Given that the Republican Convention speakers last week all argued that the Obama Administration has destroyed the economy, I was curious what facts might exist to support such claims. As somebody who lives his life according to the creed “Show Me The Data”, I wanted to see for myself just how bad job growth has been during the Obama Administration. ( I didn’t want to hear some business reporter who never took a math or statistics class tell me.)
I’m a proud RINO. I’ve been called that a lot, and I like it and am proud to be called so. After the founders, my political heroes are people like Henry Clay, Abraham Lincoln, Theodore Roosevelt and Dwight Eisenhower. These political leaders understood the necessity of government providing the playing field for the nation’s economy: not to run the economy, but to provide the infrastructure and rulebook to have the private economy flourish.
I am a scientist. The fundamental basis of science is empirically testing the assumptions, hypotheses and theories for how one thinks something works. Given the debates about taxes, economic growth and the countries’ debt and deficit over the past 10 years, I decided to do a scientific test of one major premise. Does having a lower top marginal tax rate (i.e., the tax rate on those with the highest incomes) correspond to a better economy?