A tax change to retirement accounts is expected to raise money in the short term, but it could lose the government a lot of money further down the road.
Congress may have averted the fiscal cliff. But the United States is still going to hike taxes and cut spending significantly in 2013—more than many European countries that are engaged in austerity programs.
Yes, the bill hits the wealthy with higher taxes, but it targets the middle-class and working poor as well. A subset of very well-off Americans emerge comparatively unscathed.