This Is Your Tax ‘Fiscal Cliff’

Without legislative action, most of the tax cuts enacted since 2001 will expire on Jan. 1, when new taxes also take effect. Result: the government would take in more than $535 billion in increased revenue and the average family’s tax bill would go up $3,500.

 

Source: NYT

 

Breakdown of the increases, ranked by the Tax Policy Center in order of likelihood.

Print Friendly, PDF & Email

What's been said:

Discussions found on the web:

Read this next.

Posted Under

Uncategorized