Two single filers, no dependents, no charitable contribution
FOR EACH:
Income $28,000
Standard deduction 4,550
Personal exemption 2,900
Charitable contribution 0
Tax using current tax law Tax under Bush proposal
Taxable income $20,550 Taxable income $20,550
Total taxes 3,083 Total taxes 2,783
Total taxes times 2
$6,166 $5,566
Married filing jointly, two incomes, no dependents, no charitable contributionTotal income $56,000
Earnings of lesser earner 28,000
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 2,800
Taxable income $42,600 Taxable income 39,800
Child tax credit 0 Child tax credit 0
Total taxes 6,390 Total taxes 5,370
Marriage penalty under current tax law: $224
Tax on two single filers $6,166
Tax on two joint filers 6,390
© 2001 Deseret News Publishing Company
Source: D. Brock Griffiths, tax specialist with Ernst & Young