Lieberman concedes

[Todd33]

Originally posted by: RightIsWrong

Originally posted by: BlancoNino

Originally posted by: Todd33
The Heritage Foundation. that's not proof.

Maybe. But at least there are many who consider it to be the largest. Regardless, it is a giant tax increase.

By "many who consider it", do you mean the Republicans?

http://www.factcheck.org/article173.html

If you want to know the largest tax increase.....drumroll please.....Tax cutting Ronnie!!!

A tax increase in 1942 boosted federal revenues by 71%, for example, as the US geared up for war after the Japanese attack on Pearl Harbor. Measured in inflation-adjusted 1992 dollars, Roosevelt's wartime increase amounted to $73 billion a year, while Clinton's increase averaged $35 billion a year (average for the first two years.)

The study said that inflation-adjusted "constant dollars" is probably only the second -best measure of the size of a tax increase. "The single best measure for most purposes is probably the revenue effect as a percentage of GDP." That's Gross Domestic Product, the way we gauge the size of the economy. Clinton's tax increase isn't the biggest by that "best" measure, either. In the period since 1968, the study said, "the Tax Equity and Fiscal Responsibility Act of 1982 was the biggest increase." That was the tax increase signed by Ronald Reagan, rescinding some of the effects of his huge tax cut passed the year before.

That 1982 tax increase only slightly exceeded Clinton's in inflation-adjusted dollars ($37 billion a year vs.. $32 billion) but it was much bigger in relation to the size of the economy. The '82 increase amounted to 4.6% of GDP (average for the first two years) while Clinton's was 2.7%.

The right-wing myths just keep falling by the waistside.

In the period since 1968, the study said, "the Tax Equity and Fiscal Responsibility Act of 1982 was the biggest increase." That was the tax increase signed by Ronald Reagan

LOL. Let us not forget all the Republicans voted against Clintons Deficit Reduction Act saying it would cause a recession. So it begs the question, when has the GOP been right in the last 30 years?

 

[BlancoNino]

Todd..

You've compared tax increases...


WOULD YOU LIKE TO COMPARE TAX CUTS!?!?!?

I'm sure Reagan would win

 

[Todd33]

Originally posted by: BlancoNino
Todd..

You've compared tax increases...


WOULD YOU LIKE TO COMPARE TAX CUTS!?!?!?

I'm sure Reagan would win

I didn't compare anything, I simply added a quote from a link that someone else provided. Go ahead and compare tax cuts.. I'd rather have a tax increases along with a balanced budget and surplus rather than what we have today. But I guess you were too young to appreciate the 90s.

 

[BlancoNino]

Originally posted by: Todd33
I didn't compare anything, I simply added a quote from a link that someone else provided. Go ahead and compare tax cuts.. I'd rather have a tax increases along with a balanced budget and surplus rather than what we have today. But I guess you were too young to appreciate the 90s.

The freemarkets made the 90's a desirable time to live. Too bad government keeps expanding...and hasn't decreased in the past 75+ years.