Next time you hear a supply-sider claim that raising taxes on the wealthy is a job- and economy-killer, now you can say with confidence that they are lying.
Using data from irs.gov, census.gov, bea.gov, and bls.gov, I produced the following graphs:
1) Correlation between top marginal tax rates and GDP growth: Graph shows tight correlation between higher taxes and faster growth
2) Correlation between top marginal tax rates and unemployment: Graph shows loose correlation between higher taxes and lower unemployement
3) 10-yr impact to the economy after a change in tax policy: Graph shows that larger tax hikes lead the largest growth whereas larger tax cuts lead to the slowest growth after 10 yrs. (I did this by looking at 10-yr rolling periods and segmenting them by size of tax cut/hike)
To the naysayers out there, if you don't believe my analysis, get the data and run the numbers yourself. I have a double major in math and physics so I am very confident in my conclusions.
The spreadsheet I used to create these graphics is interactive so if anyone would like to see the impact of a specific tax change, just let me know.