What the 'Fiscal Cliff' Means for Typical Pocketbooks

The fiscal cliff is nigh! But what does it all mean for your pocketbook? In short, before the end of the year, Congress has to determine whether and how it will extend the tax cuts that most Americans have enjoyed for years. Lawmakers will also try to avert hundreds of millions in spending cuts that are expected to go into effect Jan. 2, per the terms of the Budget Control Act of 2011. The worst-case scenario for the typical American is that just about every taxpayer will see their taxes go...Full Story
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