To say that there is far from a shortage of pundits weighing in on the fiscal cliff/debt ceiling, would be an understatement. It is interesting to hear from someone who beat the S&P 500 over the past 15 years. Recently, Ron Muhlenkamp wrote an op-ed on the topic:
To welcome in the New Year, Congress and the Obama administration have addressed one side of the deficit problem: government revenues (taxes).
Dan Loeb’s Third Point Returns 1.9% In Jan Amid Market Turmoil
Activist hedge fund Third Point LLC recorded a profit of 1.9% in January, according to a copy of the firm's latest performance tear sheet, which ValueWalk has been able to review. These figures seem to suggest that the hedge fund managed to make the most of January's market volatility, as other hedge funds struggled. The Read More
For most Americans, they’ve gone halfway, keeping income tax rates at prior levels for those couples earning less than $450,000 per year (refer to 2013 tax table).
But they also allowed the payroll “tax holiday” to expire, so automatic deductions for FICA (Social Security) taxes will increase by 2 percent of gross pay for nearly all wage earners.
Full op-ed (subscription required) here.