The Congressional Research Service (CRS) stirred controversy last year when it released a study claiming that tax rates do not influence economic growth. Predictably, those who favor higher taxes used the flimsy report to bolster their backward argument that raising tax rates, as Congress and President Obama did with the …
This year’s Index of Dependence on Government presented startling findings about the sharp increase of Americans who rely on the federal government for housing, food, income, student aid or other assistance. (See last week’s chart.) Another eye-popping number was the percentage of Americans who don’t pay income taxes, which now …
In light of the impending Obama Tax Hikes, Mercatus Center senior research fellow Veronique de Rugy created the chart to the right illustrating Hauser’s Law which Standford University professor Kurt Hauser recapped in this weekend’s Wall Street Journal: Over the past six decades, tax revenues as a percentage of GDP …
Preliminary figures from the Congressional Budget Office (CBO) show that Washington ran a $1.291 trillion deficit in 2010, just slightly less than last year’s $1.416 trillion. To put these figures in perspective, the annual budget deficit between 1789 and 2008 never reached $500 billion. As a percentage of the gross …
