Tax-cut plan is uncertain; many anticipate increases

08/22/2010 | Wall Street Journal, The

Regardless of what happens to George W. Bush's tax cuts as a result of a new plan, many taxpayers in higher income brackets are bracing for tax hikes. If Congress cannot reach a decision on a new plan, taxes will go up for everyone, and the rate would go from 33% to 36% and from 35% to 39.6% for the top two brackets.

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