Sen. Mitch McConnell is correct in saying that serious action needs to be taken in order to lower the deficit ("Time for tough choices on spending, debt," June 14). But the majority of his claims are either false or misleading and run counter to the evidence provided by the last two decades of U.S. economic history.
Mr. McConnell asserts that raising taxes "kills jobs," as if that statement were self-evident.
Yet during the Clinton administration, when taxes were at a high, "job killing" rate, more than 22 million new jobs were created and unemployment dropped 3.4 percent.
That is in sharp contrast to the tax-cutting Bush administration, which saw only 1.1 million new jobs created and a 3.2 percent increase in unemployment.
Despite this history, Mr. McConnell and his conservative colleagues have scared Americans away from the idea of returning to the rates prior to the Bush-era tax cuts for the richest Americans.
These CEOs and executives (some of whom head companies that were saved by taxpayer bailout money) have not used their tax cuts to create jobs. Instead, they have continued to line their own pockets.
An AFL-CIO study of 292 large, publicly traded companies found that in 2009, average compensation for CEOs was 263 times the average compensation for workers in the same companies.
It may also be worth noting that as of 2009, Senator McConnell's personal fortune was estimated at $32.8 million.
Without the Bush-era tax cuts that benefited millionaires like Mr. McConnell, the government would have had an estimated $1.7 trillion in additional revenue.
Joel Beller, Owings Mills