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Barack Obama  |
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Rob Kailey is a working schmuck with no ties or affiliations to any governmental or political organizations, save those of sympathy.
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Sat Dec 16, 2006 at 09:43:08 AM MST
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In a story about how our tax reductions worked out even better for Montanans making over $500,000 than we could have ever hoped, we get this gem:Balyeat said economic studies have shown that reducing upper-income tax rates leads to wage growth in all income-earning sectors. Where is this study, Senator Balyeat? I've never seen a solid economic study that confirms that lower marginal rates at the top lead to wage growth. Hell, since supply-side economics got invented, wage growth for most income-earners has actually been stagnant, as money has gone from wages to capital returns.
Even more shocking? Dan Bucks shares this: Dan Bucks, state revenue director, said the 2003 analysis was based on 2001 income-tax data and that the economy has grown dramatically since then. However, the income growth went mostly to people who were already rich, he said - thus the much-higher-than-expected tax cut for wealthy Montana households. So the reason rich Montanans are getting a bigger than expected tax cut? Because they were making more money than expected.
Man, those rich folks sure have it rough.
Don't worry, though, Dave Budge can still cherry pick data to deny the overwhelming proof that economic inequality, social immobility, and other general dangerous economic events are actually taking place.
So I'm happy. |
| Matt Singer :: Show Me the Study, Senator Balyeat |
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