"Tax breaks for the rich don't grow jobs," and policy options to turn the tide

Today's CT Mirror reports on a Congressional Research Service report,  concluding that cutting taxes to the wealthy has not been shown to increase the number of jobs, and in fact is contributing to the widening income divide:

"A congressional research service is challenging the candidates who say that preserving Bush-era tax breaks for the rich are a way to increase jobs.

"In fact, the non-partisan Congressional Research Service not only found no evidence that six decades of relief for the wealthy helped the nation's economy, they also warned that this may have expanded the gap between the rich and the poor.

" "The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth,' researchers wrote in their latest report to Congress."

Sobering news, but different policy choices can give us different result. Jacob Hacker's new report, "Prosperity Economics: Building an Economy for All," offers a similar and sweeping analysis of the income in equality and shrining tax rate on our wealthiest citizens, and proposes a detailed three-pronged policy agenda to invigorate our democracy and turn the tide.

In Connecticut, Better Choices for Connecticut is a coalition working for a more fair and transparent revenue structure. A training this Friday afternoon will offer Connecticut revenue options and tips for advocates on how to talk about taxes. Contact me, ldupont-diehl@cahs.org, or Suzanne Haviland, shaviland@afscme.org, for details.





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