The U.S. Senate, on January 1, 2013, at 0200hrs (that's 2AM for you non-military types), voted 89-8 to pass a "fiscal cliff deal" bill that raises taxes by $600 billion (in addition to ObamaCare taxes). The Senate proclaimed the bill to be a massive tax cut. How could they claim that? Well, on January 1, 2013, at 0000hrs the (so-called) Bush tax cuts expired. The tax cuts were renewed for most Americans under the Senate bill. So, technically, the Senate was correct: it did, indeed, cut tax increases if one examines only that part of the bill. Unfortunately, we taxpayers are stuck with the entire bill. The Senate bill also extended long-term unemployment benefits that were set to expire at the end of 2012. It delayed sequestration for two months, which portends another big fight combining the sequestration and debt ceiling deals. The deal also prevents Medicare cuts and extends Department of Agriculture programs. The 157 page bill was presented for a vote before many senators...(Read Full Article)