I Told You So Alert: Sandy-Ravaged New Jersey Families Face $6,933 Tax Hike

(CNSNews.com) – Families in Hurricane Sandy-ravaged New Jersey will face the highest tax increase as a percentage of their income – 6.82%  or about $6,933 more in taxes — if Congress does not reach an agreement on the fiscal cliff tax issues during the lame-duck session, according to an analysis by the Tax Foundation.

In its study of how the fiscal cliff would affect typical families in each state, the Tax Foundation reports that if the numerous tax provisions that are due to expire on Dec. 31 are not changed, a four-person family in New Jersey with a median income of $101,682 will see its taxes go up at a rate 6.82 percent of its income, which translates into about $6,933.

The tax issues in question are the expiration of the Bush tax rates, which also include the elimination of the 10 percent tax bracket and the reduced deduction for married filers; ending the 2 percent cut to employee-side Social Security taxes; and the Alternative Minimum Tax.

Maryland was ranked second by the Tax Foundation because a four-person family there, with a median income of $106,707, would see its taxes go up 6.74 percent as a percentage of income, or about $7,194.

Connecticut, ranked third, would see taxes for a family of four go up by 6.62 percent, or $6,653.

All five states with the top tax increases are “blue states,” which President Obama won in the 2012 presidential election. But so are four out of the bottom five states with the exception of Kansas.

Top Five Tax Increases Tax Increases as % of Income
#1 – New Jersey $6,933                                6.82%
#2 – Maryland    $7,194                                 6.74%
#3 – Connecticut $6,653                                6.62%
#4 – Massachusetts $6,632                           6.53%
#5 – New Hampshire $5,660                          5.81%

http://cnsnews.com/news/article/sandy-ravaged-new-jersey-families-face-6933-tax-hike-fiscal-cliff-stalemate

  • MATTHEW

    WHOA! LOOKS LIKE OBAMA BROUGHT HOPE & TAXES! WHOA!

  • Abby

    What a disgrace!

  • Nadine

    Everyone was warned..You can also blame the MSM for not telling people the truth…this will have consequenses!

  • gypsy314

    Blue states are bankrupt and all I say to red states watch out. Obama and democrats will try and bail out the blue states to allow them to keep there spending up. I say hell no and let them sink.

  • http://www.facebook.com/barbjeanpatton Barb Patton

    All the people that voted in the fake latte one and drooled at the mouth listening to his lies — LET THEM FEEL – if people do not want to listen then let them feel the weight of the punishment and hell that the latte one has given them as a big thankyou for voting him in for a second term….

The latest from ClashDaily.com