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'Fiscal cliff' tax increases could cost Americans $3,500 per household
If the U.S. fails to overcome its fiscal paralysis, taxes will rise by $500 billion next year, an average of nearly $3,500 per household, according to Washington think tank Tax Policy Center.
As reported by Reuters, if the country plunges off the "fiscal cliff" in January, taxes will rise for 90 percent of Americans due to automatic increases in income and payroll taxes plus other financial shocks.
IN FOCUS TODAY
Wednesday, May 22, 2013 - 6:35am
WYPR's Fraser Smith and political consultant and columnist Laslo Boyd talk about how Baltimore...
Tuesday, May 21, 2013 - 4:44am
For Baltimore businesses, this is "Clean Your Files" day, part of the city's campaign to...
Monday, May 20, 2013 - 6:35am
WYPR's Fraser Smith and Luke Broadwater of the Baltimore Sun talk about the Baltimore City...