Obama to speak at 1:30 PM. Based on what they are leaking taxes go up a few % for singles over $400K and families over $450K. A few other things are moved around (div taxes, estate taxes) and essentially this does nothing for the deficit, it just kicks the can down the road. Shocker. The only question is are they going to kick the sequester for 3 months as the GOP wants, or 12 months as the Dems want. That way we can do it all over again in 3 OR 12 months. Of course the fiscal cliff comes first.
Looks like this raises $60B a year in revenue – i.e. one Sandy storm a year.
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