Chart Of The Day

Andrew Sullivan —  Dec 29 2012 @ 3:28pm


Matthew O'Brien breaks down the fiscal cliff's tax hikes:

If all of the tax cuts, credits, and deductions set to expire at year end do in fact expire, incomes will fall off a tax cliff. Median earners will have 4 percent less in take-home pay in 2013 than they otherwise would; households making a million dollars or more would have 11.4 percent less.