In response to:

The Largest Tax Increase Since World War II

Crankshaft101 Wrote: Dec 28, 2012 12:54 PM
These politicians are all guilty of spending like drunken sailors but with NO leadership in the land of Oz just like an alcoholic on a huge drinking binge it looks like we'll have to "bottom out" before all those who voted for Obama can come to their senses and realize what a huge mistake this guy has been for the U.S.A.
June56 Wrote: Dec 28, 2012 12:58 PM
Agree with you but I am not so sure they will even come to their senses then since they didn't after watching his destruction take place for the past 2 years but I do hope you are right.
Fully going over the fiscal cliff would be the largest tax increase since World War II, according to the Tax Foundation and will result in the highest top tax rates in decades. They've composed a chart tracking marginal rates since 1954. Take a look at the end, and the size of the jump projected in tax rates:

Keep in mind that as rates have come down, average tax revenue has stayed roughly the same. Reforms to the U.S. tax code have given us one of the most - if not the single most - progressive...