Here’s the only thing that most Americans care about: How much are your taxes going up or down.
The Tax Policy centre has put out this table, showing how much your taxes will go down, relative to the baseline (meaning if Congress had done nothing and let the full cliff hit.
We’ve highlighted the key table, which shows how much lower your Federal Tax Bill will be, relative to the baseline, presuming the House passes the Senate bill.
The column under Average Federal Tax Changes shows the exact dollar amount that you’ll pay less in 2013, than if the bill hadn’t gone through, broken down by each income bracket.
And yes, we know some will object to calling what was done a “tax cut” since for most people rates just stay the same, etc., but we’re not trying to make a political point, just pointing out the difference between what you will pay and what you would have paid.
Photo: Tax Policy centre
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