GOP Line About 'Largest Tax Increase In American History' Fails Fact Check

[Galraedia]

Source: Huffington Post

WASHINGTON — Republicans are calling it "Taxmageddon," the big tax increase awaiting nearly every American family at the end of the year, when a long list of tax cuts is scheduled to expire unless Congress acts.

It would be, GOP leaders in Congress say again and again, "the largest tax increase in American history."

Except it wouldn't be, not when you take into account population growth, rising wages, and most importantly, the size of the U.S. economy. When those factors are taken into account, the largest tax increases were those imposed to help pay for World War II – back when the U.S. raised additional revenue to pay for wars instead of simply borrowing.

Nevertheless, it is an exaggeration that has proved too tempting for top Republicans in Congress:



Read more: http://www.huffingtonpost.com/2012/06/11/tax-increase-gop-fact-check_n_1586456.html?ref=politics

[Grins]

1. Call it by it's correct name...

I'll say it again, Obama and his re-election staff should be referring to this as the "Bush Tax Increase" every day after day after day because that's what it is. Bush and the Rethuglicans in both houses wrote the expiration into THEIR tax cut bill. They wrote it, let them own it. NEVER let the Repukes associate this in any way with Democrats.

[Denninmi]

2. Um, if the Bush tax cuts were targeted mainly at the wealthy

Why would repealing them result in a "big tax increase awaiting nearly ever American family"???

Because hey, they threw most average people a few crumbs. If they take those crumbs back, it's not a "big" deal.

Undo them all, and then add more taxes on the richest and let them clean up their own mess.

[lefthandedlefty]

4. Exactly

They caused it with thier greed and wars they should pay for it not the rest of us.

[ErikJ]

3. WW1 1917 and 1932 the biggest tax increases by FAR.

In 1917 during WW1 the top tax rate was raised from 15% to 70% then 77% the next year.

In 1932 Republican Pres. HOOVER and Congress raised the top rate from 20% to 63%.

[liberalnationalist]

5. here is what we need to do

just come out and say if the republican party wins >>>>THEY WILL RAISE TAXES<<<<.

they are the ones that nominated a tax hiking governor from Taxachusettes...

we have to quit playing f**king defense

[GeorgeGist]

6. Well Duh ...

they're not trying to win the SMART vote.