Tuesday, October 26, 2010

Moody's, yes, the Wall Street friendly Moody's, says Republican Platform a Joke

Rich Americans Save Tax Cuts Instead of Spending, Moody's Says

"Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.
Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody’s Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.

The findings may weaken arguments by Republicans..."

No comments: