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Things have been positively dizzy in Washington since the New Year - dizzy from all the spinning coming from Democrats and Republicans on how they saved us from the fiscal cliff. My personal favorite: we now have a permanent tax code. Even the great, gray lady that is The New York Times declared "A Gigantic Sigh of Relief as Tax Uncertainty Ends."Don't you believe it. These politicians will be back at the tax code in a matter of months. Why? Because there is a ceiling falling (the nation's debt limit) next month and another cliff looming (sequestration) the month after that.
As for certainty? I'm pretty certain there is now no chance for reforming our tax system for years to come. And I am certain that those of us in the middle - you know, the ones who don't hire lobbyists - will continue to be the suckers in this tax game. And no one will believe that these heroes saved the middle class from a tax hit - that is as soon as we look at our first paychecks of the year.And, oh yes, Happy New Year.
View Chris Bergin's opinion in its entirety on the taxanlaysts® Blog.
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