Why Republicans Make Lousy Economists

John Shadegg (R-AZ) was on Morning Joe this morning arguing that unemployment benefits are not stimulative to the economy because unemployed hoard their checks.  He doubled down on his nonsense by saying that maintaining lower taxes for the richest 2% in the country creates jobs.  With all due respect (read: very little) Congressman, the nonpartisan CBO issued the analysis below that clearly shows the biggest driver to increase employment is increasing aid to the unemployed and that income tax reductions are the least effective.  Why?  Unemployed spend their unemployment checks, while the rich spend no more if their tax rates are 35% or 39%.   The good news: Shadegg is retiring.


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