What great bill was ever passed in the last 75 years that actually helped the American people? The Cliff Deal only raised taxes on the wealthy that were making over $400,000 a year. It was supposed to be $250,000, but once again, the rich Congressmen and lobbyist in America went to bat for 'themselves' once again, abused power and got it raised. It also was a really great way for big government to cover up the other tax hike, which is going to hit all average Americans. Yes, all the normal people are going to be paying higher rates too. No flat tax, a good majority of Americans (the working class) still lose.
The fiscal cliff is a huge deal. It is sad to see that the American people have to suffer so much because of wasteful spending and lack of regulations by government and private investors that caused the issues. Most Americans have no say in the issues that caused the fiscal cliff, but nonetheless take the biggest hit because of it.
Anything that happens in America will soon spread and affect every single country that has business with the USA. If in the short period Americans will feel the most the effects of the deal, it won't take long in this global economy for other countries to get the domino effects in terms of stock market losses, lower import/export, etc.
Tax rates may be going up. Unfortunately, taxes are a part of life and to avoid major financial catastrophe, this is what we need to do. Personally, I think that if a flat tax rate was instituted instead of tax breaks for the wealthiest, this whole mess would have been avoided.