by Nick Kasprak
July 17, 2012
President Obama’s proposal to let the Bush tax cuts expire for married taxpayers making over $250,000 and single taxpayers making over $200,000 sounds simple enough. If you make less than those amounts, nothing changes; if you make more, you pay the old Clinton-era tax rates. Right? As with anything related to the federal income tax code, things are much more complicated than they seem. This analysis includes the tax brackets under the Bush tax cuts, current policy and President Obama’s proposal of the $250,000 threshold.