FletchforFreedom Wrote:
Oct 31, 2012 6:31 PM
In actual fact, TEFRA wasn't even CLOSE to being the largest tax hike in history. It was desfribed as the largest PEACETIME tax increase to that time, but was, in actual fact, almost entirely a reduction in the overall tax cuts oassed the prior year and amounted to less than 10% of the tax cuts ($37.5 billion per year LEAVING approximately $375 billion in cuts AFTER the increase). The Clinton hike was significantly larger and sloed the economy to the weakest post-recession expansion in history to that time.