What happens to you if the tax cuts expire?

Never mind the "will they or won't they?" chatter in Washington about letting the Bush tax cuts expire. The real question for most Americans is how much more will they pay if Congress fails to do anything. Americans for Tax Reform has the answer. First,

everyone who pays taxes will see a tax hike in their first paycheck of the year.

Here's how much:

• If you're in the 10 percent bracket, you'll be taxed at 15 percent.
• The 25 percent bracket rises to 28 percent
• The 28 percent bracket rises to 31 percent
• The 33 percent bracket rises to 36 percen
• The 35 percent bracket rises to 39.6 percent

And, says ATR, the marriage penalty will return, the child tax credit will be halved from $1,000 to $500 per child and the dependent care tax credit will be cut.
Further, the capital gains tax will increase from 15 percent to 20 percent. The top dividends tax will increase from 15 percent to 39.6 percent.