July 10, 2012 01:41 PM | Permalink |
Citizens for Tax Justice has created an online calculator that will tell you what you’re likely to pay in income taxes and payroll taxes under three different scenarios:
1. Congress extends all the Bush tax income tax cuts as Congressional Republicans propose,
2. Congress extends most, but not all, of the income tax cuts as President Obama proposes, or
3. Congress simply allows all the tax cuts to expire.
The online calculator also tells you what income percentile you fall into and how much of the tax cuts in a given scenario will go to people in higher percentiles than you (people richer than you).
Use the Online Calculator
If you are an employee, your income comes entirely from your wages or salary, and you take the standard deduction, click here to calculate your likely taxes in 2013 under the three different scenarios.
If you have other types of income or if your situation is more complicated, click here to calculate your likely taxes in 2013 under the three different scenarios.
Front Page Photo of Calculator via 401(K) 2012 Creative Commons Attribution License 2.0