Close Close

Life Health > Life Insurance

Why the fiscal cliff may cost you $6,000 in 2013

Your article was successfully shared with the contacts you provided.

If the country goes over the fiscal cliff, the impact would be borne most heavily by the wealthy. But the average middle class family could take a steep hit as well. Take for, instance, a family making $82,000 a year with four children. Both spouses work. Due to a combination of expiring tax cuts, that family would pay an extra $530 a month in taxes, or more than $6,000 a year.