The video from MarketWatch mostly discusses tax increase on the wealthy and businesses. But according to Reuters, The Obama administration’s plan to cut more than $1 trillion from the deficit over the next decade relies heavily on so-called backdoor tax increases that will result in a bigger tax bill for middle-class families.

If the provisions are allowed to expire on December 31, the 25 percent tax bracket will increase to 28 percent, the 28 percent bracket will increase to 31 percent, the 33 percent bracket will increase to 36 percent, the 35 percent will increase to 39.6 percent. The special 10 percent bracket is eliminated.