If The US Jumps off the Fiscal Cliff: Here’s How Much More You’ll Be Paying
If the US jumps of the Fiscal Cliff we’ll all being paying more in taxes among other things. Keep reading to see how much more you’ll be paying.
Here’s how tax increases could impact households next year:
Annual income: $20,000 to $30,000.
Average tax increase: $1,064.
Annual income: $40,000 to $50,000.
Average tax increase: $1,729.
Annual income: $50,000 to $75,000.
Average tax increase: $2,399.
Annual income: $75,000 to $100,000.
Average tax increase: $3,688.
Annual income: $100,000 to $200,000.
Average tax increase: $6,662.
Annual income: $200,000 to $500,000.
Average tax increase: $14,643.
Annual income: $500,000 to $1 million.
Average tax increase: $38,969.
Annual income: More than $1 million.
Average tax increase: $254,637.