With three days to go and without a deal in place in Washington, what it means for you?
If an agreement isn’t reached by January 1, most of us will be paying anywhere between $2,000 and $4,000 more in tax increases.
That means we will see our 2013 paychecks shrink by about two-percent. Payroll taxes will increase by two-percent.
So if you earn $25,000 a year, your taxes will increase by $42 more a month.
Those earning $45,000 a year will pay $75 more a month.
And if you earn $65,000 a year, expect to pay $108 more each month.
Along with the tax increases, there will also be automatic cuts in government expenses across the board.
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