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NY Times | Hope and Change: Obama’s tax increases kick in January 1st





Americans’ taxes will rise in a few weeks. Though the direction is clear, the exact amount is yet to be determined.

More than a dozen tax cuts are set to expire Dec. 31 and a couple of new taxes are scheduled to start with the new year. Combined, they would affect nearly 90 percent of taxpayers, from the very richest to the very poorest, with the typical household’s tax bill rising by about $2,000 in 2013, according to the nonpartisan Tax Policy Center. Taxes on one-percenters would rise an average of $121,000.

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