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Politics : PRESIDENT GEORGE W. BUSH
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To: JDN who wrote (130984)3/9/2001 2:13:35 PM
From: Nadine Carroll  Read Replies (1) of 769670
 
JDN,

The 28% percent bracket does not drop to 15%. Here is Bush's proposal: Over five years,

39.6% and 36% drop to 33%
31% and 28% drop to 25%
15% remains the same (over $12,000 for joint returns)
15% drops to 10% (under $12,000)

Also, the child deduction rises from $500 to $1000.

So you can see, if your income is today mostly in the 15% and 28% brackets, you won't see a big tax savings unless you have kids.
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