We did a 30 year experiment in this country. We reduced the top tax rate from 70 to 35. The growth rate in GDP for the last 30 years is LESS than in the previous 30 years. Trickle down fails and we have the results to prove it.
Cutting taxes for the wealthy does not generate faster economic growth, but may widen the income gap between the rich and the rest, according to a new report.
A study from the Congressional Research Service — the non-partisan research office for Congress — shows that “there is little evidence over the past 65 years that tax cuts for the highest earners are associated with savings, investment or productivity growth."
In fact, the study found that higher tax rates for the wealthy are statistically associated with higher levels of growth.