https://hotair.com/headlines/archives/2012/12/29/flunking-basic-math-raising-taxes-wont-avoid-the-fiscal-cliff/feed/HotAir is the leading conservative blog for breaking news and commentary covering the Biden administration, politics, media, culture, and current elections.en-usTue, 09 Jun 2026 08:14:35 -0400<![CDATA[Conveniently omitted from the current fiscal-cliff discussions is the reality that for individuals earning more than $200,000 a year, their taxes already are going up in 2013, courtesy of Obamacare, which includes a new 1 percent tax on persons making more than $200,000 a year as well as an additional 3.8 percent tax on capital gains, investment income and certain home sales. These two new taxes will generate $317.7 billion over a 10-year period, or $31 billion a year — covering just a fraction of the current $1.1 trillion deficit for fiscal 2012 alone.]]>Sat, 29 Dec 2012 21:45:30 -0500<![CDATA[Allahpundit]]>https://hotair.com/headlines/2012/12/29/flunking-basic-math-raising-taxes-wont-avoid-the-fiscal-cliff-n280686