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JS-411
Example 1: A married couple with one child and income of $40,000 will see their taxes decline under the Jobs and Growth Tax Relief Reconciliation Act of 2003 by $732 (from $2,235 to $1,503) in 2003, a decline of 33 percent.
Example 2: A married couple with two children and income of $40,000 will see their taxes decline under the Jobs and Growth Tax Relief Reconciliation Act of 2003 by $1,133 (from $1,178 to $45) in 2003, a decline of 96 percent.
Example 3: A married couple with two children and income of $60,000 will see their taxes decline under the Jobs and Growth Tax Relief Reconciliation Act of 2003 by $900 (from $3,750 to $2,850) in 2003, a decline of 24 percent.
Example 4: A married couple with two children and income of $75,000 will see their taxes decline under the Jobs and Growth Tax Relief Reconciliation Act of 2003 by $1,122 (from $5,817 to $4,695) in 2003, a decline of 19 percent.
Example 5: A married couple, both aged 65, with income of $40,000 (of which $2,000 is dividends and $15,000 is Social Security benefits) will see their taxes decline under the Jobs and Growth Tax Relief Reconciliation Act of 2003 by $255 (from $930 to $675) in 2003, a decline of 27 percent.
Example 6: A married couple, both aged 65, with income of $80,000 (of which $4,500 is dividends and $20,000 is Social Security benefits) will see their taxes decline under the Jobs and Growth Tax Relief Reconciliation Act of 2003 by $1,677 (from $9,107 to $7,430) in 2003, a decline of 18 percent.
Detailed examples are attached.
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