It’s still great to be rich in America. Yes, taxes went up for those earning more than $400,000 a year, but it could have been a lot worse. And while 98% of Americans had their tax rates held steady, 77% of taxpayers will actually pay higher taxes due to the expiration of the payroll tax cut.
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This week on Your Bottom Line
Also, firearm sales and background checks for gun buyers continue to rise, even in the wake of the Sandy Hook tragedy. But gun deaths are becoming a health crisis in this country, costing nearly $42 billion a year, according to the CDC. Christine Romans digs into why this epidemic is not being addressed by policymakers from both an economic and medical point of view.
Plus, the more arcane and wonky the budget mess gets, the more Washington reaches to explain it. Christine Romans reports on the metaphor mania that has swept the nation’s capitol and airwaves during the fiscal cliff standoff.
Find out more from Christine Romans on Your Bottom Line, Saturday at 930a EST.