Budget blunders

Unbelievable news with the new budget.

There is another aspect which makes the raw numbers even more pernicious. Many of the new tax increases are a function of the taxpayer's overall income, such as caps on deductions for mortgage payments, state and local taxes, and charitable deductions, and the new 20-percent capitals gains tax bracket.

Tying these items to overall income creates uncertainty, since the value of the deductions and the cost of the capital gains will not be know until after the fact, when the taxpayer's total annual income is calculated.