A Massive Tax Hike Could Be in Your Future

Get ready to pay more in taxes, that is, if we fall off the so-called fiscal cliff (and perhaps even if we don’t). An analysis by the nonpartisan Tax Policy Center says most households can expect an unprecedented tax increase next year – an average $3,500 per household – if every tax cut enacted by Congress since 2001 does, in fact, expire. Middle-income households (those earning between $39,790 and $64,484) would pay an average tax increase of $2,000. Lower income …