How Would the Fiscal Cliff Affect Your Tax Bill?
Ettore Sottsass, Summa 19 Electronic Printing Calculator, 1970. Manufactured by Ing. C. Olivetti & C. S.p.A., Italy. Photo courtesy of the Denver Art Museum.
As we all watch the folks in Washington wrangle over how to avert the fiscal cliff, here’s how to look at the potential impact on your taxes. On the broadcast Monday, Roberton Williams of the Tax Policy Center breaks down some of the tax breaks that are on the negotiating table.
Williams was also the chief designer of this calculator which helps you figure out how your tax bill will be affected under different policy scenarios. Since it was posted on the TPC’s site 10 days ago, over 80,000 people have run almost 200,000 scenarios.
This entry is cross-posted on the Making Sen$e page, where correspondent Paul Solman answers your economic and business questions.