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Friday, November 2, 2012

Relationship between tax and job creation debunked by CRC


The top tax rate reductions appear to be associated with the increasing concentration of income at the top
of the income distribution. 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.

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,  according to.Thomas L. Hungerford, Specialist in Public Finance, Congressional Research Center dated September 14, 2012. 


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