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How Would You Pay $2,000 More In Taxes After The Fiscal Cliff?

7:28 AM, Dec 3, 2012   |    comments
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WASHINGTON (WUSA) -- We have been talking for weeks now about your taxes going up, if we go over the Fiscal Cliff. So, how would you be able to pay for that? Let's crunch some numbers and come up with some ideas.

Here's where we'll start: Let's say you are a family making around $60,000 a year. The White House says your taxes will go up by about $2,000. That works out to be an extra $160 you need to cut from your budget every month.

For middle class families it's not easy to cut an extra $2,000 from budgets. It's also been a rough decade for their paychecks. The Census Bureau found that between 2000 and 2010, family incomes decline.  It's the first time for a decline since the Census Bureau started keeping record in the 1950s. There is not a lot of fat left in those budgets to cut.


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