From Yahoo
http://news.yahoo.com/winners-losers-fiscal-cliff-deal-231507391--politics.htmlWith the Bush tax cuts set to extend for individuals making less than $400,000, middle- and upper-middle class taxpayers can breathe a sigh of relief. 
When your boss has to pay more in taxes... you are less likely to get a raise. When the company you buy products from pays more in taxes... those products become more expensive. WE ALL LOSE WHEN TAXES GO UP.

This is exactly how the media tries to spend this stuff. Those of you making over $400K a year... Im sorry the fed govt is punishing you.
They did nothing to slow down spending in any way.