The 2013 Tax Cliff

What is meant by the 2013 “tax cliff” being formed by the Obama Administration? (1) (2) In 2013 you would have the following recipe for a tax cliff:

(1) Bush era reduced tax rates expire,

(2) temporary tax holiday regarding payroll tax expire,

(3) proposed increase in marginal tax rates proposed in the so called “Obama Jobs Plan” come into effect,

(4) the laundry list of tax increases associated with ObamaCare come into effect.

Notes:

(1) http://www.naturalnews.com/news_000615_Heading_towards_2013_tax_cliff.html

(2) http://online.wsjWSJ_hp_mostpop_read