iOS app Android app More

Featuring fresh takes and real-time analysis from HuffPost's signature lineup of contributors
Larry Beinhart

Larry Beinhart

Posted: December 4, 2010 05:29 PM

NEVER EVER LET THE FACTS MATTER
TAX CUTS USUALLY LEAD TO HIGHER UNEMPLOYMENT
TAX INCREASES LEAD TO LOWER UNEMPLOYMENT

Since 1950 we have had five tax increases on the rich.
Four out of five times unemployment went down.

Since 1950 we have ten cuts to the top marginal rate.
Six out of ten time unemployment has gone up.

YEAR TOP MARGINAL TAX RATE UNEMPLOYMENT RATE RESULT
1962 91 5.7 BASE YEAR
1963 77 5.2 Tax cut/ Unemployment down
1964 70 4.5 Tax cut/Unemployment down

1967 70 3.8 BASE YEAR
1968 75 3.6 Tax hike/Unemployment down
1969 77 3.5 Tax hike/Unemployment down
1970 71.8 4.9 Tax cut/Unemployment Up
1971 70 5.9 Tax cut/Unemployment Up

1980 70 7.1 BASE YEAR
1981 69.1 7.6 Tax cut/Unemployment Up
1982 50 9.7 Tax cut/Unemployment Up

1986 50 7.0 BASE YEAR
1987 38.5 6.2 Tax cut/Unemployment down
1988 28 5.5 Tax cut/Unemployment down
1989 31 5.6 Tax hike/Unemployment up

1992 31 7.5 BASE YEAR
1993 39.6 6.9 Tax hike/Unemployment down

2000 39.6 4.0 BASE YEAR
2001 38.6 4.7 Tax cut/Unemployment up

2002 38.6 5.8 BASE YEAR
2003 35 6.0 Tax cut/Unemployment up