This time, lets give Obama a Congress which will HELP him, not OBSTRUCT him!
Shhhhhhh! Tax Cuts for the Wealthy DON'T Create Jobs! (We Knew That.)
Congressional Research Service Report On Tax Cuts For Wealthy Suppressed By GOP (UPDATE)reported on Thursday that Senate Republicans applied pressure to the nonpartisan Congressional Research Service (CRS) in September, successfully persuading it to withdraw a report finding that lowering marginal tax rates for the wealthiest Americans had no effect on economic growth or job creation.
"The pressure applied to the research service comes amid a broader Republican effort to raise questions about research and statistics that were once trusted as nonpartisan and apolitical," the Times reported. Democrats in Congress, however, have resurfaced the report and published it in full. It can be read below.
Republicans told the Times they had issues with the tone, wording and scope of the report, but they clearly objected most strongly to its findings, which undermine the governing fiscal philosophy of the party, that tax cuts for the wealthy will spur growth and benefit everybody.
GOP officials told The Times that the decision by the CRS came after a cooperative discussion, but Democrats have suggested that the move is part of a broader effort by Republicans to squelch legitimate research that runs counter to their economic principles.
The CRS report, by researcher Thomas Hungerford, concluded:
The results of the analysis suggest that changes over the past 65 years in the top marginal tax rate and the top capital gains tax rate do not appear correlated with economic growth. The reduction in the top tax rates appears to be uncorrelated with saving, investment, and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie.
However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution. As measured by IRS data, the share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009. Tax policy could have a relation to how the economic pie is sliced—lower top tax rates may be associated with greater income disparities.Rep. Sandy Levin of Michigan, the top Democrat on the Ways and Means Committee, demanded the CRS explain its decision. "The impartial research and advice provided by CRS experts informs and strengthens the work of Congress. However, this valuable role hinges on the impartiality of CRS analysts and their freedom from political pressure. As with other non-partisan institutions, subjecting CRS analysts to political considerations undermines the legislative process and the American people’s trust in it," Levin wrote in a letter to CRS. "Therefore I was deeply disturbed to hear that Mr. Hungerford’s report was taken down in response to political pressure from Congressional Republicans who had ideological objections to the report’s factual findings and conclusion."
PDF....Read the whole Banana for yourself: http://www.dpcc.senate.gov/files/documents/CRSTaxesandtheEconomy%20Top%20Rates.pdf
- The real crisis is about jobs, wages and economic growth, not the national debt
- Business leaders scold congressional Repubs for intransigence on debt ceiling
- What’s this? A Republican talking sense about the dangers of not raising the debt ceiling?
- George Will warns GOP that majority vote against raising debt ceiling would bring economic disaster
- Tim Pawlenty is terribly confused about taxes and economic growth
MITT ROMNEY IS a BOSS.... a CEO. He's not a compromiser. His only experience is to buy companies, lay off workers, get them big time in debt, take his commission and then take them bankrupt. Over and over. Not the qualifications for an American President. He's a multimillion dollar junk dealer.
FLASH!!!! CNN Fri night reporting most of those at Benghazi were NOT state department officials but were covert CIA masquerading as diplomatic types...and that two of the dead were CIA operatives.
Maybe that's why the White House and the CIA aren't talking! And why they didn't go in and rescue our Libyan spy nest. (Remember the Mission Impossible TV show opening, 'as always, if you are captured, we will disavow any knowlege of you mission"?) Fox, STFU!
Trouble at Fox....over the Truth in Benghazi
VIDEO: Geraldo and some Fox moron
Read it now....
When the Shit Hits the Fan....a discussion of preparedness and who screwed up.
The East Coast got caught with their pants down...and so will YOU! Read it.
Fox News turns on NJ Gov Chris Christie for taking money and praising Obama for quick response.
From HERO....to ASSHOLE!
|Brandon and Connor Moore|
Was race a factor in the white homeowner’s decision not to allow a mother and her two young boys to take shelter from the storm in his home? Check out the video below, and let us know if you think this guy’s story is suspect. He claims that he only saw a man come to the door, and later adds–after finding out that the children were killed–that they shouldn’t have been out in the storm anyway.
Was this just a racist white man who refused shelter to a Black woman and her children? Let us know what you think!