« Can't Tell the Players Without a Pogrom | Main | Life Under the Rain »

November 14, 2012

Everything To Know About The Fiscal Cliff

It’s estimated that the fiscal cliff will affect 88% of taxpayers, most of whom will see a tax increase of 5%

if the tax cuts do expire and spending cuts kick in as planned. The Tax Policy Center estimates that if the cliff policies continue as planned, it will cost middle-income families about $775 a year. The top 20% of earners would end up with a tax increase of 5.8%, the bottom 20% of earners would face an increase of 3.7% and the middle bracket’s taxes will rise 3.8%. The cuts in government spending would also eliminate around two million jobs. -- - Business Insider

Posted by gerardvanderleun at November 14, 2012 9:58 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

I would be glad to pay the higher tax rate if it meant reducing federal revenues and getting rid of 2M federal jobs. In fact, I'd pay twice the proposed increase if it reduced federal revenues even more, and got rid of 4M federal jobs. Maybe the tax cutters have been going at this all wrong.

Posted by: BillH at November 14, 2012 2:27 PM

Post a comment

Remember Me?

(you may use HTML tags for style)