Here's a quick way to understand the battle over the fiscal cliff from MSNBC
- estimates suggest the 20% of households with the lowest incomes might see their taxes rise by $412.
- if you're in the middle 20% of income levels -- between $39,791 and $64,484 -- the average tax increase would be $1,984. If you're in the top 20% -- $108,267 or above -- the increase would be $14,173.
- if you're in the top 1% -- with income above $506,210 -- the average increase might be about $120,500.