'Your papers, please' must never be heard in America
Maryland taxpayers would be hit with the largest federal income-tax increase in the country if Congress fails to pass legislation to avert the looming "fiscal cliff," and the average U.S. family of four would pay an extra $3,200, according to a study by the nonpartisan Tax Foundation.
Congress packed its bags and left town last week without resolving the "fiscal cliff." As things stand, the George W. Bush tax rates will expire Jan. 1, leaving us all liable for sending trillions more to Uncle Sam each year.
Jason Fichtner, a senior research fellow for George Mason University's Mercatus Center, said larger federal tax bills would result all around, and it would be only the beginning for many people.
"Right now, in the Beltway, we're paying attention. People on the outside are paying a little attention, but I still don't think they know what it means," he said. "But people are going to wake up on Jan. 15 and Jan. 16, and they'll know when they see their paychecks."
