Under the Democrat's plan, "High-income households would see their top two income tax rates increase to 36% and 39.6%, from 33% and 35% today. Their ability to benefit from certain tax breaks would be limited. And their tax rates on capital gains and dividends would increase to 20% from 15% now."
Senate Republicans, meanwhile, have proposed a full one-year extension of the Bush tax cuts, including the lower rates on investment income. They do not, however, continue the 2009 expansion of the low- and middle-income tax breaks included in the Democratic plan.
Republicans would extend the current estate tax, which allows for a $5 million exemption level and imposes a top rate of 35%."
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Bottom line under GOP plan: Under the Republican proposal, 15.4% of households would see tax increases, but the increases would primarily hit people making under $80,000, according to a new analysis from the independent Tax Policy Center.
Drilling down, 20% of households making less than $48,000 would see average tax increases as high as $958.
Another 14% in the middle of the income scale (roughly between $48,000 and $80,000) would pay an average of $783 more than they do today.
At the very high end of the income scale -- at least $600,000 -- less than 0.05% would see a tax increase.
Bottom line under Democratic plan: The breakdown gets more complicated for the Democrats' proposal because it doesn't include protection from the AMT for 2013, even though the going assumption is that Democrats would eventually back such a patch.
The AMT is supposed to hit wealthy filers, but without a patch it would hit tens of millions of non-wealthy households. That's why Congress regularly passes one on a bipartisan basis."
Bush tax cuts: What you'd pay under rival plans - Jul. 25, 2012