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Calculator Shows How Expiration of Bush-Era Tax Cuts Would Affect Individual Taxpayers

Tax Foundation ^ | 7-30-2010 | Tax Foundation Staff

Posted on by Sen Jack S. Fogbound

The Tax Foundation has launched a "Bush tax cuts" calculator at www.MyTaxBurden.org, which allows taxpayers to compare their 2011 federal income tax liabilities under three scenarios: if all the Bush tax cuts expire completely at the end of this year, if they're all extended into 2011 or made permanent, and if President Obama's budget is adopted, which includes a combination of expirations and extensions.

Taxpayers can type in basic information-such as filing status, wage income and number of dependents-along with optional more detailed information-such as capital gains and dividend income, state and local taxes paid and other itemized deductions-and determine what their federal income tax burden would be in 2011.



TOPICS:

News/Current Events

KEYWORDS:

111th

bho44

bushtaxcuts

taxandspend

Click here Calculator Have fun!



To: Sen Jack S. Fogbound

My bad! Try this: www.MyTaxBurden.org



To: Sen Jack S. Fogbound

Mass Scofflaws! They couldn’t hire enough IRS thugs if everyone just stopped paying their taxes out of protest.



To: Sen Jack S. Fogbound

???? Income Tax if All Bush Tax Cuts Expire:

$22,300

Income Tax if Bush Tax Cuts are Extended:

$18,368

Income Tax under Obama’s Tax Proposals:

$13,068



To: Sen Jack S. Fogbound

by 5 posted onby ATOMIC_PUNK (Any man may make a mistake ; none but a fool will persist in it . { Latin proverb })

To: Sen Jack S. Fogbound

If you work, you are screwed. 1099 the gas station...



To: Sen Jack S. Fogbound

If Congress fails to act to extend the

Bush tax cuts, your income tax burden

will be $602 higher in 2011.



by 7 posted onby ATOMIC_PUNK (Any man may make a mistake ; none but a fool will persist in it . { Latin proverb })

To: Sen Jack S. Fogbound

Nice. Interesting. Good even. But largely beside the point. The real issue is how the expiration of GW’s “tax cuts for the wealthy” will push more small businesses (most of which are LLCs or S corps, which means taxed personally on business income) under. And that means MASSIVE job losses. Does 0 care? Dunno. Maybe someone should ask him between rounds of golf, vacations, and fluff talk shows. PS Of course I know. This is what the obamanation WANTS. It would be a crisis to exploit on his drive push to America into international socialism...



by 8 posted onby piytar (Those who never learned that peace and freedom are rare will be taught by reality.)

To: Sen Jack S. Fogbound

I get to pay $5,800 more.



by 9 posted onby Maelstorm (This country was not founded with the battle cry "give me liberty or give me a govt check!")

To: Sen Jack S. Fogbound





To: piytar

Does anyone know who this group is? It shows the least taxes owed under Obama’s plan.



by 11 posted onby passionfruit (When illegals become legal, even they won't do the work Americans won't do)

To: passionfruit

I noticed that. I’m wondering if I really want to input my financial information to a website that may be run by some leftist wacko.



To: piytar

drive push to America into international socialism... The media says SOCIALISM when in fact BLACK LIBERATION THEOLOGY that Obama is emersed in is simply COMMUNISM for blacks. Socialism is simply an intermediate step to COMMUNISM.



by 13 posted onby politicianslie (A taxpayer voting for Obama is like a chicken voting for Colonel Sanders)

To: Sen Jack S. Fogbound

I dont know about that caluclator but here is a link to the tax rates in 2000 which is what they will revert to if the Bush tax cuts are not renewed and the rates in 2010 you can toggle between the 2 years and see the difference. If the tax cuts expire my rate will go up 6% from 25% to 31%. Now this will not have deductions like that other calculator had but merely shows the tax bracket and rate. Notice to that the lower rates were reduced more than the upper income so that means lower end will see a bigger increase in rate as far a percentage of increase. So much for the tax cuts were only for the rich that was pure BS http://www.moneychimp.com/features/tax_brackets.htm



To: passionfruit

I for one know who this group is. It’s me and nost of my clients. If anyone believes the obamanation’s propaganda on the numbers on this, they’re retarded. (Appologies to Mrs. Palin.)



by 15 posted onby piytar (Those who never learned that peace and freedom are rare will be taught by reality.)

To: piytar

Sorry, “nost” should be “most.” PIMF



by 16 posted onby piytar (Those who never learned that peace and freedom are rare will be taught by reality.)

To: politicianslie

Um, Nazism was national socialsim. Comunism is interantional socialism. IOW, we’re saying the same thing with different words...



by 17 posted onby piytar (Those who never learned that peace and freedom are rare will be taught by reality.)

To: Sen Jack S. Fogbound

ping



by 18 posted onby SueRae (I can see November from my HOUSE!)

To: Sen Jack S. Fogbound

ping



by 19 posted onby SueRae (I can see November from my HOUSE!)

To: Sen Jack S. Fogbound

My taxes go up 50%, shows what jerk-off step-in-fetch-is.



by 20 posted onby Waco (From Seward to Sarah)

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