Friday, January 4, 2013

The Fiscal Cliff: the Good and the Bad

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The Fiscal Cliff crisis has been averted...for now.

The good? About 80 percent of the Bush tax cuts will remain in place for 98 percent of the population.

The bad? Republicans allowed the entire discussion to take place without ever mentioning the 20 new taxes introduced by ObamaCare, amounting to about $1 trillion over the next 10 years. Five of them started on January 1. In a column at, NCPA President John C. Goodman explains that the new ObamaCare taxes will hit everything from dividends and capital gains to day care and services for special needs children.

A solution? The NCPA has a reasonable, revenue-neutral proposal: push back the start date of the five new ObamaCare taxes and pay for that by pushing back the start date of ObamaCare.

Sadly, the Republicans didn't even bring this idea up in the negotiations. It is still not too late to try it out.

We appreciate your continued support as we begin another productive year!

Thanks for your support!

Richard Walker
Chief Operating Officer

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