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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: rich4eagle who wrote (178379)	9/9/2001 10:54:46 PM
From: bosquedog	Respond to of 769667

The tax bill the president signed immediately creates a bottom income tax bracket of 10 percent, effective retroactively to the beginning of this year. That means the first $6,000 of a single's income or the first $12,000 of a couple's income is suddenly going to be taxed at 10 percent (instead of the old 15 percent rate). Because this change is retroactive, the government will owe everybody who already paid some of those taxes (through withholdings from their paychecks from January until now) some money back. The Treasury Department points out that this is not officially a "rebate" ... it's an "advance payment" to taxpayers of money they would have gotten back from the government as a rebate when they filed their tax returns next April (for 2001).