September 17, 2010 10:03 AM | Permalink |
With both the Bush tax cuts and President Obama’s expansions of certain parts of those cuts set to expire at the end of 2010, the decisions Congress makes in the coming weeks will have very different effects on taxpayers at different income levels, according to a new report from Citizens for Tax Justice. The report shows that low- and middle-income taxpayers will pay higher taxes under the Republican approach than under President Obama’s approach. It also shows that the richest taxpayers will pay far less under the Republican approach than under President Obama’s approach.
Read the report and state-by-state fact sheets.