Married filing jointly, two incomes $60,000 total, no dependents, no charitable contribution

Total income $60,000

Earnings of lesser earner 30,000

Dependents under 17 - 0

Dependents 17 or older - 0

Standard deduction 7,600

Personal exemption 5,800

Charitable contribution 0

Tax using current tax law Tax under Bush proposal

Charitable contribution $ 0

Dual earner 3,000

Taxable income: $46,600 Taxable income 43,600

Child tax credit 0 Child tax credit 0

Total taxes: 7,172 Total taxes 5,940

Tax cut under Bush proposal $1,232

Lesser earner deduction $590

Rate change 642

Percentage tax cut 17.18

Increase in family income 2.05%

© 2001 Deseret News Publishing Company

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