From the Deseret News this past Tuesday.
So we avoided the fiscal cliff. Forgive me if I am less than impressed with our political leaders.The temporary Bush tax cuts passed in 2001 and 2003 are now permanent for incomes less than $400,000 per year. The increase in taxes on incomes over this threshold is expected to net $617 billion over ten year. To be exact, that is $617 billion more in revenue than would have been collected had tax rates on higher incomes remained unchanged. On the spending side, automatic across-the-board cuts that would have gone into effect on January first will be delayed for two months.