but not on wealthy tax increases, however if you visit their web site you may be able to get that data from their 'tax calculator'
As rival lawmakers struggle to avoid the dreaded fiscal cliff in Washington, research shows that Americans will get a huge cut in their take-home pay if Congress can’t reach a deal on tax hikes and spending cuts.
In basic terms, the fiscal cliff is a set of dramatic tax increases and government program spending cuts that would decrease the annual deficit run up by the federal government.
It was put into a debt-negotiation process by lawmakers as a “poison pill,” an alternative so politically toxic that it would force Democrats and Republicans to agree, or face an angry mob of voters.
But an agreement was never reached in 2011, and now, the stark tax increases and spending cuts become law on January 1, 2013, unless a bipartisan agreement can be reached or the problem is pushed back into the hands of a new Congress.
The math behind the fiscal cliff can be quite complicated, but to see why politicians are scrambling to find a solution now, you only need to look at how the cliff would suck money out of voters’ paychecks, if the fiscal cliff goes unchecked.
As a rule, Americans don’t like taxes, and they don’t like dramatic tax actions. Look back at the original Tea Party in Boston as an example.
A study from the Tax Policy Center, a joint venture of the Urban Institute and Brookings Institution, shows that tax hikes triggered by the cliff will “dock the pay” of 90 percent of Americans.
“Taxes would rise by more than $500 billion in 2013—an average of almost $3,500 per household—as almost every tax cut enacted since 2001 would expire. Middle-income households would see an average increase of almost $2,000,” the group said in an October 2012 report.
more at link
http://news.yahoo.com/why-fiscal-cliff-getting-huge-paycheck-cut-162810795.html
As rival lawmakers struggle to avoid the dreaded fiscal cliff in Washington, research shows that Americans will get a huge cut in their take-home pay if Congress can’t reach a deal on tax hikes and spending cuts.
In basic terms, the fiscal cliff is a set of dramatic tax increases and government program spending cuts that would decrease the annual deficit run up by the federal government.
It was put into a debt-negotiation process by lawmakers as a “poison pill,” an alternative so politically toxic that it would force Democrats and Republicans to agree, or face an angry mob of voters.
But an agreement was never reached in 2011, and now, the stark tax increases and spending cuts become law on January 1, 2013, unless a bipartisan agreement can be reached or the problem is pushed back into the hands of a new Congress.
The math behind the fiscal cliff can be quite complicated, but to see why politicians are scrambling to find a solution now, you only need to look at how the cliff would suck money out of voters’ paychecks, if the fiscal cliff goes unchecked.
As a rule, Americans don’t like taxes, and they don’t like dramatic tax actions. Look back at the original Tea Party in Boston as an example.
A study from the Tax Policy Center, a joint venture of the Urban Institute and Brookings Institution, shows that tax hikes triggered by the cliff will “dock the pay” of 90 percent of Americans.
“Taxes would rise by more than $500 billion in 2013—an average of almost $3,500 per household—as almost every tax cut enacted since 2001 would expire. Middle-income households would see an average increase of almost $2,000,” the group said in an October 2012 report.
more at link
http://news.yahoo.com/why-fiscal-cliff-getting-huge-paycheck-cut-162810795.html