“Largest Tax Increase In History”

Posted by on Jul 3, 2012 in Analysis, Government, Politics | No Comments

Before the Supreme Court upheld the Affordable Care Act last week, the primary Republican  line of attack against were over-the-top hyperbolic, but at least subjective: government takeover of health care, unconstitutional overreach, etc.

But from the moment the SCOTUS determined the law stands as an exercise of Congress’ taxing power, though, Republicans have gone empirical. They now say that if the mandate is a tax, then it’s one of the greatest tax hikes in history.

In fact Rush Limbaugh said, “what we now have is the biggest tax increase in the history of the world.” Others have said it is the largest tax increase in the “history of the universe.”

But when you compare the projected revenue effect of the individual mandate to the actual revenue effects of other, actually large tax increases, the claim becomes laughable.

So there you have it. Not exactly the largest tax cut in history. Not even close.

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