Low Taxes = High GDP Growth? Not So Fast
February 7th, 2010 by SocProf and tagged Economic Sociology, Economy, Ideologies
Take a look at this neat graph from Baseline Scenario:
Conclusion: it’s a lot more complicated than “tax cuts = growth” (I know, it is going to be obvious to a lot of people but this view still dominates socially acceptable economic discourse, so, it’s nice to see some clear debunking).
The post also has another graph that demonstrates that there is no correlation between tax rate and unemployment rate among OECD countries.
One can also refer to Lane Kenworthy’s Egalitarian Capitalism for more on that subject.
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