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And despite the last minute deal in the fiscal but many Americans will still see increases in their taxes in the new year no matter what your income level is Peter burns joins us now.
With the breakdown of the DL Peter.
Finalists a bunch of new taxes are hitting taxpayers starting this year including from this week's tax bill the big change.
This week was the restoration of the top marginal tax rate of 39 point 6% from the Clinton -- for individuals making more than 400000 a year families making more than 450.
Those taxpayers also will see the rates on their capital gains and dividends rise to 20% from 15%.
And related to this week's tax legislation.
Is -- new a new tax under president Obama's Health Care Reform law that a three point 8%.
Medicare surcharge on investment income for individuals making more than 200000 a year families making more than 250 K.
But the tax increase that will hit almost all taxpayers lower income.
As well as upper income.
Is the expiration of the payroll tax cut from the last two years and that is the main thing that is increasing taxes for households earning a 100000.
To 200000 here that's that income bracket were looking at at this hour according to the Tax Policy Center.
They will go up on average by about 18100.
Dollars a year as Social Security withholding rises to back up to six point 2% this year from four point 2% the last couple of years Melissa.
-- Peter Brian thank you so much.
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