Smart infographic: What is the "fiscal cliff?"

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Without action, the Fiscal Cliff will result in higher taxes for 90% of Americans and $775 higher tax bill for middle income Americans. Turn on your TV and you will hear democrats and republicans blaming each other and this makes it hard for average folks to know how did we get here, why is this happening, what are our options and how will this affect me?

This smart infographic from answers many of these questions:

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including,,, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.