Tax hikes: who’s affected?
By APThursday, September 16, 2010
Tax hikes: Who’s affected?
Tax cuts enacted in 2001 and 2003 are due to expire in January, unless Congress acts. Below are the tax increases people at different income levels would face if all the tax cuts expire, and under President Barack Obama’s plan.
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| Filing Status | Household | Income | All | cuts | expire | Obama | budget |
| Single, no children | 50,000 | 1,100 | 0 | ||||
| Married, 2 children | 50,000 | 2,900 | 0 | ||||
| Single, no children | 100,000 | 2,100 | 0 | ||||
| Married, 2 children | 100,000 | 4,500 | 0 | ||||
| Single, no children | 325,000 | 6,600 | 6,600 | ||||
| Married, 2 children | 325,000 | 7,400 | 5,400 | ||||
| Single, no children | 1,000,000 | 48,500 | 54,200 | ||||
| Married, 2 children | 1,000,000 | 53,200 | 56,300 | ||||
| Single, no children | 5,000,000 | 271,700 | 323,500 | ||||
| Married, 2 children | 5,000,000 | 276,400 | 325,600 |
Source: Deloitte Tax LLP.
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