STUDY: Tax cuts do more to promote income inequality than economic growth
Tax Cuts Don’t Lead to Economic Growth, a New 65-Year Study Finds
Analysis of six decades of data found that top tax rates “have had little association with saving, investment, or productivity growth.” However, the study found that reductions of capital gains taxes and top marginal rate taxes have led to greater income inequality. Past studies cited in the report have suggested that a broad-based tax rate reduction can have “a small to modest, positive effect on economic growth” or “no effect on economic growth.”Simon Owens is an assistant managing editor at U.S. News & World Report. Follow him on Twitter, Facebook, or Google+. Email him at sowens@usnews.com
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