Total income $45,000

No dependents

Standard deduction 7,600

Personal exemption 5,800

Charitable contribution 0

Tax using current tax law Tax under Bush proposal

Charitable contribution $ 0

Taxable income $31,600 Taxable income 31,600

Child tax credit 0 Child tax credit 0

Total taxes 4,740 Total taxes 4,140

Tax cut under Bush proposed rate change - $600

Percentage tax cut 12.66

Increase in family income 1.33%


© 2001 Deseret News Publishing Company

Source: D. Brock Griffiths, tax specialist with Ernst & Young