Fiscal Cliff Looms, Sacramento Family Shocked Over Potential Tax Increase
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SACRAMENTO (CBS13) – Few people have any idea just how many thousands each of us will pay in extra taxes.
Brad Allen and his family are bracing for the fiscal cliff impact.
“This is going to be tough,” said Allen.
They had no idea how much more they’d pay in taxes until CBS13 sat down with them. Allen and his wife bring in about $200,000 a year together. If we go over the fiscal cliff, they could be paying an extra $8,000 a year.
“My goodness, I thought it was going to be about $4,500. At the very most, I was guessing about five” said Allen.
A couple making much less, $80,000 combined, would pay an extra $3,000. A single person with a $50,000 salary would see more than $1,500 in higher taxes.
“It doesn’t appear they’re working very, very hard,” said Allen.
“I am embarrassed to be here in the district when Congress should be meeting around the clock,” said Rep. Tom McClintock said.
Republican U.S. Representative for California’s 4th Congressional District, McClintock is frustrated sitting on the sidelines as just a few legislative leaders negotiate with the president.
“Bad process makes bad policy. This government was never designed to operate with president and a couple of legislative leaders getting together and hammering out some sort of ‘grand bargain,’ ” he said.
The frustration is building, and the angst is beginning.
People like Allen are skeptical there will be a solution in time, even considering the amount of time legislators have had to reach a deal.
“The fiscal cliff, it’s not a surprise we just knew about for the last month. We’ve known about this a long time,” said Allen.