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  1. The exemption and deduction phaseout hits NY CA and a few other high income tax states the worst. Good, they voted for it. I was actually voting for the cliff because it would hit low income with some tax. Sure it would have cost me but it wouldhave lowered my mmarginal rate since I am currently in the income range where the child tax credit phases out. Btw it is not tied to inflation and result in a bump of 5% to your tax rate.

    Comment by Scott Landmann — January 5, 2013 @ 12:34 pm

  2. #1, sorry it took so long to get to your comment.

    You could not be more correct, esp given how much hype Obama et al put into their $40 a paycheck lie about the FICA tax when it was about to expire earlier.

    Comment by Tom — January 7, 2013 @ 7:47 am

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