77 Percent Will Pay More Taxes in 2013 Under Fiscal Cliff Deal
The main reason is the elimination of the payroll tax.
Despite the House and Senate reaching a Fiscal Cliff deal, 77 percent of Americans will pay more in taxes in 2013. That's because even though just 1 percent of households will pay higher income taxes, an increase in federal payroll taxes will hit nearly every wage earner, according to analysis by the Tax Policy Center. Individuals who earn between $40,000 and $50,000 a year face an average tax increase of $579 in 2013, according to the Tax Policy Center's analysis. The average U.S. worker would pay $679 more in taxes this year under the fiscal cliff deal passed by the Senate early Tuesday morning, while the average member of the top 1 percent of earners would pay $73,633 more, according to Tax Policy Center analysis. The increases are …
John
9:57 pm on Tuesday, January 8, 2013
Google owns this web site. Maybe there running out of money to hire people to monitor this site?! LOL..,,,.... Or maybe the monitor likes to see people make fools of them self?!...,,,, I'm sure there's alot of people who don't give there opinion because of all the fowl comments on here?! ...,,,,... It's like a teenagers chatroom! more ›