NO RELATIONSHIP BETWEEN CUTTING TOP RATES & ECONOMIC GROWTH – TWENTY-SEVEN YEARS OF DATA

Growth in the workforce and growth in production drive economic growth.

Tax breaks for corporations and the most wealthy do not cause the economy to improve.

There is no correlation between tax cuts for the rich and economic growth.

THREE DECADES: “In 1990, President George H. W. Bush raised taxes, and GDP growth increased over the next five years. In 1993, President Bill Clinton raised the top marginal tax rate, and GDP growth increased over the next five years. In 2001 and 2003, President Bush cut taxes, and we faced a disappointing expansion followed by a Great Recession.”

SOURCE 1: https://www.theatlantic.com/business/archive/2012/09/tax-cuts-dont-lead-to-economic-growth-a-new-65-year-study-finds/262438/