IS OBAMACARE THE LARGEST TAX INCREASE IN HISTORY? – NO.
Republicans would have you believe that the the “Patient Protection and Affordable Care Act” (AKA Obamacare) will generate the biggest tax increase in history. The facts indicate otherwise. Calculating tax increases as a percentage of GDP allows us to compare tax increases from different eras.
The following chart, created by economist Austin Frakt, shows tax increases as a percent of GDP
Obamacare is nowhere near the top. It is not even as large as Reagan’s 1982 tax increase. In fact that conservative icon has a total of 5 tax increases on the chart.
HOW MUCH MONEY HAS ‘CITIZENS UNITED’ UNLEASHED?
The Supreme Court ruled in ‘Citizens United’ that corporations have first amendment, free speech rights. It confirmed that opinion by slapping down Montana’s law banning corporate money in local elections.
So how much money have corporations and other groups shelled out in the 2012 primaries/presidential race? Since February 14th 2011 a total of 63 super PACs have spent $115.3 million — 64% of which has been spent opposing candidates.
But if you think that $115.3 billion is a lot, consider that it doesn’t include the money the candidates have raised themselves.
By the end of the campaign this election may end up costing the candidates and their Superpacs close to $2 billion.
ROMNEY’S KERRY MOMENT
A picture of John Kerry windsurfing was used to great effect to portray him as an out of touch elitist – adding a nail to the coffin of his 2004 campaign. Now, another wooden Massachusetts presidential candidate, Mitt Romney, has been photographed on a jet ski – being driven by his wife.
There is generally nothing wrong – especially in this century – in having the wife drive. But it is bad optics for a presidential candidate. It isn’t a sexist thing, if Hilary were running for president it wouldn’t look good for her image as a leader if Bill were driving.
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