Image from Mother Jones magazine
The New York Times reports the Senate-approved plan to avoid the budget abyss will mean less than 1 percent of Americans will pay higher income taxes next year. Those are people who make at least a half-million dollars a year.
Don't forget, though, that payroll taxes for Social Security are going to increase next year to the level they were at three years ago — from 4.2 percent in 2012 back to 6.2 percent. At FOXNews, Bamini Chakraborty reports, "For households earning $50,000, they will have to pay $1,000 more in taxes in 2013."
So, the money the government won't take out of your wallet in financial canyon-related taxes will be taken from your wallet anyway. It's the difference between getting whupped with a 2-by-4 upside the head once, as opposed to getting whupped once. There's still a world of hurt goin' on.