Effect of looming 'fiscal cliff' tax increases

December 24, 2012 @ 1:00 am

(AP) - A big package of tax cuts first enacted a decade ago are set to expire at the end the year, unless Congress and the White House reach a deal to extend them. How the looming tax increases would affect households at different income levels.

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Annual income: $20,000 to $30,000.

Average tax increase: $1,064.

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Annual income: $40,000 to $50,000.

Average tax increase: $1,729.

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Annual income: $50,000 to $75,000.

Average tax increase: $2,399.

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Annual income: $75,000 to $100,000.

Average tax increase: $3,688.

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Annual income: $100,000 to $200,000.

Average tax increase: $6,662.

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Annual income: $200,000 to $500,000.

Average tax increase: $14,643.

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Annual income: $500,000 to $1 million.

Average tax increase: $38,969.

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Annual income: More than $1 million.

Average tax increase: $254,637.

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Source: Tax Policy Center


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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Comments (7)


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  • SickofSeattleite wrote...
    good job libs and dems
    December 22, 2012 7:47 am
    i needed to pay more taxes....now i will have to get ebt to buy food.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • maplefish wrote...
    This could not have worked out any better
    December 22, 2012 3:51 pm
    For Obama. He's in Hawaii right now laughing his assssss off at all the idiots that bought into his hope & change & forward BS. These taxes don't include the other largest tax on the middle class.....Obama care. Hang onto your wallets America, they're about to get a lot smaller. We get the government we deserve....
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • CH wrote...
    good job libs and dems? . . . .
    December 22, 2012 4:09 pm
    look at the ball its in Boner's court. And you bought into protecting the rich?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • blood brother wrote...
    The Ball is in Boehner's court?
    December 22, 2012 5:42 pm
    How many votes has Obama ever gotten on his proposed budgets? 0-99 He has no solutions.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • longwayhome wrote...
    boner is the loser
    December 22, 2012 7:30 pm
    Obama has given him all the chances he's going to get. If our economy falls over backwards, it's the republicans fault, boner knows it and is at the golf course bar right now drawing plans with his swizzlestick in his coaster on how he's going to fix everything.....next week......maybe.......
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Rangerhawk wrote...
    There not called the Clinton or Obama Tax cuts for a reason
    December 22, 2012 9:10 pm
    And they weren't permanent, so stop whining, have some cold TEA, open your wallet, and consider with newfound wisdom just where it's going compared to where it's not anymore.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Rangerhawk wrote...
    Limousine Liberals think this is hilarious!
    December 22, 2012 9:22 pm
    Because unlike the idiot ones who post here, they have the "extra" clams to spare. (Just think of it as a belated campaign contribution)
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }