News and Tribune

Community News Network

November 9, 2012

Fact check: Would tax hike on wealthy kill 700,000 jobs?

(Continued)

In other words, focusing just one variable — an increase in taxes — is a bit simplistic. By itself, raising taxes likely leads to a reduction in employment. But the use of that additional revenue over the long term is also important — such as whether it is used to reduce budget deficits or boost government spending.

- - - - -

Sessions is able to point to a study (though he stated the 700,000 figure as a fact), but on several levels his claim is misleading.

First, the study was underwritten by the White House's opponents. Second, the study never examined what Obama claims he will do with the revenue — dedicate it to deficit reduction. And finally, the total figure is so "long term" — more than 10 years away — that it is absurd to suggest those jobs would be lost in the near term.

As for Boehner, he did attribute the figure to Ernst & Young, but he went even further in saying the top rates would "destroy" 700,000 jobs. As we said, that is simply absurd.

- - -

Read The Fact Checker: the Truth Behind the Rhetoric, at www.washingtonpost.com/blogs/fact-checker

Text Only | Photo Reprints
Community News Network
LOCAL MAGAZINES
Easter 2014 photos


Click on any photo to purchase it.

SPECIAL CONTENT
Twitter Updates
Follow us on twitter
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
AP Video
'Modern Family' Star on Gay Athletes Coming Out MN Twins Debut Beer Vending Machine DA: Pa. Doctor Fired Back at Hospital Gunman Raw: Iowa Police Dash Cam Shows Wild Chase Obama Seeks Limits on US Company Mergers Abroad Large Family to Share NJ Lottery Winnings U.S. Flights to Israel Resume After Ban Lifted Official: Air Algerie Flight 'probably Crashed' TSA Administrator on Politics and Flight Bans Raw: National Guard Helps Battle WA Wildfires Raw: Ukraine's Donetsk Residents Flee Senators Push to End Hamas Threat in Cease-Fire A Young Victim's Premonition, Hug Before MH17 Raw: Deadly Storm Hits Virginia Campground Death Penalty Expert: 'This is a Turning Point' Raw: MH17 Victim's Bodies Arrive in Netherlands Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Crash Kills Teen Pilot Seeking World Record
2013 Photos of the year


Take a look at our most memorable photos from 2013.