I just heard an ABC News Report on the Fiscal Cliff that claimed if the President and Congress don’t act, we will go back to the Bush Era Tax Rates. What a stunning obfuscation! We are currently under the Bush Era Tax Rates which until the Democrats CRA destroyed the economy, were bringing record revenues to the Treasury.
No, ABC; after 1/1/2013, we will be going back to the Clinton Era tax rates. Too bad we won’t go back to the Clinton Era 18% of GDP spending (now 25%).