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Wow, the federal government’s really sticking it to married people. But wait…

January 18, 2013

I saw this headline today:

Top Earners Set to Pay Most, Especially Married People

It pays to be single — that is, when it comes to high earners’ tax bills.

U.S. taxpayers with income of more than $200,000 a year will see federal tax rates rise this year on wages and investments. Tax increases will pinch married couples faster than individuals, especially if both spouses work and have capital gains and dividend income, said Joseph Perry, partner- in-charge of tax and business services at the accounting firm Marcum LLP.

“If they’re sending a message, it’s not to be married,” Perry said of U.S. tax policy. “People who are married, working, earning two good salaries, are being penalized.”

But:

The High Price of Being Single in America

Over a lifetime, unmarried women can pay as much as a million dollars more than their married counterparts for healthcare, taxes, and more.

I assume unmarried men have the same issue.

As a married man with kids, though, I’ll tell you: it’s the single, childless taxpayers who really get it bent over. Mostly the childless ones. Us parents love our children way more right around tax time.

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