How Will Your Taxes Change?

What's Hot


The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

How a Mexican Tariff Will Boost the Cost of 6 Common PurchasesFamily

This Free Software Brings Old Laptops Back to LifeMore

How to Protect Yourself From the ‘Can You Hear Me?’ Phone ScamFamily

Report: Walmart to Begin Selling CarsCars

Where to Sell Your Stuff for Top DollarAround The House

Is Your TV Tracking You? Here’s How to Tell — and Prevent ItAround The House

11 Staging Tips to Help You Get Top Dollar When Selling Your HomeAround The House

21 Restaurants Offering Free Food Right NowSaving Money

20 Simple Hacks to Make Your Stuff Last LongerAround The House

4 Car Insurers That Might Raise Rates Even When the Accident Wasn’t Your FaultCars

How to Invest If Trump Kills the ‘Fiduciary Rule’Grow

12 Surprising Ways to Wreck Your Credit ScoreBorrow

9 Secret Ways to Use Toothpaste That Will Make You SmileAround The House

The 2 Types of Music That Most Improve Dog BehaviorFamily

CNN broke down how tax rates might change depending on who gets elected.

Ben Franklin wrote the only certainties in life are death and taxes. And perhaps taxes are just death by a thousand cuts – but those cuts keep changing.

CNN has a good breakdown of how taxes might change this election, based on proposals from presidential contenders Barack Obama and Mitt Romney. Here’s a sample…

Individual income tax rates: They are currently 10%, 15%, 25%, 33%, and 35%. Those rates are scheduled to expire at the end of the year and higher rates will take their place. The increases would affect those who report wage and business income on individual returns.

Obama: Would make those Bush-era tax rates permanent for everyone except those making more than $200,000 ($250,000 if married). For those high-income households, Obama would preserve the Bush tax rates at the low end (10%, 15% and 25%) but raise the top two rates to 36% and 39.6%.

Romney: Would reduce each of the Bush-era income tax rates by 20%. So the top rate would fall to 28% and the bottom rate would fall to 8%.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 21 Restaurants Offering Free Food Right Now

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,801 more deals!