"Republicans protesting that tax increases on supposed "job creators" will hurt economic growth and employment need not fear. The historical record shows that the U.S. economy grew much faster and produced jobs in far greater numbers when taxes were higher--even much higher. In December, the Congressional Budget Office concluded that ending the Bush tax cuts for the rich would have virtually no impact on the U.S. economy at all. And as theCongressional Research Service explained in a report Republicans tried to squelch:
The evidence does not suggest necessarily a relationship between tax policy with regard to the top tax rates and the size of the economic pie, but there may be a relationship to how the economic pie is sliced.
As George W. Bush famously said, "We ought to make the pie higher." Unfortunately, right now the top one percent is eating it all."
