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Will the "Largest Tax Increase in US History" lie work better than the Death Panels lie?

Asked by ETpro (34605points) August 4th, 2010

The GOP talking points writers are at it again. Their Death Panels lie and Massive Government Takeover of Healthcare lie failed to derail health care reform. Will the “Largest tax increase in US history” lie be able to swing enough opinion to pass a new tax break for the richest 2% when Bush’s previous one dies due to its sunset clause?

The “Largest tax increase” claim is apparently being made because, if all the Bush tax cuts were allowed to sunset in 2011 as the original bill required, the total tax revenue increase in non inflation adjusted dollars might be the largest in US history. Nowhere close if they were expressed in inflation adjusted dollars, or percent of GDP, but we all understand spin masters ignore the subtle details—like truth. Still, this particular lie goes far beyond simple spin. The truth is no one is even talking about letting all the Bush tax cuts expire. Democrats propose to extend all middle class tax relief, but allow the top rate, for the richest 2% of Americans to reset back to Clinton era levels when it expires. That only affects those who earn, after all deductions, taxable income of over $250,000 if filing jointly or $200,000 if filing singly.

Just for the record, the reset would hardly be even close to the largest tax increase in US history. Here’s the facts that Fox never tells their listeners.
Reset 4.60%
1968 5.25%
1944 6.00%
1951 6.64%
1993 8.60&
1936 16.00%
1933 38.00%

And while we are at setting the record straight, let’s note that the largest increase in 1933 was proposed and signed into law by Republican Herbert Hoover.

Despite all the hand wringing and histrionics about the national debt, opposing the sunset clause means Republicans are solidly lining up against paying down the deficit. Any help for laid off workers or for the struggling and the poor MUST be paid for so we don’t increase the National Debt. But tax breaks for the richest 2%, those can go on the National Debt. They are so vital that our children should pick up the tab to fund them. When a party has to use lies, spin and propaganda to sell their agenda, what does it say about their agenda?

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