Tax Increases Almost 3 Times Larger Than Sequestration Cuts
Created on November 19, 2013
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READ the original report, "Tax Increases Really Hurt Growth and Jobs."
Since President Obama took office, he implemented two major tax increases through Obamacare and the fiscal cliff deal, and he allowed the payroll tax holiday to expire. In total, taxes will increase by more than $3.2 trillion over 10 years while sequestration cuts spending by only $1.1 trillion over that period.
Sources: Congressional Budget Office, Office of Management and Budget, and Joint Committee on Taxation.
Keywords: sequestration, tax hikes, obamacare