The Romney-Ryan budget explained: tax reform
- Created Aug 15, 2012
If partisan media spin has you wondering what's really in the Romney-Ryan budget and how it may affect you, you're not alone.
Below is a simple break down that provides the facts, and only the facts.
Romney-Ryan tax reform will affect all income levels as follows:
People earning between $50,000 and $100,000 would see their taxes go up by about $1,358 per year.
Incomes between $100,000 and $200,000 would pay an additional $2,681 a year in income taxes.
Those with incomes above $1 million would get a tax cut of approximately $300,000.
Income from dividends, capital gains, and interest, will not be taxed at all.
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