The Thursday wrap
The Tax Policy Center calculates that the fiscal cliff deal will, on a percentage basis, see workers making $30,000 “take a bigger hit” than those earning $500,000. The former will see taxes jump 1.7 percent while those in the latter group will see taxes increase by 1.3 percent. “Progressivism” in action once again. ... The New York Times' resident European socialism economics columnist (hint: Paul Krugman) has rejected any notion that he should be this nation's next secretary of the Treasury. Not that anybody offered him the job. “Progressives” not only are economics ignorami, they're modest, too. Ahem. ... House Speaker John Boehner says President Obama continues to insist that the federal government doesn't have a spending problem. The president blames the Deficit That's Eating The Nation on rising health care costs, which, of course, because of the specter of ObamaCare are rising even more. Which suggests Mr. Obama audited Critical Thinking 101 through 405. ... The folks at AccuWeather say you'd better enjoy the January thaw because a pretty brutal dose of Arctic air isn't far off. And they go as far as to suggest “folks may want to check their supply of fuel for the second half of the winter sooner rather than later.” As we like to say, “Honey, get ready to throw another log on the fire, it's going to get cold outside.”
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