65 YEARS OF TAX CUTS FOR THE RICH, NO EFFECTS ON ECONOMY
“Top income tax rates have changed considerably since the end of World War II(see below).”
“There is not conclusive evidence, however, to substantiate a clear relationship between the 65-year steady reduction in the top tax rates and economic growth.”
“The evidence does not suggest necessarily a relationship between tax policy with regard to the top tax rates and the size of the economic pie….”
Top Rate, Marginal Income – A Steady Decline:
FROM 90+% 1940s & 1950s TO 36% Today
Capital Gains – A Steady Decline:
FROM 25% 1950s and 1960s TO 35% 1970s TO 15% Today
SOURCE: CONGRESSIONAL RESEARCH SERVICE
http://graphics8.nytimes.com/news/business/0915taxesandeconomy.pdf