Tax Facts

The Rethuglicans have had tax reduction as their major mantra since the days of St. Ronnie of Hollywood. Their refusal to consider closing tax loopholes for corporations that are paying little or no taxes -- and still sending jobs overseas -- and raising taxes on the wealthiest 2% of Americans is blocking an agreement on the debt ceiling and budget.

Now, researchers at the Center for American Progress have shown that lower tax rates on the wealthy don't produce jobs at all. Indeed, job growth has been greater in the last 60 years when tax rates are higher than they are now (the lowest in 60 years), as this chart shows:



What lower taxes on the wealthy do lead to are bigger campaign contributions to the Rethugs (see Koch brothers, Harlan Crow, etc., etc.), which is what this is all about.