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What a Post-‘Fiscal Cliff’ Deal Will Cost US Households

This is an interesting article about the real impact of the “fiscal cliff” – the boatload of changes that MAY happen at the end of this year.



What will falling off the “fiscal cliff” cost your household?A report by the nonpartisan Tax Policy Center puts the average tax increase at $3,500 per household in 2013.Some of the hardest hit will be the highest earning — and highest spending — families, who will feel an average bite of $14,000.Together, the tax effects of the fiscal cliff alone would drain more than $500 billion from the economy, the report estimated, putting a whammy on growth that would further deplete our pocketbooks.

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