Top Ten Videos to watch

HISTORY Brings 'Roots' Cast And Crew To The White House For Screening
Graduates tossing caps into the air
Freddie Gray Baltimore Protests
Mid section of man in graduation gown holding diploma
Legendary Baseball Player Tony Gwynn's Family Files A Lawsuit Against Big Tobacco
ME.jailhouse#2.0117.CW Montebello City Council has approved use of a private contractor to run the n
Chicago Mayor Rahm Emanuel Addresses Police Misconduct At Chicago City Council Meeting
WWII Soldiers Standing In A Flag Draped Sunset - SIlhouette
Students Taking a College Exam
Bill Cosby Preliminary Hearing
Hillary Clinton Campaigns In Louisville, Kentucky
Worried black businesswoman at desk
Tyler Perry And Soledad O'Brien Host Gala Honoring Bishop T.D. Jakes' 35 Years Of Ministry
Teacher with group of preschoolers sitting at table
FBI Officials Discuss Apprehension Of Explosions Suspect After Three-Day Manhunt
NFC Championship - San Francisco 49ers v Atlanta Falcons
Protests Erupt In Chicago After Video Of Police Shooting Of Teen Is Released
Nine Dead After Church Shooting In Charleston
Portrait of senior African woman holding money
President Bush Speals At Federalist Society's Gala
Police Line Tape
Senior Woman's Hands
Police officers running
New Orleans Residents Return to Housing Projects
David Banner
Leave a comment

What tax bracket am I in? It’s a question many Americans are asking themselves right about now, even though tax day—April 15, 2013—is a long way away. Below is a chart of the projected tax brackets for 2013, as posted on and numerous other websites.

Tax Rate Single Married Filing Joint Head of Household
10% Up to $8,750 Up to $17,500 Up to $12,500
15% $8,751 – $35,500 $17,501 – $71,000 $12,501 – $47,600
25% $35,501 – $86,000 $71,001 – $143,350 $47,601 – $122,850
28% $86,001 – $179,400 $143,351 – $218,450 $122,851 – $198,900
33% $179,401 – $199,350 $218,451 – $241,900 $198,901 – $222,750
36% $199,351 – $390,050 $241,901 – $390,050 $222,751 – $390,050
39.6% Over $390,050 Over $390,050 Over $390,050


The figures are based on President Obama’s budget proposal for 2013, and if the administration gets its way, the top tax rate will increase from 35 percent to 39.6 percent. The reason for the increase is that several tax cuts enacted under President George W. Bush are set to expire. Experts believe Congress won’t vote on the matter until after the 2012 presidential election, but if the Bush cuts are not extended, will mean higher taxes for most individual payers. A summary of the major changes is available at

As points out, the increase would amount to $500 billion, or 3.4 percent of the U.S. GDP (gross domestic product). Democrats and Republicans are predictably split over the issue of tax increases, and those on the conservative side of the fence believe higher taxes will hurt job growth and corporate spending.

MUST READ: Are The Banks Stealing From You?

Ever wonder how the current system came into being? The IRS created tiered tax brackets in 1913. The agency’s aim was to create revenue for the government while not overtaxing people who make less money, according to As the website points out, the federal government later introduced dependent credits and deductions such as the Earned Income Tax Credit (EITC) to promote fairness for the lowest-earning families. As a result, the website reports, some 46 percent of Americans wind up paying no income tax.

MUST READ: How To Handle Financial Stress

Like Elev8 On Facebook To Enrich Your Mind, Body & Soul!

Also On News One: