The Truth ! Workers making $30,000 will take a bigger hit on their pay than those earning $500,000 under new fiscal deal

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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.

The economy needs a stimulus, but under the agreement, taxes will go up in 2013 relative to 2012 - not only on high-income households, as widely discussed, but also on every working man and woman in the country, via the end of the payroll tax cut,' said William G. Gale, co-director of the Tax Policy Center.

Read more: http://www.dailymail.co.uk/news/article-2256972/Middle-earners-hit-hardest-revealed-workers-making-30-000-bigger-hit-earning-500-000-new-fiscal-deal.html#ixzz2H7Rso7fE
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