The supposed benefits of trickle down economics where the highest marginal tax rates are slashed with the expectation that the wealthy will use that extra money in the bank to reinvest and create more jobs are purely theoretical. All the empirical evidence that has come from periods when the top tax rates have been lowered show the exact opposite. Their is no positive correlation between income tax rates and job creation and in fact the periods of highest job growth have come when the top tax rate was upwards of 40%.
Reshared post from +Koushik Dutta
Obligatory chart of tax rates on the rich versus job growth. The empirical effects of "trickle down" economy.
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