Friday, October 19, 2012

Not All Tax Cuts Are Created Equal

From "Tax Cuts for Job Creators" by Laura D’Andrea Tyson and Owen Zidar:
"... if the priority is to create a substantial number of jobs over the next presidential term, evidence from the last half-century strongly suggests that tax cuts for the top 5 percent won’t work. Tax cuts for working families, tax cuts directly aimed at expanded hiring or increases in infrastructure investment would have much more bang for the buck and would cost much less in terms of forgone revenue and deficit reduction in the future."
If we can't talk enough people out of some kind of tax cut despite that taxes are unusually low by modern historic standards, it should at least be the relatively sensible tax cuts for the lower 95% instead of the entirely senseless tax cuts for the top 5%.

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