According to the fine print of the fiscal cliff deal, President Obama will keep his pledge to raise taxes on people making more than $250,000 a year, or the top 2 percent. The Congressional compromise, however, uses a higher threshold, raising tax rates on individuals making $400,000 or more, and $450,000 for couples. This means a tax hike for less than 1 percent of all Americans. And yet, there is still a hike in store for Americans making more than $250,000. What exactly is going on?
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