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  • Fiscal Clif Infographic

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    james_valvo
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    The document discusses the "fiscal cliff" facing the US in 2013, which would result in a $495 billion tax hike. This would be the result of expiring tax cuts totaling $166 billion, payroll tax cuts of $125 billion expiring, and $23 billion in new Obamacare taxes. It notes declining labor force participation, increasing national debt, and projections of slowing GDP growth in 2013 if the fiscal cliff is not addressed.

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    The document discusses the "fiscal cliff" facing the US in 2013, which would result in a $495 billion tax hike. This would be the result of expiring tax cuts totaling $166 billion, payroll tax cuts of $125 billion expiring, and $23 billion in new Obamacare taxes. It notes declining labor force participation, increasing national debt, and projections of slowing GDP growth in 2013 if the fiscal cliff is not addressed.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    15 views1 page

    Fiscal Clif Infographic

    Uploaded by

    james_valvo
    The document discusses the "fiscal cliff" facing the US in 2013, which would result in a $495 billion tax hike. This would be the result of expiring tax cuts totaling $166 billion, payroll tax cuts of $125 billion expiring, and $23 billion in new Obamacare taxes. It notes declining labor force participation, increasing national debt, and projections of slowing GDP growth in 2013 if the fiscal cliff is not addressed.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    of 1

    FALLING OFF THE FISCAL CLIFF

    In 2013, the nation faces a

    $495 BILLION
    AMT PATCH - $119B OTHER - $62B OBAMACARE TAX HIKES - $23B

    TAX HIKE.

    LABOR FORCE PARTICIPATION RATE

    EXPIRING TAX CUTS - $166B PAYROLL TAX CUT - $125B at 63.8%, down from 66%, and the

    LOWEST RATE SINCE 1983

    DEATH TAX
    CURRENT: 8,600 families pay 35% tax rate with a $5 million exemption

    FUTURE: 115,000 families will face a 55% rate with only a $1 million exemption

    NATIONAL DEBT
    18 16 14 12 10 8 6 4 2 0

    GDP GROWTH (2007-2013)


    4.00% 3.00% 2.00% 1.00% 0.00% -1.00% -2.00% -3.00% -4.00% 2007 2008 2009 2010 2011 2012* 2013**
    scenario

    PREDICTED IN JAN./FEB. of 2013

    SOURCE: WORLD BANK *Through rst 2 quarters | **Projected under scal cli

    To learn more, go to

    americansforprosperity.org

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