Tuesday’s tax increase is the biggest in decades

http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/31/tuesdays-tax-increase-is-the-biggest-in-decades/?wprss=rss_business

Based on data from the Treasury Department and Moody’s Analytics, here’s a chart showing, for tax increases since 1940, the magnitude of the tax hike in the year following enactment as a percentage of gross domestic product. The three red bars represent options for what will happen starting tomorrow.