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What the CBO refers to as a fiscal cliff, people on Capitol Hill call Taxmageddon.
As Tammy Frisbee of the Hoover Institute told Engage America, “Taxmageddon drives home the reality that our country's tax policy is a fragmented mess right now. I think there's a good chance that the promise of using the moment to enact an overhaul of the tax code will come to pass."
Hopefully Frisbee is right. The sooner the President and Congress can come to an agreement on how to treat the looming expiration of these tax policies the sooner we can lift the economic uncertainty surrounding personal and corporate finances.
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