August 24, 2012
The U.S. faces the prospect of a new recession and millions of lost jobs unless lawmakers act to stop the $494 billion Taxmageddon tax increases coming January 1, a Heritage Foundation expert warns.
“1.6 million more Americans will be out of work—on top of the 12.8 million who already want to work but can’t find jobs,” Heritage economist J.D. Foster explains, citing new government projections.
This chart makes clear the cost of Congressional inaction:
Do you think Congress and President Obama will act in time to stop Taxmageddon from going into effect on January 1?