By Warner Todd Huston ——Bio and Archives--July 5, 2012
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But, if you look at the raw dollars of the deal, again using Drum’s numbers, the cost of Obamacare is $71.18 billion dollars. (0.49% x 2010 GDP of $14.526B). That would make it the largest tax increase ever. The second highest dollar amount in the list? Clinton’s 1993 tax increase of $33.34 billion, which is less than half of the Obama tax increase. Third would be GHW Bush and fourth Reagan.Worse, those lefties that are claiming it isn’t the biggest tax ever are leaving out all sorts of aspects to ObamacareTax in order to make its impact smaller. In other words, they lie. No surprise.
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Warner Todd Huston’s thoughtful commentary, sometimes irreverent often historically based, is featured on many websites such as Breitbart.com, among many, many others. He has also written for several history magazines, has appeared on numerous TV and radio shows.
He is also the owner and operator of Publius’ Forum.