Tax cuts for the rich grow income inequality, not the economy

Oregonian:

Rich Oregonians got a tax cut at the start of this year, when the top marginal income tax rates set by voter-approved Measure 66 came down. As far as I know, no wealthy beneficiary of this tax cut has claimed that it's helped grow Oregon's economy.

That's not surprising, because reducing the top tax rates has no correlation with economic growth.

Unfortunately, The Oregonian editorial board refuses to look at the mountain of evidence showing that cutting top tax rates has no connection with economic growth. The paper's recent editorial calling for a cut of Oregon's income tax on capital gains adheres to myth, not fact ("Cut Oregon capital gains tax," Oct. 1).

Read the full article here. Discuss below.