toothless tax cuts

Do tax cuts stimulate the economy?

Read a NY times article to learn more.

The key point being:

“At the level of taxes we’ve been at the last couple decades and the magnitude of the changes we’ve had, it’s hard to make the argument that tax rates have a big effect on economic growth,” per Donald Marron, of the highly regarded Tax Policy Center and a former Bush administration official. The Times article goes on to say that “a new report from the nonpartisan Congressional Research Service found that, over the past 65 years, changes in the top tax rate ‘do not appear correlated with economic growth.’ ”

Food for thought…

Source: Bureau of Economic Analysis, via Haver Analytics

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