"Fiscal cliff" will cost average American $3,500, report says

"Fiscal cliff" will cost average American $3,500, report says
If Congress and the president let the U.S. fall off a "fiscal cliff" of tax increases at the end of the year, it will cost the average American $3,500, according to a report from the nonpartisan Tax Policy Center. Nearly 90% of Americans' taxes will go up after existing cuts and exemptions expire, the report says. Los Angeles Times/Politics Now bloghttp://www.latimes.com/news/politics/la-pn-fiscal-cliff-tax-spike-20121001,0,1937398.story