For those of you unfamiliar with this topographical reference, the fiscal cliff refers not to a physical precipice but to the metaphorical one off which the U.S. economy will fall at the start of 2013 unless Congress acts. An array of tax cuts and transfer payments are scheduled to expire on or about Jan. 1. Among them, the lower marginal income, capital-gains and dividend tax rates, enacted under President George W. Bush and already extended twice; the two-percentage-point reduction in the employee portion of the
Showing posts with label Fiscal Cliff’. Show all posts
Showing posts with label Fiscal Cliff’. Show all posts
Monday, August 13, 2012
Is ‘Fiscal Cliff’ a Keynesian Topography Mistake?
Never let it be said that the
financial community has a deaf ear for language. The same folks
who saw “green shoots” after the “soft patch” are now
focusing their collective attention on the “fiscal cliff.”
For those of you unfamiliar with this topographical reference, the fiscal cliff refers not to a physical precipice but to the metaphorical one off which the U.S. economy will fall at the start of 2013 unless Congress acts. An array of tax cuts and transfer payments are scheduled to expire on or about Jan. 1. Among them, the lower marginal income, capital-gains and dividend tax rates, enacted under President George W. Bush and already extended twice; the two-percentage-point reduction in the employee portion of thepayroll tax; and extended
unemployment benefits.
For those of you unfamiliar with this topographical reference, the fiscal cliff refers not to a physical precipice but to the metaphorical one off which the U.S. economy will fall at the start of 2013 unless Congress acts. An array of tax cuts and transfer payments are scheduled to expire on or about Jan. 1. Among them, the lower marginal income, capital-gains and dividend tax rates, enacted under President George W. Bush and already extended twice; the two-percentage-point reduction in the employee portion of the
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