Middle-earners hit hardest as it's revealed workers making $30,000 will take a bigger hit than those earning $500,000
About this Deal
|Middle-class workers will take a bigger hit to their income proportionately than those earning between $200,000 and $500,000 under the new fiscal cliff deal, according to the nonpartisan Tax Policy Center. |
Earners in the latter group will pay an average 1.3 percent more - or an additional $2,711 - in taxes this year, while workers making between $30,000 and $200,000 will see their paychecks shrink by as much as 1.7 percent - or up to $1,784 - the D.C.-based think tank reported.
Overall, nearly 80 percent of households will pay more money to the federal government as a result of the fiscal cliff deal.