A big package of tax cuts first enacted a decade ago are set to expire at the end the year, unless Congress and the White House reach a deal to extend them. How the looming tax increases would affect households at different income levels. ___ Annual income: $20,000 to $30,000. Average tax increase: $1,064. ___ Annual income: $30,000 to $40,000. Average tax increase: $1,417. ___ Annual income: $40,000 to $50,000. Average tax increase: $1,729. ___ Annual income: $50,000 to $75,000. Average tax increase: $2,399. ___ Annual income: $75,000 to $100,000. Average tax increase: $3,688. ___ Annual income: $100,000 to $200,000. Continued... |