Quote – The Heritage Foundation

The Clinton tax hikes on income would have a devastating impact on long-term economic growth. In particular, the increase in the tax burden would reduce savings and investment, thus hampering the economy’s capacity to generate new jobs and higher wages. Specifically, higher tax rates on income would punish productive economic activity, reduce tax revenues, lead to increased federal spending and higher budget deficits, reduce job creation and penalize small business.

From The Heritage Foundation’s “Why Higher Tax Rates on Income Will Slow Growth, Cost Jobs”, by Daniel J.

Tuesday, May 25, 1993