No harm to economy if Bush tax cuts for wealthy expire

According to the non-partisan Congressional Research Service, letting the Bush tax cuts for high income earners expire will not harm the economy. It will, however, put a damper on Republican “job creator” rhetoric.

Non-partisan report sees no harm in tax hikes for wealthy

“Letting tax rates for the wealthy rise will not put a short-term damper on the economic recovery, according to a report by the non-partisan research arm of the U.S. Congress.

The study by the Congressional Research Service is likely to be used by Democrats in the looming battle over whether to extend tax cuts originally enacted during the administration of President George W. Bush when they expire at the end of the year.”

http://www.reuters.com/article/2012/07/19/us-usa-taxes-wealthy-idUSBRE86I1NT20120719

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