AI
Monday, October 01, 2012 1:05:53 PM
Americans would pay $536 billion more in taxes if Congress doesn’t act on fiscal cliff
Nearly 90 percent of Americans would face higher taxes next year if Congress permits the nation to hurtle over the “fiscal cliff,” the year-end precipice of tax hikes and spending cuts that threatens to throw the nation back into recession.
A study published Monday by the nonpartisan Tax Policy Center finds that taxes would go up by a collective $536 billion next year, or about $3,500 per household, reducing after-tax income by about 6.2 percent.
http://www.washingtonpost.com/business/economy/americans-would-pay-536-billion-more-in-taxes-if-congress-doesnt-act-on-fiscal-cliff-report-says/2012/10/01/e5e0635a-0bdc-11e2-bb5e-492c0d30bff6_story.html
Nearly 90 percent of Americans would face higher taxes next year if Congress permits the nation to hurtle over the “fiscal cliff,” the year-end precipice of tax hikes and spending cuts that threatens to throw the nation back into recession.
A study published Monday by the nonpartisan Tax Policy Center finds that taxes would go up by a collective $536 billion next year, or about $3,500 per household, reducing after-tax income by about 6.2 percent.
http://www.washingtonpost.com/business/economy/americans-would-pay-536-billion-more-in-taxes-if-congress-doesnt-act-on-fiscal-cliff-report-says/2012/10/01/e5e0635a-0bdc-11e2-bb5e-492c0d30bff6_story.html
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