Results of new study run counter to conventional wisdom on taxes

09/21/2012 | Business Insider

Lower taxes might not guarantee economic growth, according to a new Congressional Research Service study. The bipartisan study found neither causation nor correlation between economic growth and tax cuts, and actually found some evidence that higher taxes correspond to better economic performance. "Although it sounds like heresy, presidents and Congress-people who actually want to fix the economy might want to consider raising taxes rather than cutting them," writes Henry Blodget.

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