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Stewart Weissman's Blog Report, August 3, 2010:

The tax cuts that were enacted in 2001 and 2003 will soon expire at the end of 2010. Those tax cuts include not just the 15% top income tax rate on capital gains and qualified dividends, and the reduction of the top income tax rate from 38.5% to 35%, all of which benefit upper-income taxpayers, but also the 10% income tax bracket, marriage penalty relief, and increases in the standard deduction, all of which benefit lower- and middle-income taxpayers.

If Congress ends up in a political gridlock, which looks to be the case, it could result in one of the largest income tax increases in American history, and it will happen - not because of something Congress does - but because of what it does not do.