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October 22, 2012

Interactive Spreadsheet: Your Taxes if the Bush Tax Cuts Expire

In a Common Sense Capitalism first, we are going interactive with our readers.  After extensive research, we've determined the impact of the Bush tax cuts expiring on Americans income.  We've created a spreadsheet reflecting single and married filers, along with Social Security changes (4.2% to 6.2%) and Medicare changes (.9% surtax on income over $200K, although the Medicare tax is Obamacare, not Bush tax cut related).  We've placed the tax bracket assumptions in two images below the interactive table.  Try more than just your income to see the effects on other working Americans.  How can the economy grow if taxes go up by this much?

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