Actually taxes will raise from 10% to 17% when you add in the Social Security Income tax increase back from 4.2% to 6.2% again. So for the lowest tax bracket that is a 70% tax increase.
If you are going to include the SS increase in one spot then you have to include it in both. So the current 10+4.2 goes to 15+6.2, or 14.2 goes to 21.2 which is a 49% increase.
8 posted on 05/11/2012 1:54:23 PM PDT by Kellis91789
(The ultimate result of shielding men from the effects of folly is to fill the world with fools.)