Tuesday, July 14, 2009

Prediction: Power Couples Seek Divorce

Now that that it is common for women to be entering the executive ranks, the government wants to penalize them - if they are married to someone of the same stature. According to the WSJ:

The (health care tax) bill would place a 5.4% surtax on individuals and families with annual gross income exceeding $1 million. Individuals and families with annual income between $350,000 and $500,000 would face a 1% surtax, and those making between $500,000 and $1 million a year would be hit with a 1.5% surtax.

Those surtaxes for the last two categories would jump to 2% and 3% by 2013,

So if one individual makes $350K, they get socked, but if two married people each make $175K they get hit.

This doesn't count the other Obama tax increases and deduction limitations which hit individuals AND families starting at barely over $150K. Even two middle managers each making $80K will find it much cheaper to stay single than pay the ever increasing marriage penalty.

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