As of January 1st, we're all standing on the edge of the fiscal cliff together.
What will it cost us?
According to the Congressional Budget Office, we'll be hit with tax increases and spending cuts that will send us back into recession and send the unemployment rate to nine point one percent.
What do the various cuts mean for your personal taxes?
The lower income levels will see a $400 to $1200 increase, middle class will see a $2,000 to $3,500 increase, and the upper crust is looking at a range from $14,000 all the way up to $120,000.