I originally posted the following information and commentary onto my Facebook wall…
IRS Increases “Marriage Penalty,” Unmarried Cohabitants To Get Twice The Mortgage Interest Deduction:
http://www.forbes.com/sites/anthonynitti/2016/08/01/irs-increases-marriage-penalty-unmarried-cohabitants-to-get-twice-the-mortgage-interest-deduction/
(Tony Nitti) There are a thousand good reasons to never get married: in-laws, divorce attorneys, and the inevitable ravages of age on one’s attractiveness come immediately to mind.
But there are also significant tax hits that come with getting hitched, or as they’ve collectively been coined, the “marriage penalty.” For example, the 28% tax bracket kicks in at $91,150 of income if you’re single, but at only $151,900 — an amount basic math tells you is less than double $91,150 — for married taxpayers. In addition, single taxpayers start to lose 3% of itemized deductions when adjusted gross income exceeds $258,250; married taxpayers, however, will lose itemized deductions once adjusted gross income exceeds only $309,900.
My Commentary: Statism: penalizing marriage while incentivizing “shacking up.”
