How Will The Fiscal Cliff Impact You? - John Rothe | Portfolio Manager, Quant, Tech Geek, And Sometime Superhero To My Kids

How Will The Fiscal Cliff Impact You?

The Washington Post created a fiscal cliff calculator to show the impact various plans will have in different scenarios.

The bottom line is – if no plan is put in place, the majority of people will face a tax increase next year.

The no plan option will defiantly hurt the US economy. Remember the 2008 Economic Stimulus package that sent out checks:

  • Individuals up to $600.
  • Married couples up to $1,200.
  • Those with children $300 per dependent child.

 

Those amounts where to help the economy. Seems to me that a greater amount could be removed from the economy if we fall off the cliff….

 

You can input your data into the calculator to see how you may be impacted: Washington Post Fiscal Cliff Calculator 

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