Paychecks Will Take a Hit

There will be huge hits for all American paychecks in January if the pre-Bush tax cut rates go into effect. Here’s what we’re looking at: An income of $40,000 a year with no kids would pay an extra $95 a month; with two kids $165 a month. For $80,000 a year earners they would pay $145 a month (no kids); with two kids $180. At $100,000 the rate would be $270; with two kids $335. Numbers from the Wall Street Journal/Tax Policy Center.

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