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A married couple earning $50,000 to $80,000 with two children would see a tax increase of $2,200, the paper said. A childless couple making $200,000, including $20,000 of capital gains income, would see their tax bill grow by $5,540. The report did not include a figure showing the average tax increases that wealthier earners would face, but they would be substantially higher. It included one example for a couple making $2 million in salaries and bonuses plus $500,000 from capital gains. They would get $7,080 in tax cuts under Obama's plan, which allows a tax cut to all families for the first $250,000, and $124,000 under GOP proposals, the report said. The partisan conflict will intensify this week when the Senate votes on a Democratic plan that denies tax cuts to higher earners, and perhaps on a GOP proposal extending tax cuts for all. Both are certain to fail.
[Associated
Press;
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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