Read More »"/> Read More »"/>
Timely Political Calculations:
Assuming that President Obama continues his policy of not negotiating in good faith with U.S. congressional leaders on federal budget matters, what might your paycheck look like in 2013 after President Bush’s 2003 income tax rate cuts expire?
That matters to you because if you earn either wages or a salary from a job, your income taxes will increase. And with that increase, so will the amount of taxes that you have withheld from each of your paychecks also go up.
You can find out by how much using this tool.
And for extra fun, multiply your results by the number of paychecks you get per year to see how much extra you’ll have pulled out of your paycheck over the entire year!
Source: U.S. Geological Survey, Hawaii Volcano Observatory