Republican tax plans don't add up

[stpioc]

Just to show how the Republicans indeed assume miracle effects of tax cuts for the rich, here is Paul Ryan in a recent interview:

HARWOOD: On taxes, when your predecessor as Ways and Means chair, Dave Camp, came out with a comprehensive tax reform a few years ago, he adopted as a principle that it was going to be distributionally neutral. It wasn't going to give an advantage to any group over the current system. Is that still a principle that you think is appropriate for the Republican tax agenda?

RYAN: So I do not like the idea of buying into these distributional tables. What you're talking about is what we call static distribution. It's a ridiculous notion. What it presumes is life in the economy is some fixed pie, and it's not going to change. And it's really up to government to redistribute the slices more equitably. That is not how the world works. That's now how life works. You can shrink or expand the economy, and what we want to maximize is economic growth and upward mobility so that everybody can get a bigger slice of the pie.

Another Dem like Obama? Our best days are behind us: Ryan

What actually is a ridiculous notion is that giving even more money to the top is going to make the economy grow faster while there is no evidence to support this, and as admin just argued, the reverse might actually be closer to the truth.

As you can gauge from the charts below, the top 1% has gained enormously both in income share and in wealth share from the early 1980s. What did that do to the economy? Uhh..