http://www.kansascity.com/mld/kansascity/news/nation/8424619.htm?1c Posted on Wed, Apr. 14, 2004
Tax cuts Bush sought saved him $31,000
WASHINGTON — President Bush and his wife, Laura Bush, saved nearly $31,000 as a result of the tax cuts he championed last year, according to documents the White House released Tuesday.
Vice President Dick Cheney and his wife lost nearly all of their Bush tax cuts to the alternative minimum tax.
Bush made only part of his 2003 tax return available, breaking with a tradition of full disclosure begun by President Jimmy Carter.
Sen. John Kerry of Massachusetts, the presumptive Democratic nominee, made available only his own tax return, which he files separately from his wife, Teresa Heinz Kerry.
The Bushes reported adjusted gross income of $822,126, on which they paid a tax of $227,490, or 27.7 percent.
Without the tax cuts, they would have paid $30,858 more, two analyses showed.
The White House withheld Schedules A, D and E.
The Cheneys reported $1,267,915 of adjusted gross income and paid U.S. income tax of $241,392, or 19 percent.
They also paid $6,977 to foreign governments because of investment income abroad.
Under the regular income tax, the Cheneys would have paid $194,194, a $36,623 reduction because of the Bush tax cuts. But the Cheneys were forced into the alternative minimum tax system.
Kerry reported an adjusted gross income of $395,338. He paid a tax of $90,575, or 22.9 percent, compared with an average of 26.1 percent for his income group in 2001.
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What a prince!
curly
