Tax breaks. You probably hear the term a lot. For about 30 years, tax breaks for the wealthy have been the crux of the Republican party plan to stimulate economic growth. But do tax breaks really boost the economy, or is it all heresay?

The issue is one of much debate. Nonpartisan Congressional Research Service has found evidence determining that tax breaks for the wealthy do not, in fact, stimulate economic growth. But the top U.S. income tax rate is at the lowest level since the mid-1940s. In 2011, Republican Presidential candidate Mitt Romney paid 14.1 percent in taxes on an income of $13.7 million. So what’s the rub? Continue reading →