who are the y kidding? Bill Clinton is the one. He passed the telephone tax by Presidential decree instead of going to Congress.
Who are *you* kidding? Looking at tax revenues adjusted for inflation, they are at the highest they’ve ever been, at least since Kennedy was president.... As a % of GDP, they’re still lower, but rapidly increasing...
You see, brackets are adjusted for inflation, not GDP. So if you sit still on taxes for any prolonged length of time, you actually will push people into higher tax brackets through real bracket creep.
That’s exactly where CBO attributes a very strong majority of the stimulus in revenues in recent years to have come from - not from increased economic activity, but from the default tax increases people are seeing as their wages outpace inflation.
Its a stealth tax increase, but it can be viewed as a tax increase....