The Fiscal Cliff Deal And Your Taxes
Short Answer: Your Taxes Will Go Up
The new deal to avoid the fiscal cliff means the average Alabamian will pay an additional $579 dollars a year in taxes, but some will pay much more. The tax package passed by Congress yesterday prevents one set of tax increases from hitting most Americans, but it won’t stop them all. A temporary Social Security payroll tax reduction will expire, meaning nearly every wage earner will see taxes go up. The wealthy also face higher income taxes.
The median household income in Alabama is just under $43,000. How the tax increases will affect households at different income levels:
Annual income: $20,000 to $30,000
Average tax increase: $297
Annual income: $30,000 to $40,000
Average tax increase: $445
Annual income: $40,000 to $50,000
Average tax increase: $579
Annual income: $50,000 to $75,000
Average tax increase: $822
Annual income: $75,000 to $100,000
Average tax increase: $1,206
Annual income: $100,000 to $200,000
Average tax increase: $1,784
Annual income: $200,000 to $500,000
Average tax increase: $2,711
Annual income: $500,000 to $1 million
Average tax increase: $14,812
Annual income: More than $1 million
Average tax increase: $170,341
Dozens of states sue to block the sale of 23andMe personal genetic data
States argue that biological samples, DNA data, health-related traits and medical records are too sensitive to be sold without each person's express, informed consent.
Drug deaths plummet among young Americans as fentanyl carnage eases
U.S. drug deaths dropped by roughly 40% last year among people under the age of 35. It's a welcome pivot for families and communities devastated by fentanyl.
What happened when Lyndon Johnson federalized the National Guard
President Lyndon B. Johnson federalized the National Guard in 1965, calling on troops to protect civil rights advocates who were marching from Selma, Ala., to Montgomery.
Trump mobilizes Marines for duty in Los Angeles
U.S. Northern Command says the infantry battalion would be supporting the National Guard troops "who are protecting federal personnel and federal property in the greater Los Angeles area."
RFK Jr. boots all members of the CDC’s vaccine advisory committee
Health Secretary RFK Jr. has removed all 17 members of the CDC's Advisory Committee on Immunization Practices. He says replacing them with new members will help restore 'public trust' in vaccines.
Justin Baldoni’s $400 million defamation suit against Blake Lively dismissed
Baldoni's $400 million lawsuit was in response to Lively accusing him of sexual harassment on the set of It Ends With Us.