Posted by AzBlueMeanie:
You may recall that the nonpartisan Congressional Research Service (CRS) published
a detailed report back in September documenting what any legitimate economist already knew: giving tax
breaks to the rich only concentrates wealth at the top, it does not
boost the economy.
Well, Tea-Publicans would not tolerate such heresy from the CRS questioning their faith based supply-side "trickle down" GOP economic theory — which has been entirely disproved and discredited. The Septegenarian Ninja Turtle and Grand Inquisitor, Mitch McConnell, ordered the report killed after a witch dunking. "The CRS are witches!"
Steve Benen picks up what happened next. CRS re-publishes unpublished truths:
A fascinating controversy followed, culminating in the facts making a comeback today (thanks to Mike Yarvitz for the tip).
On Thursday, the nonpartisan Congressional Research Service
republished an analysis that found no clear relationship between
marginal high-end tax cuts and economic growth. […]
The new version
(PDF) stands by the larger conclusion: "This analysis finds no
conclusive evidence, however, to substantiate a clear relationship
between the 65-year reduction in the top statutory tax rates and
economic growth. Analysis of such data conducted for this report
suggests the reduction in the top tax rates has had little association
with saving, investment, or productivity growth. It is reasonable to
assume that a tax rate change limited to a small group of taxpayers at
the top of the income distribution would have a negligible effect on
economic growth."
Good for the CRS. It's safe to assume McConnell's office
will throw another fit — the notion that cutting taxes on the rich
necessarily boosts economic growth is a bedrock tenant of contemporary
conservative thought — but free inquiry and intellectual integrity
demand that accurate government reports see the light of day, regardless
of political ideology.
To reiterate
a point from earlier in the month, it's important to understand that
the Congressional Research Service, generally recognized as Congress'
own think tank, has a well-deserved reputation for non-partisanship.
The CRS is counted on to provide lawmakers with the most reliable and
accurate information available, and the notion that partisan lawmakers
can pressure, censor, and possibly even intimidate independent
researchers is simply unacceptable.
In other words, we just can't
have public offices' scholarship being stifled because Republicans
find reality politically inconvenient. Our system of government isn't
supposed to work this way.
There is an entire cottage industry of conservative economics think tanks, endowed chairs at universities, media and politicians whose livelihoods depend upon maintaining the fraud of faith based supply-side 'trickle down" GOP economic theory — paid for by a cadre of conservative billionaire plutocrats who profit from the concentration of wealth created by this bogus economic theory religious dogma. You can bet they will be calling for more witch dunkings of the CRS for "heresy."