Economic Growth Stronger under Democratic Tax Policies – Sherman Releases Chart
Washington, D.C. – Today, Congressman Brad Sherman (D-CA) released the following chart that demonstrates how Democratic tax policies produce stronger economic growth than Republican tax policies.
“The GOP wants Americans to believe its tax plan will jumpstart the economy, but the numbers simply prove them wrong,” said Rep. Sherman.
These statistics were calculated using data from the Bureau of Economic Analysis, and demonstrate how the economy has grown faster under Democratic tax policies than Republican policies. For purposes of these calculations, we defined each tax policy period as follows:
Reagan (1986 law) and H.W. Bush Tax Policies: Effective January 1, 1988, to December 31, 1993
Clinton Tax Policies: Effective January 1, 1994, to December 31, 2000
W. Bush Tax Policies: Effective January 1, 2001, to December 31, 2012
Obama Tax Policies: Effective January 1, 2013, to September 30, 2017 (Democrats allowed George W. Bush's tax policies to remain in force through 2012, and raised taxes on the top brackets for 2013).