Middle-class workers will take a bigger hit to their income proportionately than those earning between $200,000 and $500,000 under the new fiscal cliff deal, according to the nonpartisan Tax Policy Center.
Earners in the latter group will pay an average 1.3 percent more – or an additional $2,711 – in taxes this year, while workers making between $30,000 and $200,000 will see their paychecks shrink by as much as 1.7 percent – or up to $1,784 – the D.C.-based think tank reported.
Overall, nearly 80 percent of households will pay more money to the federal government as a result of the fiscal cliff deal.
Read more at The Daily Mail. By Hayley Peterson.
Photo Credit: 401K 2012 (Creative Commons)
Get Informed! Read More About this topic::
- Fiscal Cliff Deal Only Whetted Obama’s Appetite For More Taxes Taxes: Anyone who thinks the fiscal cliff deal will end President...
- DeMint Says Obama ‘will Get His Wish’ On Higher Taxes In Cliff Deal Sen. Jim DeMint (R-S.C.) predicted Thursday that Republicans would fold...
- Waiting For The Sequel To The Fiscal Cliff The latest horror movie from Washington — “The Fiscal Cliff”...
- Here Are The Latest Must-Know Details On The ‘Fiscal Cliff’ Debate With just hours before the United States goes over the...
- Will Obama Betray The U.S. In October Surprise Deal With Iran? A former CIA operative and spy in Iran’s Revolutionary Guard...
