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How much will it cost you if Bush cuts end?

Posted By -NO AUTHOR- On 08/15/2012 @ 11:14 pm In Money | No Comments

(CNBC) Americans would shell out as much as $5,700 more a year if the Bush tax cuts are allowed to expire at the end of 2012, according to a new analysis that highlights the perils and political consequences of the nation’s fiscal cliff.

Connecticut residents would get rocked the worst, with an additional cost of $5,783 a year while New Yorkers would get hit $5,542 on average, the study from the nonpartisan Tax Foundation states.

Mississippi residents get the least impact, at $1,310 on average, but 29 of the 50 states will see taxpayers get hit at least $2,000.


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