Oh the dreaded cliff is coming, only moments away, are you wondering how it will effect you if you live in the US, well the video below will go over the basic ins and outs, basically put everyone will now be taxed more to help pay for the massive costs of government that has been put off for so long. In a way now all will have to help pay what in reality a debt that has little to do with you really as well.
More to do with debts between governments and banks and debts from the past.
Well that is the way of world these days, print more money, extend debts and then charge the people to pay.
One good note however is that the rich people in the US will not be able to get around loopholes as easily no more, which allowed them in the past to pay pretty much no tax or very little.