The Congressional Research Service has recently released an analysis entitled "Taxes and the Economy."
A shortened URL for the report is here: http://1.usa.gov/12nAkgQ
I believe that this study and its conclusions should be receiving more publicity. The study, whose initial methodology was revised in response to Republican objections,concludes on page 17 that:
1. The top statutory income tax rates have decreased considerably since the end of World War II,
2. statutory tax rates affecting taxpayers at the top of the income distribution are currently at their lowest level since the end of the second World War,
3. changes over the past 65 years in the top marginal tax rate do not appear correlated with economic growth,
4. the top tax rates appear to have little or no relation to the size of the economic pie; and
5. the top tax rate reductions appear to be correlated with the increasing concentration of income at the top of the income distribution.
It appears that a reasoned analysis of the nation's economy since World War II contradicts Mitt Romney's and the Republicans' recent campaign rhetoric.
It seems as though House Republicans, who just gutted the Speaker of the House, are motivated by something other than reasoned economic analysis. Could it be that they are trying to ensure having sufficient campaign contributions from the top 1 percent or 2 percent to ensure their reelection in 2014?
Will today's Republican party split in two (2) - i.e. the moderate Republicans and the Tea Party Republicans?