Fiscal deal will cost you: 8 tax changes
Here are eight tax changes under the 'fiscal cliff' deal that may hit your pocketbook.
4. Taxes rise on stock returns for the wealthy
The tax rate on dividends and capital gains above $400,000 ($450,000 for families) would rise from 15 percent to 20 percent. This would hit the wealthiest Americans, who tend to earn more from their capital investments than from wages and salaries – and raise only a few billion dollars in tax revenue in 2013. When analyzing a similar provision for a broader set of Americans – those with dividends and capital gains above $200,000 ($250,000) – the Tax Policy Center estimated it would bring in only $8 billion.
That's not all: Courtesy of the 2010 health-care law, high-income taxpayers will be charged a new 3.8 percent tax on their investment income.