Why do conservatives continue to lie to the American people about taxing the rich and economic growth?
Conservatives say that if you raise taxes on the rich, the economy will tank or not grow as fast. However, the FACTS show the opposite. There is a positive correlation between higher tax rates for the rich and rate of GDP growth. Below are the raw numbers. I looked at them myself a few years back and found that the top three administrations for high rate of GDP growth were: 1) FDR 2) JFK/LBJ 3) Clinton. FDR had tax rates of up to 94% on the wealthy and the economy grew the fastest under his administration. Second in the list was JFK/LBJ who had their Great Society/New Fontier social programs and tax rates of around 77%. Third in the list was Clinton with his 22+ million jobs and nearly 40% tax rate on the super rich. ================================== Compute the percent change in real GDP for each administration over their 4 or 8 year terms, and then rank them. You'll see what I found as well. HISTORICAL TOP TAX RATES http://www.ntu.org/tax-basics/history-of-federal-individual-1.html HISTORICAL REAL GDP (INFLATION ADJUSTED) http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1 ======================= Dick Taters, I hear excuses. Conservatives say that conservative economic policies grow the economy faster than liberal policies. Well the facts, everywhere, say the opposite. The con tactic is then to claim all the facts are biased or come up with an excuse for every single instance they are wrong. If you look at the raw numbers, the ranks, and the correlations, you will find that they are not random. There is a pattern. Blue states in general are wealthier and better educated than red states. The US economy in general does grow faster under Democrat administrations.
Asked By: thomas_paine - 11/30/2012
Best Answer - Chosen by Asker
Yeah, you gotta love those dotcom and housing bubbles that began in the Clinton years... More
Answered By: ♥ Dick Tater ♥ - 11/30/2012
Additional Answers (3)
FYI - "correlation" is NOT "causation".
Answered By: Mary Christmas - 11/30/2012
Hey moron: it is the CHANGE in tax rates that matters, not the absolute rate. Sheesh.
Answered By: Shovel Ready - 11/30/2012
Why do you not understand that raising taxes without spending cuts is just throwing your money out the door. Politicians have got to stop gross over spending before any thing else will work.. The definition of politician is poli from the Greek word for many. And tics are blood sucking insects
Answered By: Walter C - 11/30/2012
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