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

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

[FarmerW]

mine go up by 12k.

[NTHockey]

???? Doubled
Income Tax if All Bush Tax Cuts Expire:
$16 refund
Income Tax if Bush Tax Cuts are Extended:
$260 refund
Income Tax under Obama’s Tax Proposals:
$1199 refund

Problem with calculator is that only under 0bambi’s plan do you get a Making Work Pay and Earned Income credits. Both are currently available with Bush tax cuts. The results are biased towards 0bambi’s plan.

[Paratrooper]

ping

[lakeman]

If Congress fails to act to extend the
Bush tax cuts, your income tax burden
will be $4,047 higher in 2011.