CTJ's legislative director testified before the Congressional Progressive Caucus on the role of revenue in addressing America's economic and fiscal problems.
Read the written version of the testimony, which explains in detail each point that he made today:
- Tax cuts are usually an ineffective tool to spur job creation.
Congress's devotion to tax cuts is making deficit-reduction impossible.
- The expiring tax cuts that help people truly in need are a tiny fraction of the overall package of tax cuts and are no reason to extend all of them.
- Most of the "grand bargains" being discussed to address the budget deficit (including the Simpson-Bowles plan) actually reduce revenue compared to current law (that is, compared to what would happen if Congress did nothing).
- The richest Americans can afford to pay more to support the society that made their wealth possible, and claims that the rich are already disproportionately taxed are untrue.
- One way to get the rich to pay their fair share is to get corporations to pay more taxes.