Yet another tax cut what-if calculator

I've got some personal errands to run this morning, so until I get back to blog more, I thought you might want to entertain yourselves with another tax calculator.

The Tax Policy Center's calculator lets us compare today's law, that's the 2001-2003 tax cuts still in place, against two alternatives to see how different taxpayers would make out:

1. If all the 2001-2003 tax cuts, aka Dubya's tax cuts, expire as scheduled on Jan. 1, 2011, or
   
2. If tax law changes proposed in Obama's 2011 budget are implemented, meaning the 2001-2003 tax cuts expire only for high-income taxpayers.
   

Like any good source discussing tax what-ifs, TPC emphasizes that its calculator is not tax preparation software; it leaves out lots of details necessary to complete a tax return.

But, says the website, it will give you a general idea of how the federal income tax affects real people.

Have fun crunching your possible tax numbers!

Related
posts:

• Your 2011 tax burden revised
• Your 2011 tax burden
• Obama tax reform panel report released
  
• Debunking 5 Bush tax cut myths
• Tax cuts or total tax reform?
• Is it time for tax reform?
• The ever-growing tax code
• 2010's expiring tax cuts likely to be dealt with
  by a lameduck
  Congress
• Today's taxes aren't too bad

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