This Is Why They Call It TAXMAGEDDON

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics International Video Latest Monday, April 16, 2012 This Is Why They Call It TAXMAGEDDON This weekend, NYT's David Leonhardt coined the term 'Taxmageddon' to describe the huge tax hikes that are coming at the end of 2012 if Congress does nothing. It sounds like that term is going to stick. It's being used on a Mitt Romney call with reporters today. So how big of a deal is the expiration of all these tax cuts? This chart from Strategas Research, posted by Jim Pethokoukis, puts the hikes into some very helpful context. The potential fiscal drag is 3.5% of GDP, vastly more than any other previous tax hike, and bigger than the last 6 combined. Read » Also On Money Game Today: Apple Shares Got Demolished More In The Final Few Minutes Of The Day There Are Only 2 Fundamental Factors That Matter In The Stock Market Here Are The Fed Transcripts That Dylan Ratigan Is About To Release Suddenly, AOL Shareholders Are Standing Up For Armstrong Advertisement CHART OF THE DAY: This Is The Critical Chart For 2013 CHART OF THE DAY: Some Bad Economic News That Everyone Is Mistaking For Good CHART OF THE DAY: Apple Is About To Be Worth More Than All The Companies In Spain, Portugal And Greece COMBINED Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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