The new tax deal raises rates for couples earning more than $450,000 but... it also begins the phase-out of various deductions at $250,000.
One might think that deductions are more valuable (and hence, the phase-out would hit harder) in the Blue States with high state, local taxes and property. But, as the NY Times explains, its complicated since at that income level the Alternative Minimum Tax can come into play as well.
The net effect, per the example they found an expert willing to climb a limb - for couples grossing just under the new $450,000 threshold the new deal apparently hits harder in Texas than in New York. Go, Obama and Boo, Boehner.
Much will depend on your own situation. CCH ran two hypothetical cases for me, which you can see in the accompanying graphic. The first examined a family of four in New York with $400,000 in adjusted gross income and $79,000 in total itemized deductions. The household pays the A.M.T. in both 2012 and under the new tax rules in 2013. They pay just $790 more in 2013, but that includes $1,350 in new Medicare taxes. (The total does not include the Social Security payroll tax that has been restored to its prerecession level.)
A family in Texas, however, might have the same income but lower property taxes and no income tax and thus lower deductions for its federal tax return. Their deductions are just $43,700, but they end up being hurt more by the new rules. They would have no A.M.T. liability in 2013 and would end up paying $3,852 more, or about $2,500 if you don’t count the $1,350 from the new Medicare tax.
Wow - setting aside the new ObamaCare tax, the New York family pays less under this new "soak the rich" reform.