How tax increases will affect households

January 2, 2013 @ 12:12 am

(AP) - The tax package passed by Congress will prevent one set of tax increases from hitting the vast majority of Americans, but it won't stop them all. A temporary Social Security payroll tax reduction is expiring, hitting nearly every wage earner, and income taxes on the wealthy are going up too.

How the tax increases will affect households at different income levels:

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

Average tax increase: $297

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Annual income: $30,000 to $40,000

Average tax increase: $445

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

Average tax increase: $579

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

Average tax increase: $822

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

Average tax increase: $1,206

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

Average tax increase: $1,784

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

Average tax increase: $2,711

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Annual income: $500,000 to $1 million

Average tax increase: $14,812

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Annual income: More than $1 million

Average tax increase: $170,341

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Source: Tax Policy Center


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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Comments (5)


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  • It's me! Ha ha! wrote...
    The Dear Leader will be taking even more of OUR tax paying money
    January 2, 2013 5:22 am
    to pay for welfare and Illegals and the 47 percent who did what you were supposed to do and give him FOUR MORE YEARS!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • It's me! Ha ha! wrote...
    Left wing Parrots,
    January 2, 2013 5:25 am
    How much more will your Dear Leader steal from us and how much will it pay down the ObamaDebt?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Fuego wrote...
    If you have a job
    January 2, 2013 5:40 am
    Your taxes are going up and if you don't have.a job you're probably not going to find one.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • SickofSeattleite wrote...
    does not include
    January 2, 2013 5:44 am
    obamacare...they will take that out of your tax return if you can not prove you have insurance.... so basically.....the money my family depends on once a year for emergency expenses....will no longer be their thanks to the Obama administration. What do i do now? My hours have already been cut in half...... we are not taking any govt hand outs at this time. We are not the people causing the problem.....our country is no longer working right because of how big Govt has grown and controlled every aspect of our lives. The only thing i have seen grow in the last 4 years is Americas debt and food stamp recipients. America is supposed to be the greatest strongest country in the world....Now it looks like China is...they own us financially. What do we do when we run out of country's to borrow from? Why is the administration not worried about the massive deficit? Think about it people!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • CH wrote...
    Check this out . . . .
    January 2, 2013 9:24 pm
    King Obama will be taking even more of OUR tax paying money. Fire Fighter Just where the-hell do you think your pay check comes from? Wrong answer not the GOP. We Americans pay you to play with your hose.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }