"Good Times!"

"The real scandal of the deal is that taxes went up more for people making $50,000 than those making $400,000, thanks to a combination of ending the payroll tax cut 'holiday' and keeping the Bush tax cuts for those making between $250,000 and $400,000. The deal also continued the practice of protecting the wealth of the super-rich. Yes, the capital gains tax rate went up from 15 to 20 percent, but it was 28 percent before Clinton presided over its reduction during the 1997 tech boom, and didn’t apply to dividends until the Bush tax cuts. Now dividends remain taxed at the lower, privileged rate as well. The deal maintained the estate-tax exemption at $5 million, though it was set to revert to $1 million, while bumping up the rate from 35 to 40 percent. Note that the deal did nothing to hike the 'carried interest' rate that helped Mitt Romney pay a scandalously low tax rate.
"All of this reflects the fact that nobody involved in D.C. policy debates makes $50,000 or less, and most probably dwell in that sweet spot protected by the deal, the $250,000 to $400,000 realm of the 'not really rich,' in the formulation of coastal Democrats as well as all Republicans. And not surprisingly, they’re big winners in the deal."

Joan Walsh in Salon reacts to the "fiscal cliff" deal.

As does John B. Judis in The New Republic.