evidence: From President Biden calling the TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. Cuts and Jobs Act the "largest tax cut in American history," to former President Trump claiming that Biden "wants to raise your taxes by four times," the campaign rhetoric on taxes may be sparking some confusion. [...] On a gross basis, Biden would increase taxes by $4.4 trillion (an average of 1.19 percent of GDP per year) before reducing taxes by nearly $900 billion through expanded tax credits and preferences (an average of -0.25 percent of GDP per year). Together, the tax changes would increase average annual revenue by 0.94 percent of GDP, which would rank as the 9th largest tax increase since 1940 and the 2nd largest outside of wartime.