CCH has released its 2013 Fiscal Cliff Estimator, where you can see what the Federal income taxes will be under three of the options being discussed.  I can’t vouch for the precise accuracy of all the calculations.  However, based on all of the footnotes, it does appear that they have put some time and effort into these calculators.

I’m not sure that I would use this for actual tax planing purposes, but it does help give a flavor for how much money is at stake as our rulers in DC enjoy their taxpayer funded vacations.

For example, I entered MFJ with $150,000 of Taxable Income, $10,000 of LTCG and $500 of Dividends and it gave the following results for total Federal income tax.

Current 2012 Tax Rates:  $31,354.00   

Full Extension of Bush-Era Tax Cuts (Republican Plan): $31,040.50

Presidential and Senate Democratic Proposal:  $29,465.50

Expiration of the Bush-Era Tax Cuts (If Congress Does Not Act): $36,391.50

Despite Tax Increase, California State Revenues in Freefall –  It’s actually because of the tax rate  increase.  This is only a surprise to the morons in charge in Sacramento.  Anyone with any common sense and knowledge of recent history knows that lower tax rates encourage more taxable activities and thus more tax revenues.  Higher tax rates have the exact opposite effect, plus they force people to leave the state altogether.  This gives Governor MoonBeam 13% of nothing instead of 9% of billions.

New York Times Admits Reaganomics Worked –  The truth does occasionally slip out from the DemonRat media.