Chicago Sun-Times
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How the new tax package will affect you

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The 1 percent isn't the only group facing a tax increase -- according to an analysis by the Tax Policy Center, the tax package passed by Congress will raise taxes on 77% of households.

The average tax increase for U.S. households paying higher taxes would be about $1,635.

But what about the 1 percent? Under the new budget deal, the top 1 percent of taxpayers will have to pay an average tax increase of $73,633.

The very wealthy top 0.1 percent would see an average tax increase of $446,323.

Bloomberg reports that those with incomes over $2.7 million would pay 26 percent of the additional taxes, leaving their after-tax income reduced by 8.4 percent.

The Associated Press breaks it down by income level:

Annual income: $20,000 to $30,000

Average tax increase: $297

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Annual income: $30,000 to $40,000

Average tax increase: $445

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Annual income: $40,000 to $50,000

Average tax increase: $579

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Annual income: $50,000 to $75,000

Average tax increase: $822

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Annual income: $75,000 to $100,000

Average tax increase: $1,206

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Annual income: $100,000 to $200,000

Average tax increase: $1,784

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Annual income: $200,000 to $500,000

Average tax increase: $2,711

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Annual income: $500,000 to $1 million

Average tax increase: $14,812

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Annual income: More than $1 million

Average tax increase: $170,341

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