How much has President Obama raised taxes so far?

and how does that compare with the Republican/Conservative standard bearer first term?

"Reagan may have resisted calls for tax increases, but he ultimately supported them. In 1982 alone, he signed into law not one but two major tax increases. The Tax Equity and Fiscal Responsibility Act (TEFRA) raised taxes by $37.5 billion per year and the Highway Revenue Act raised the gasoline tax by another $3.3 billion. According to a recent Treasury Department study, TEFRA alone raised taxes by almost 1 percent of the gross domestic product, making it the largest peacetime tax increase in American history. An increase of similar magnitude today would raise more than $100 billion per year." The National Review

National Review (NR) was founded by the late author William F. Buckley, Jr. true Conservatives know who he was. Bruce Bartlett a domestic policy adviser to President Ronald Reagan.

15 Answers

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  • Anonymous
    8 years ago
    Favorite Answer

    By NEGATIVE several %.

    One-third of the stimulus was in the form of tax cuts.

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  • Shilo
    Lv 7
    8 years ago

    None, except for a tax on cigarettes.

    I found this interesting:

    "During the eight years of the Clinton Administration the Federal government collected a total of $5.66 trillion dollars in individual income taxes. During the eight years of the Bush Administration the Federal government collected approximately $7.45 trillion dollars in individual income taxes. The rich - that is, the top 1% of taxpayers - not only forked over a trillion dollars more to Uncle Sam under Bush than under Clinton, their share of the income tax burden increased from 33% to 38%."

    -Contrarian Musings

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  • 3 years ago

    Ahhh.. yet you're skipping over an substantial section whilst it includes Reagan: between 1980 and 1988, our GDP advance went from damaging 0.3% to 4.a million%, unemployment dropped from 7.a million% to 5.5%, and inflation fell from 13.5% to 4.a million%. As Ronald Reagan decreased the marginal tax value from a intense of 70% to twenty-eight%, our financial device extra 21 million new jobs. After the malaise of the previous 20 years, u . s . became lower back, status tall and powerful. ____________ whilst i've got no longer considered an advance in taxation under Obama (yet), I even have particularly considered a substantial advance interior the fee of residing. the continued depreciation of the money has particularly screwed our paying for potential. the fees of each and every thing have been skyrocketing; Utilities, groceries, gasoline, and now upload to that an advance of 37% to the fee of my medical wellness coverage (as end results of the ObamaCare), and the very thought of the potential of extra advantageous taxation is frightening to assert the very least.

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  • 8 years ago

    He lowered taxes.

    How many Democrats have tried to raise taxes on the middle class as compared to Republicans?

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  • And by the end of his term, government as a percentage of GDP was substantially lower then it is now. The only thing stopping Obama from raising taxes this year is a Republican controlled House.

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  • 8 years ago

    Most people are paying LESS in income taxes than they paid in 2008. Use any source you like... reality, is reality.

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  • 8 years ago

    It's hard to raise taxes on the unemployed, but when he had a majority in both houses he did not raise taxes on the rich ONE PENNY, even though it was his daddy's dream, see number 3

    http://blog.mises.org/8007/obama-hid-his-fathers-s...

    mainly because he was too busy SPENDING in his first 2 years, now he has to pay for all that spending

    http://www.myheritage.org/news/one-thousand-days-o...

    ***************************************************************************************************

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  • ?
    Lv 7
    8 years ago

    The president doesn't raise taxes, congress does. So despite Obama's efforts to raise taxes, he can't.

    Edit: Adas, you must think we're stupid. Income tax hasn't changed at all. If your income tax has gone down it is because you are making less money.

    Source(s): 3rd grade civics.
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  • Anonymous
    8 years ago

    Probably none yet but the damage has yet to come when Obama care takes place and all this debt bites us in the butt.

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  • Anonymous
    8 years ago

    You dont have to raise taxes when you put people in debt

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