The silver lining in the Supreme Court's upholding of the Affordable Care Act for Republicans was the court's ruling that the fine to be paid by people who can afford it but choose not to buy insurance was a "tax" not a "penalty."
Their spokesman, Rush Limbaugh, rushed to the airwaves to declare, "What we now have is the biggest tax increase in the history of the world."
And what we have there is a big, fat lie:
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.
We used the Treasury Department's four-year data on the revenue effects of large tax increases signed by Ronald Reagan, George H.W. Bush and Bill Clinton; along with CBO projections of the revenue effect of the mandate adjusted for its GDP projections during the mandate's first four years.
The mandate is tiny by comparison.
And, from Kevin Drum:
This is so stupid it hurts…
rest at
http://www.pensitoreview.com/2012/07/05/gop-obamacare-lies-the-affordable-care-is-not-the-largest-tax-increase-in-the-history-of-the-world-not-hardly/
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