Bush versus Clinton corrected tax data, tax tables, George Bush taxes
The email that was sent to me had some math errors, however the message is the same. Your taxes have been lower under the presidency of George Bush. Here are the corrected figures:
The table below presents the correct amount of tax paid by each of the hypothetical taxpayers in the comparison. Note that this comparison does not take into account the Alternative Minimum Tax, and the taxpayers in these examples take the standard deduction and do not have children.
| Individual Income Taxes Under Presidents Clinton and Bush, 1999 Law and 2008 Law | ||
| For taxpayers who take the standard deduction and have no children | ||
| Taxpayer | Tax under Clinton, 1999 tax law | Tax under Bush, 2008 tax law |
| Single, income of 30,000 | $3,157.50 | $2,756.25 |
| Single, income of 50,000 | $7,262.50 | $6,606.25 |
| Married, income of $50,000 | $5,085.00 | $4,012.50 |
| Single, income of $75,000 | $14,262.50 | $12,856.25 |
| Married, income of $75,000 | $9,426.50 | $7,762.50 |
| Single, income of $125,000* | $29,378.50 | $26,472.25 |
| Married, income of $125,000* | $23,426.50 | $19,462.50 |
| *This chart does not take into account the Alternative Minimum Tax | ||
This information was taken from The Tax Foundation site:
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