Sunday, April 6, 2014

Low taxes on rich means more jobs? FALSE.

Between 1946 and 1963 the top tax rate was 91% and the unemployment rate averaged 4.6% per year.

Between 1965 and 1981 when the top tax rate was lower (70%) the average unemployment rate was higher (5.7% per year).

Between 2003 and 2012 the top tax rate was much lower (35%) and the average unemployment rate was even higher (6.8% per year).

See for yourself (below).

Source: The Tax Foundation; National Bureau of Economic Research;
and the US Bureau of Labor Statistics