Clnton's 1993 Tax increase= Biggest?

[DrDeth]

In speeches and fundraising appeals the GoP and GWB keep making the claim that Clintons 1993 tax increase (which Kerry voted for) was "the biggest in History". Well, was it?

Not according to a Treasury Report:
http://www.ustreas.gov/offices/tax-policy/library/ota81.pdf

written by Jerry Tempalski, Office of Tax Analysis.

Adjusted for inflation & such, the very largest would be the one in 1942- to pay for WWII. Well, sure, and that had a pretty good excuse, and it was 60 years ago. So maybe the GOP meant "recent History"- again- not quite. Edging out Bill's 1993 tax increase was "TEFRA" passed in 1982, which is the largest tax increase since 1968. Who was Prez? Why Ronnie! :eek:

Now- true- Clinton's 1993 tax increase was pretty large, but it also only hit the top 5% with any significant income tax increases- I saw nary a dime increase, and I doubt if many here saw any either. :dubious: To be fair- TEFRA mainly closed Tax Shelters so not a lot of dudes here got hit very hard by that either. But it is interesting to note that the GOP is railing on about "the largest tax increase in History" where in actuality "Saint Reagan" was really responsible for the Largest. :rolleyes:

[rjung]

George W. Bush tell an untruth?

NO!

It cannot be!

:eek: ;)

What exactly are we debating here? The tired ol' right-wing spin that Ronald Reagan was a master of fiscal responsibility? The uncanny ease with which George W. Bush blatantly lies to the world with a grin and a wink? The mind-numbing zombified ease by which Bush supporters lap up this garbage? Or all of the above?

[Harborwolf]

It also comes across as kind of silly when you remember how well the economy was doing during Clintons term. I'm not going to say that one was a result of the other, but it seems like the kind of remark that leads to an easy rebuttal.

[Malodorous]

And God forbid we recreate the fiscal policies of the 90's.

So are there any qualifiers we can put in Bush's statement to make it true? Was Clinton's tax hike the largest tax hike in history on income or something like that.

[aahala]

Whereever Bill or Ron's tax increase is on the hit parade, they are likely to move down a spot or two in the near future.

The annual federal deficit, present and future, and total national debt have not yet fully reflected tax cuts passed but not implemented, nor do these figures account for growing Iraq costs or the fast approaching Social Security crunch.

"The era of big tax cuts is over."

[DrDeth]

Very true- someday soon someone willhave to undo most of Bushes tax cuts- and of course the GOP will use that as ammuntition against them- IF they are a Dem, of course. If Repub, they'll ignore it like they ignore TEFRA. :rolleyes:

[blowero]

That's it -I'm voting for Bush. I sure wouldn't want any of that nasty prosperity we had in the 90s. ;)

[DrDeth]

And God forbid we recreate the fiscal policies of the 90's.

So are there any qualifiers we can put in Bush's statement to make it true? Was Clinton's tax hike the largest tax hike in history on income or something like that.

Well, certainly not on Income, as the increase in Transporation Fuels Tax was one of the things that made it so high. But yeah, when you're dealing with statistics, and the two figures are rather close- there is always a way to play with the numbers so that one gets out ahead of the other. But still the 1942 WWII one can't be beat.

"One of the highest tax increases in recent times" would be correct, however.