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This Is Your Tax ‘Fiscal Cliff’
Posted By Barry Ritholtz On November 5, 2012 @ 2:30 pm In Politics,Taxes and Policy | Comments Disabled
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.
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