| Effects of George W. Bush’s Revised Tax Plan Including a Vastly Expanded Alternative Minimum Tax (Annual effects at 1999 income levels, $-billions except averages) |
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| Revised Plan | Compare: Original Plan | % Change | |||||
| Income Group | Income Range | Average Income | Average Tax Cut | % of Total Tax Cut | Average Tax Cut in Original Plan | % of Total in Original Plan | From Original Tax Cut Plan |
| Lowest 20% | Less than $13,600 | $ 8,600 | $ –43 | 0.8% | $ –43 | 0.6% | — |
| Second 20% | $13,600–24,400 | 18,800 | –203 | 3.6% | –203 | 3.0% | — |
| Middle 20% | $24,400–39,300 | 31,100 | –499 | 9.0% | –501 | 7.4% | –0% |
| Fourth 20% | $39,300–64,900 | 50,700 | –979 | 17.6% | –1,043 | 15.4% | –6% |
| Next 15% | $64,900–130,000 | 86,800 | –1,420 | 19.2% | –1,908 | 21.1% | –26% |
| Next 4% | $130,000–319,000 | 183,000 | –2,237 | 8.0% | –5,340 | 15.7% | –58% |
| Top 1% | $319,000 or more | 915,000 | –46,526 | 41.8% | –50,196 | 36.9% | –7% |
| ALL | $ 50,800 | $ –1,103 | 100.0% | $ –1,349 | 100.0% | –18% | |
| ADDENDUM | |||||||
| Bottom 60% | Less than $39,300 | $ 19,500 | $ –248 | 13.4% | $ –249 | 11.0% | –0% |
| Top 10% | $92,500 or more | 218,000 | –6,369 | 57.3% | –8,367 | 61.6% | –24% |
| The revised plan costs $1.8 trillion over ten years, including interest, compared to $2.2 trillion for the original plan. Estimates exclude expanded Education Savings Accounts. Tax changes are shown fully effective at 1999 levels. Source: Institute on Taxation and Economic Policy Tax Model. Citizens for Tax Justice, May 2000. |
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