CNN realpeople Page 22
Paid for by Gore/Lieberman, Inc.
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Family #4: An Elderly Couple Receiving Medicare Prescription Drugs and Buying Into
Medicare
Current Law
Gore-Lieberman Tax
Plan
Bush-Cheney Tax
Plan
Adjusted Gross Income
$17,900
$17,900
$17,900
Standard Deduction
-$7,600
-$9,100
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-$7,600
Personal Exemptions
-$5,800
-$5,800
-$5,800
Taxable Income
$4,500
$3000
$4,500
Marginal Tax Rate
15%
15%
15%
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Federal Income Taxes
$675
$450
$450
Total Tax Cut
n.a.
-$225
-$225
Health Insurance for 62 Year-old
Current Law
Gore-Lieberman
Bush-Cheney
Full Cost of Coverage
$596 / month
$7,147 / year
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$326 / month
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$3,912 / year
$596 / month
$7,147 / year
Health Insurance Tax Credit
$0
$978 tax credit
$500 tax credit
What Person Pays
$596 / month
$7,147 / year
$245 / month
$2,934 / year
$554 / month
$6,647 / year
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Gore Marriage Penalty Relief. The Gore marriage penalty plan increases the standard deduction for married couples to
twice that of singles, a $1,500 increase.
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Marginal Tax Rate. Governor Bush has proposed creating a 10 percent rate that would cover the first $12,000 of taxable
income for a married couple.
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The Commonwealth Fund 1999 Health Care Survey of Adults Ages 50 to 70. For an average 60-year old.
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Congressional Budget Office (April 2000).
