2013 tax calculator

[rbmrtn]

I found this tool some might like to play with. It allows input of your info then compares three scenarios, Tax cuts expire, Rep. proposal, Dem. proposal.

Tax Foundation's Tax Policy Calculator

 

[Live And Learn]

thanks for that - nice tool !

 

[Mulligan]

Ouch! Tax the man hiding behind the tree, not me! The calculator says I would become $2,000 more patriotic, about 3% less to spend or save each month!

 

[pb4uski]

My 2013 taxes would be the same under Republican or Democratic proposals. Would be 24% higher if the tax cuts expire all else being equal. Ouch!!!

 

[rbmrtn]

Yea, we've all become addicted to the "temporary" cuts. I'm betting they leave the tax cuts in place for the lower brackets and just extend the upper. Least path of resistance.

 

[Mulligan]

Yea, we've all become addicted to the "temporary" cuts. I'm betting they leave the tax cuts in place for the lower brackets and just extend the upper. Least path of resistance.

Hey, I can agree with that. After all, it's not really picking on the upper class because they can just make less money if they want to avoid the tax.

 

[pb4uski]

Yeah, it is so easy to favor pushing tax burden to someone else. It still doesn't make it right.

 

[Mulligan]

Yeah, it is so easy to favor pushing tax burden to someone else. It still doesn't make it right.

Actually I agree with you, PB, I was just being flippant. In all seriousness, if worst case scenario occurred, I would be moved into 28% tax bracket. Add that in with SS tax (WEP smacks me good) reverting back to 6 plus %, Medicare, state income tax, and gas costs in traveling to my PT job it will be at 50%. I seriously doubt if I would continue working. I am not even a rich guy, and I would be demoralized, so I can only imagine what a real high earner would feel. Well, wait a second, I do know how they feel, as I just said I would quit working, so they would have the right to be upset too!

 

[JoeWras]

My 2013 taxes would be the same under Republican or Democratic proposals. Would be 24% higher if the tax cuts expire all else being equal. Ouch!!!

About the same for me too.

Well, wait a second, I do know how they feel, as I just said I would quit working, so they would have the right to be upset too!

It may be the tonic I need to solve or at least start to cure the "just one more year" problem I'm currently having.

 

[NYEXPAT]

Goose eggs as far as the eyes can see!

 

[scrabbler1]

Why did the standard deduction drop from $6,600 to $6,100 under the "all tax cuts expire?" Otherwise, not a huge change for me, I'd pay little more due to dividends taxed and the 10% bracket going up to 15%.

 

[rbmrtn]

Why did the standard deduction drop from $6,600 to $6,100 under the "all tax cuts expire?" Otherwise, not a huge change for me, I'd pay little more due to dividends taxed and the 10% bracket going up to 15%.

I didn't see that, it was 6100 on all.