Ranking right up there with the Affordable Care Act in the category of poorly named federal legislation is the law Congress approved to avert the fiscal cliff crisis. Gene Epstein of Barron’s notes the irony.
How can you tell that politicians have a sense of humor? Well, who else would call the bill hastily cobbled together last week the American Taxpayer Relief Act? Perhaps they meant it’s a relief to know that major parts of the looming tax shock, or fiscal cliff, have been blunted, even though no relief is available for any American taxpayer, and the top 1% will pay a lot more.
