Just who and what will fall by the Dec. 31 deadline? We'll likely keep hanging on by our fingernails until Congress makes some difficult decisions about tax policy.
Expect to hear a lot of political rhetoric this election year. But how many taxpayers and businesses would really be affected by the proposed tax increase?
More tax code fairness is good, but it won't solve all the problems of the US economy. The reality is that everyone needs to pay higher taxes, plus undergo an attitude shift.
However President Obama's proposed tax on millionaires is estimated, it's small compared with the federal budget deficit.
Possible changes to tax rates for 2013 make it important for investors to focus now on what would normally be year-end tax planning for gains and losses.
Neither the Obama nor the Romney tax plan faces up to reality. Tax cuts with expiration dates are papering over the budget holes.
Even 40% of Republicans like Obama's proposal to make the rich pay more, according to a new poll. But voters still would rather cut spending than hike taxes.
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The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
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