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Michael
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Have my taxes gone up or down since Obama took office?
Single filer, ~$40k/year. I'd like to know how much it changed...
A link to what you used to figure it out would be helpful. Thanks!!!
1 Answer
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- Anonymous1 decade agoFavorite Answer
Down.
The standard deduction went up $250.
The personal exemption went up $150.
The 10% tax bracket expanded from $8025 to $8350.
There's a $400 making work pay credit.
Your tax in 2008 for $40K would have been $4256.
For 2009, the same $40K is $3780.
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