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Obama Tax Plan Hit on the Economy Nearly $2 Trillion

Created on December 14, 2012

Obama Tax Plan Hit on the Economy Nearly $2 Trillion

CHANGE IN GDP, IN BILLIONS OF INFLATION-ADJUSTED 2005 DOLLARS

The Obama tax plan will reduce gross domestic product by an average of $196 billion a year over the next 10 years.

CHART 1

Source: Heritage Foundation calculations using data from the IHS Global Insight 2012 November Short-Term U.S. Macroeconomic Model.

Average, 2013–2022: –$196.2 billion

B 2752

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