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View Diary: CNBC confirms it: Higher taxes don't discourage spending by wealthy (13 comments)

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  •  FOR YEARS (1+ / 0-)
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    niaman

    The very idea of high end tax hikes, or even allowing the temporary Bush tax cuts to expire, has been resisted fiercely because everyone knows that higher taxe swould mean the inevitable contraction of the economy & growth.

    So the experiment being run right now (post PP-ACA taxes, 2013 tax increases) is "What if we raised taxes anyway, can we just see what happens?"

    The beauty of just running the experiment instead of arguing about whether to try it or not, is that you get real observations out of it.

    A few more sightings like this article and you could begin to make the case that the "economy can't grow if taxes go up" balloon is in mid-burst.

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