re: #86 Cannadian Club Akbar

That’s what the battle between the White House and Congress has been about all year.

Obama want’s the tax increases only to go into effect for the top incomes, but not the lower brackets, and thus decrease the annual deficit. Congress, controlled by the GOP, which in turn cater to the top income bracket, wants the upper income tax rates to drop.

The “cliff” is approaching because a final tax law change can’t be agreed to.