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Fiscal cliff deal brings bad news for self-employed middle class

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US President Barack Obama speaks during an event with middle class Americans who would see their taxes go up if Congress fails to act to extend the middle class tax cuts, in the South Court Auditorium of the Eisenhower Executive Office Building next to the White House in Washington, DC, on November 28, 2012. Credit: AFP/Getty Images

While being your own boss might seem like a dream come true, being self-employed these days is a serious tax nightmare. In 2010, the self-employed of the middle class were saddled with a 40.3% income tax rate. But following last night's fiscal cliff debacle, the tax burden will now be even higher.

Why do the self-employed pay so much more in taxes? For starters, self-employed people have to pay double the FICA and Medicare expenses as other workers because payroll taxes typically paid by employers are swallowed by the self-employed.

With last night's so-called "deal," the self-employed middle class can expect an even higher tax burden in 2013. CNN contributor and former White House press secretary Ari Fleischer is tweeting out the warnings this morning:

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