The Tax Hike that Isn't a Tax Hike

Under the president's proposed tax increase to help offset the cost of the American Jobs Act, taxpayers in the upper brackets won't really be paying all that much more. Digby highlighted a NYT article that gamed out the tax "increase" for a typical New York professional family.

What gets lost in all of the hand-wringing over the proposed tax increases is that many of the people this is aimed at wouldn’t pay a whole lot more. And families who work at it just a bit, using employer-sponsored flexible spending and other accounts to pay for things like day camp and the commuter train and visits to the therapist, could offset that 2013 tax increase and then some. [...]

But if the proposal simply means that you calculate taxable income for 2013 and then pay 28 percent of it, you get $69,633, or just $4,029 more than the family would have paid in 2011 and 2012.

$4,029 broken down over 12 months is, well, not nothing -- but close to being insignificant for this hypothetical family. Around $10 per day. But, according to the article, they won't have to pay it because of loopholes for healthcare and so forth.

Of course this is a major bigtime stinky pantsload of a deal for the Republicans who will insist that this hurts "job creators." None -- none more taxes.