Want to see how much your taxes will go up if the Bush tax cuts expire?

An article titled “Not So Golden Years: Rise in Capital Gains and Dividends Tax Would Hit Seniors Hard” at the top of this page has a box you can type in your income after deductions to see how much your tax burden is now (the “tax cuts are extended” button) and how much your tax burden will be if the Bush tax cuts are not extended (the “tax cuts are expired” button)

Some quick calculations…

  • A household with a $30,000 income will go from a $4,716 tax burden to a $5,435 tax burden ($719 increase or 14%)
  • A household with a $50,000 income will go from a $11,261 tax burden to a $12,441 tax burden ($1,180 increase or 10%)
  • A household with a $75,000 income will go from a $17,266 tax burden to a $19,202 tax burden ($1,936 increase or 11%)
  • A household with a $100,000 income will go from a $31,922 tax burden to a $35,732 tax burden ($3,810 increase or 11%)

Not. Good. News.