This tax musing shows how much the ‘Fiscal Cliff’ would cost each income group if all the Bush Tax Cuts expire. The attached article by Ian Salisbury tries to break tax increases by group and is worth a look:
http://www.smartmoney.com/taxes/income/what-a-fiscalcliff-plunge-would-cost-you-1353009406152/?mg=com-sm#tabs
So it looks like if the tax cuts expire, everyone will be unhappy, especially the politicians, since it will be their fault if nothing gets done!
Remember, for financial, accounting and tax musings,
You can count on us to count for you!
email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com