Taxes to rise for over 75% of households.

The fiscal-cliff deal increases taxes on household incomes of over $450K to 39.6%, as well as taxes on capital gains, dividends and inheritances. The hope is to raise $600B in new revenue over 10 years. The payroll tax cut is allowed to lapse, so the employee portion of the Social Security tax will return to 6.2% from 4.2%. All in all, overall taxes will increase for over 75% of households in 2013, says the Tax Policy Center.