Hahah, I posted this thread and it got rated down to sub-default by the time my page refreshed. Seriously.
Too funny.
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The reality of the situation is I'm about to get boned however.
2000 Pre-Bush Tax Cut Rates
AGI $150,000 Married Filing Jointly
$23,965.50 + ((31% x ($150,000 - $105,950)) = $37,621.00 tax
AGI $250,000 Married Filing Jointly
$41,170.50 + ((36% x ($250,000 - $161,450)) = $73,048.50 tax
AGI $350,000 Married Filing Jointly
$86,854.50 + ((39.6% x ($350,000 - $288,350)) = $111,267.90 tax
AGI $450,000 Married Filing Jointly
$86,854.50 + ((39.6% x ($450,000 - $288,350)) = $150,867.90 tax
2007 Post-Bush Tax Cut Rates
AGI $150,000 Married Filing Jointly
$24,972.50 + ((28% x ($150,000 - $128,500)) = $30,992.50 tax
AGI $250,000 Married Filing Jointly
$43,830.50 + ((33% x ($250,000 - $195,850)) = $61,700.00 tax
AGI $350,000 Married Filing Jointly
$94,601.00 + ((35% x ($350,000 - $349,700)) = $94,706.00 tax
AGI $350,000 Married Filing Jointly
$94,601.00 + ((35% x ($450,000 - $349,700)) = $129,706.00 tax
Difference in Tax Due Between Pre-Bush Tax Rates and Post-Bush Tax Rates
$150,000 AGI Increase: $6,628.50
$250,000 AGI Increase: $11,348.50
$350,000 AGI Increase: $16,561.90
$450,000 AGI Increase: $21,161.90
If the tax break expires my taxes will rise considerably-- not that I expect you guys to particularly care...
Totem