Think again.
The best we’re going to get, is already in place.
Hitting the edge of the fiscal clif, will be much like watching Greece on the big screen and in slow motion.
The fall will be majestic, if inevitably tragic in the end.
The sequester is in place and is the applicable law as of this minute. The tax rates, which seemed to be good enough for the Clinton years, are somewhat more onerous, but not unbearable, at least on the short term. The big roadbloack, and one that the Current Regime is trying desperately to keep eyes averted from, is the bundle of NEW taxes that become effective with the adoption of the “Patient Protection and Affordable Care Act of 2010”, which has been declared a tax package by no less than the US Supreme Court.
That is the real tax increase, and shall impact hiring and general productivity far more than a mere increase in the income tax and capital gains tax increases.