What's being described as a fiscal cliff, the automatic expiration of a host of federal tax cuts, looks more like a deep fiscal hole for the taxpayers of some states. The Tax Foundation has estimated the average household impact of higher taxes in each state if Congress and the President fail to reach some type of a budget deal before the end of the year. Listed below are the states where taxpayers would pay the most, and their average tax bill. While some commentators say that a fall off the fiscal cliff is unlikely because a deal will be made, the President is demanding significant tax increases as part of any budget compromise. Since many of the states listed below have among the highest average household incomes in the country, they are still likely to be the biggest losers even in any budget deal that raises taxes but avoids the full fiscal cliff.
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