The fiscal cliff deal America's European moment

A last minute fiscal cliff deal/compromise was reached in Washington to avert the initial stages of a potential economic meltdown. The deal was received warmly by the markets given the extent of the relief rally that we have experienced thus far on the

Payroll tax holiday allowed to expire in fiscal cliff compromise.

From Ezra Klein: 1. Details on the deal: 39.6% tax rate for individual income over 400k/family income over $450k. AMT patched permanently. 2. Dividends and cap gains taxes at 20% of the $400k/$450k levels. PEP at $250k.

Minutes after the House of Representatives approved a bipartisan Senate deal to avert the "fiscal cliff" and preserve Bush-era tax cuts for all Americans making less than $400,000 per year, President Obama praised party leaders and wasted little time

Senate Democrats and Republicans reached a deal to undo the majority of the so-called “fiscal cliff” by extending most of the Bush tax cuts while levying Clinton-era rates on households with more than $450000 in income.