Lowering taxes on the wealthy does little to nothing to spur economic growth. We know this because we have a great example: the Bush tax cuts. Bush’s presidency saw a dismal lack of job growth, and growth has actually been more robust under presidents with higher taxes.
Don’t tell that to Republican congressman Charlie Bass (NH). In an interview with a local television host this week, Bass explained that he thinks that the Bush tax cuts for the wealthy are actually too small. He advocates for dropping tax rates to between 20 and 30 percent:
BASS: We can raise some taxes, lower some taxes, simplify, get the tax rate in the 20 to 30 percent range across the board, and obviously for lower-income americans around 10 to 15 percent which is what they pay today, the result would be a lot more economic activity.
Americans know that the rich don’t need an even bigger tax cut. Chip in $3 to his bold progressive opponent, Annie Kuster.
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