The Coming Taxmageddon Is Like Nothing The Economy Has Ever Seen Before

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics International Video Latest Tuesday, May 1, 2012 The Coming Taxmageddon Is Like Nothing The Economy Has Ever Seen Before Earlier we wrote about Citi's Steven Wieting calling the 2012 fiscal cliff 'so ridiculously large,' which is some language we're not used to reading in Wall Street research. In that same report, Wieting has a great chart which puts the issue in perspective. Historically, the change in total personal taxes as a percent of GDP moves roughly in line with the year-over-year change in GDP. But in 2012, all that will change. As you can see, the expected surge in taxes as a percentage of GDP will almost certainly blow past any growth we'll see at the same time. Read » Also On Money Game Today: The Next 19 Hours Will Be Critical For The Global Economy EXCLUSIVE: Jim O'Neill Describes Each Of The BRICs And Next-11 Growth Markets In 60 Seconds There's More And More Evidence That Spain Is The New Greece Details Of This Morning's Massive $1.24 Billion 'Gold Finger' Trade Advertisement CHART OF THE DAY: The #1 Reason The Housing Recovery Is So Slow CHART OF THE DAY: REMINDER: This Is What's Crushing GDP CHART OF THE DAY: GUNDLACH: This Is The Chart That Says Apple Is Going To Plunge Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: ipat39@gmail.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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