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The Largest Tax Increase Since World War II

JPK2 Wrote: Dec 28, 2012 3:58 PM

Obama and his party run the Senate and the Oval Office. For 2 years they ran everything, and there wasn't a thing the GOP could do. Obama could have completely revamped the tax code and raised taxes in 2009. But, he didn't. He knows better. Boehner gave Obama everything he wanted 2 weeks ago. but Obama wasn't interested. Reason: he wants all taxes to go up. He wants to destroy the GOP. But, he is the President. And voters will blame him and his party. After-all, he is The Anointed One.

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The Largest Tax Increase Since World War II

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...

Related Tags: Recession Barack Obama Fiscal Cliff