WOULD RAISING TAXES HURT THE ECONOMY?

Raising marginal tax rates back to Clinton-era levels in anticipation of closing the budget gap seems sensible, but for the fact that federal spending levels (as a percentage of GDP) were significantly lower then and sustained growth in real GDP was more than double what is it now.

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Bibliographic Details
Published inThe Boston globe
Main Author Ryan Safner
Format Newspaper Article
LanguageEnglish
Published Boston, Mass Boston Globe Media Partners, LLC 01.08.2011
Subjects
Budget deficits
Employment
National debt
Tax increases
Taxes
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Summary:Raising marginal tax rates back to Clinton-era levels in anticipation of closing the budget gap seems sensible, but for the fact that federal spending levels (as a percentage of GDP) were significantly lower then and sustained growth in real GDP was more than double what is it now.
ISSN:0743-1791