Something that seems to have gone unnoticed is that Obama’s tax plan contains a huge marriage penalty. Here’s how it works.
Obama’s soak-the-rich tax increase kicks in at $200,000 for singles with a tax cut for under $200.
For a married couple, it kicks in at $250,000.
Two single people, man and woman, with one earning $175,000 and the other earning $90,000–both get a tax cut.
They get married, now with a joint income of $265,000, they get slammed with a tax increase.
