$6,000: What The Fiscal Cliff Will Cost The Typical Middle Class Family

December 17, 2012 4:49 pm

Here is an interesting stat we spotted today:

“So how much will the Cliffs taxes go up we go off the cliff? $530 per month, or more than $6,000 a year. Yes, you read that right. Here’s how:

Payroll Tax Increase:
Annual hit: $1,640

Expiration of the Bush Tax Cuts:
Annual hit: $2,677

Decreases in the Child Tax Credit:
Annual hit: $2,000

Dividend Tax Increases:
Annual hit: $39

Read more: http://business.time.com/2012/12/17/why-the-fiscal-cliff-may-cost-you-6000-in-2013/#ixzz2FKQwP3mF

The cliff would need to be averted, for the average American family to escape this impact.

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