You realize that is from 2011, and is a preliminary paper for discussion, not an official opinion of the CBO?
I haven't read the whole thing, but I see a reference a 2009 paper about how every percent of extra tax has such-and-such negative effect on the economy.
Those simple tropes take on a life of their own. Yes, higher taxes reduce some hiring and re-investment. However, corporations mostly funneled their 2017 tax reductions owners (through stock buybacks and increased cash). Not many really invested in anything, as one would expect when the economy was already going well.
I haven't read the whole thing, but I see a reference a 2009 paper about how every percent of extra tax has such-and-such negative effect on the economy.
Those simple tropes take on a life of their own. Yes, higher taxes reduce some hiring and re-investment. However, corporations mostly funneled their 2017 tax reductions owners (through stock buybacks and increased cash). Not many really invested in anything, as one would expect when the economy was already going well.