Over the Fiscal Cliff for Tax Savings
February 2013 by Mark E. BattersbyThe so-called “Fiscal Cliff” tax package recently passed by Congress and signed into law renewed more than 50 temporary tax breaks through 2013, saving individuals and businesses about $76 billion.
What gives this illustration great importance is America may be facing the same kind of dilemmas that have brought Japan’s market such long-term grief.
On a personal level, I have been part of the business, brokerage and financial columnist worlds for 45 years, since the mid-1960s, and in all those years, I have never seen a collection of negative news items similar to what has been published during the past month. In short, taken together they may very well be describing the end of the economic world systems as we know them.
The question of relentless government payouts continues to haunt the political system.
It is difficult to look at unrestrained growth in such important monetary indicators without becoming concerned about the future stability of America's economic system.
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