Tax Cuts Do Not Stimulate the Economy 0
Bloomberg reports on a study by Moody’s which indicate that they stimulate the rich–stimulate them not to spend their tax cut money. Moody’s, by the way, is hardly a leftist media source:
The findings may weaken arguments by Republicans and some Democrats in Congress who say allowing the Bush-era tax cuts for the wealthiest Americans to lapse will prompt them to reduce their spending, harming the economy. President Barack Obama wants to extend the cuts for individuals earning less than $200,000 and couples earning less than $250,000 while ending them for those who earn more.
Follow the link for a summary of the actual numbers.
