The 2013 Tax Cliff

The Wall Street Journal has an editorial under the headline "The 2013 Tax Cliff" noticing that in 2013, "The capital gains and dividend taxes would also rise to an expected 20% rate from 15% today....Also starting in 2013 are two of ObamaCare's biggest tax increases: an additional 0.9-percentage point levy on top of the 2.9% Medicare tax for those earning more than $200,000, and a new 2.9% surcharge on investment income, including interest income. This will further increase the top tax rate on capital gains and dividends to 23.8%, for a roughly 60% increase in investment taxes in one year."