‘Taxmageddon’ could shock the nation’s pocketbook

Thanks to some new taxes, the expiration of other short-term tax laws and other changes, the country’s economy could be dealt a major blow in 2013. Here’s a look at which tax policies are set to change on or around Jan. 1 that could contribute to what some congressional aides are calling “taxmageddon.”

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The marriage penalty for joint filers will spring back to life on Jan. 1.

Joe Raedle / Getty Images

On Jan. 1, 2013, the value of the child credit will drop from $1,000 to $500.

Nikki Kahn / The Washington Post

This Dec. 31, the George W. Bush-era tax cuts are scheduled to expire, raising rates on investment income, estates and gifts, and earnings at all levels.

/ AP

On Jan. 1, the Social Security payroll tax will pop back up to 6.2 percent from 4.2 percent under the deal approved Friday by Congress.

Bradley C Bower / AP

On Jan. 1, new Medicare taxes enacted as part of President Obama’s health-care initiative will for the first time strike high-income households.

Karen Bleier / AFP/Getty Images

FEATURED PHOTO GALLERIES

BALTIMORE, MD - MAY 18: Jockey Gary Stevens rides Oxbow out to the front of the pack on the first straight away during the 138th Running of the Preakness Stakes at Pimlico Race Course in Baltimore, Md., on Saturday, May 18, 2013. (Photo by Toni L. Sandys/The Washington Post)

Oxbow wins and infield fun at Preakness Stakes in Baltimore

Oxbow put D. Wayne Lukas in the record books again with an upset of Orb in the Preakness Stakes on Saturday, giving the Hall of Fame trainer...

New York Yankees' Travis Hafner bats during the fifth inning of a baseball game against the Kansas City Royals Sunday, May 12, 2013, in Kansas City, Mo. (AP Photo/Charlie Riedel)

MLB power rankings

Barry Svrluga assesses the best teams in Major League Baseball through Thursday.

WASHINGTON, DC - MAY 13: Many seminary graduates are choosing not to become pastors. Rebecca J. Cole received her Master of Divinity and is becoming a community organizer on Capitol Hill. She hugs another graduate after the ceremony. The 2013 Commencement ceremony for Wesley Theological Seminary was held on May 13 at the Washington National Cathedral. (Photo by Sarah L. Voisin/The Washington Post)

Eager to minister, but not from the pulpit

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epa03704474 A Muslim woman at the ThetKalPyin temporary relief camp near Sittwe in Rakhine State, Western Myanmar, 17 May 2013. A total of 13 people were confirmed dead in neighboring Bangladesh as people began to return home from shelters, a day after Cyclone Mahasen hit the coast, officials said 17 May. EPA/NYEIN CHAN NAING

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Cyclone Mahasen, Texas tornadoes, puffin census, melting Swiss glacier and more.

LOS ANGELES, CA - MAY 16: American Idol Season 12 Winner Candice Glover (C) is seen onstage during Fox's 'American Idol 2013' Finale Results Show at Nokia Theatre L.A. Live on May 16, 2013 in Los Angeles, California. (Photo by Kevin Winter/Getty Images)

Candice Glover wins 12th season of ‘American Idol’

The 23-year-old vocal powerhouse from St. Helena Island, S.C., tops competition in her third try.

US actress Claire Julien smiles on May 16, 2013 while posing during a photocall for the film 'The Bling Ring' at the 66th edition of the Cannes Film Festival in Cannes. Cannes, one of the world's top film festivals, opened on May 15 and will climax on May 26 with awards selected by a jury headed this year by Hollywood legend Steven Spielberg. AFP PHOTO / ALBERTO PIZZOLI (Photo credit should read ALBERTO PIZZOLI/AFP/Getty Images)

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**LOC IMAGE** Geo. Hamilton, Assistant Superintendent, Cambria Iron Mills house, Johnstown Flood, May 31st, 1889. (Photo by Ernest Walter Histed / Library of Congress)

The Johnstown Flood of 1889

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HACIPASA, TURKEY - MAY 5: Syrian refugee Hala ponders her life on the run on Sunday, May 5, 2013, in Hacipasa, Turkey. Three times this morning, the sounds of aircrafts were followed by explosions that shook the ground. Hacipasa, which sits just across the river border from Syria, is home of several hundred Syrian refugees who have been displaced by their home country's conflict. For a year, Hala and her family have been displaced from their home village in Syria because of violent conflict. After bouncing from village to village, fleeing bombings that seemed to follow them, the family crossed into Turkey six weeks ago. Initially, the family was deported back into Syria, where they lived in camps for internally displaced Syrians. But when the camps were bombed, the family was allowed to cross into Turkey. Hala said, 'The blood of the people who died in Syria, the martyrs, is our sad song, but nobody is listening.' (Photo by Jahi Chikwendiu/The Washington Post)

Turkey faces a refugee crisis

More than 400,000 Syrians have crossed into Turkey seeking refuge from the conflict at home. Finding its resources stretched, Turkey is urgently appealing for international aid and...

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