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Wednesday, July 11, 2012

Is the Affordable Care Act really “the largest tax increase in the history of the world?”


Duh.


Is the Affordable Care Act really “the largest tax increase in the history of the world,” as Rush Limbaugh so grandiloquently put it? No. It’s not even the largest tax increase in the history of this country.
Or of the past 50 years. Or 20. It’s not even the biggest tax increase scheduled to take effect in the very near future. (That’s the expiration of the George W. Bush tax cuts slated for New Year’s Day.)

Tax increases since 1950, ranked by % of GDP. (Chart: AUstin Frakt)

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