Do Higher Taxes Slow Economic Growth?

Of course higher taxes would slow economic growth. There are no ifs, ands, or buts about it.

Diamond and Saez start out by arguing that, because the share of income earned by the top 1 percent of earners has doubled since the 1970s, and since they pay a lower tax rate today than they did then, we should tax them more heavily. Notice the disconnect at the outset: higher income vs. lower tax rates.