A lot of people, including Federal Reserve Chairman Ben Bernanke, are worried that we are nearing the edge of a fiscal cliff. I'm more concerned with the hole we are already in.The "fiscal cliff" refers to the scheduled expiration of a slew of tax laws - most notably the "Bush-era" tax cuts, which have already been extended well into the Obama era, and the "one-year" reduction in employee FICA taxes, which is now in its second year. Combined with the automatic spending reductions also ...
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