Dealing with Washington D.C. is a lot like The Godfather, Part III:
As expected, the IRS scrambled on 3 January 2013 to supersede and replace the withholding instructions it had previously issued on 31 December 2012, which we immortalized in the Part 2 version of our 2013 paycheck tool.
That makes our tool "Your Paycheck in 2013: Part 3" the final version of our 2013 paycheck estimating tool, at least until the politicians in Washington D.C. start monkeying with the tax code. Again. For now however, it would appear that President George W. Bush's 2001 and 2003 tax cuts have been made permanent for all those taxpaying households earning less than $400,000 (or $450,000 for couples filing jointly), as President Obama and Democratic party leaders succeeded in their goal of imposing higher income tax rates upon the top 0.5% of individual income earners and the top 0.3% of families or households.
You know the drill by now for how to use our tool to estimate how big your paycheck will be in 2013 after Uncle Sam has gotten his dirty ape paws all over it - here's the Part 3 version of our tool!
Political Calculations is a site that develops, applies and presents both established and cutting edge theory to the topics of investing, business and economics.
Be the first to read Political Calculation's column. Sign up today and receive Townhall.com delivered each morning to your inbox.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 28th 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom