We narrowly avoided plunging over the fiscal cliff, but don't pop any champagne bottles yet. Though analysts generally agree that what we got is better than no deal, the plan we got is full of holes. Here's a rundown of what the deal does and does not do:
- Tax increases: Top earners get hit hardest, but the Tax Policy Center estimates that a full 77.1% of US households will see some sort of increase in their annual tax bill. Taxes among 80% of households making between $50,000 and $200,000 will spike an average of $1,635 per year, reports Bloomberg.