Embracing the Fiscal Cliff
Written by: Daniel Dicker
NEW YORK (TheStreet) -- With President Obama demanding an increase in marginal tax rates and Republicans in Congress still unable to sign on to any deal that increases them, we've reached an insurmountable block -- we're going over the fiscal cliff. Despite apoplexy from the media and many in the business community over the negative economic impact from hurtling over, I'm not sure that this Armegeddon, like so many other advertised "end of economic days," is going to live up to the hype. While there will certainly be some slowdown attached with the fall, there's a lot to like about the repeal of all the Bush tax cuts and the sequestration, or automatic spending cuts. I talk about "embracing the cliff" here. This article was written by an independent contributor, separate from TheStreet's regular news coverage.