For example, if higher taxes kicked in, workers might get less money in their first few paychecks of the year, and then the government might reach a compromise and refund the money."The fiscal cliff is not really a cliff â¿¿ it's more like a $600 billion hill that will accrue over the year," Carmack says, referring to the amount of money that could be taken out of the economy from higher taxes and lower spending.
'Fiscal Cliff': Armageddon Or Just 'eh'?
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