April 15, 2005 03:58 PM | Permalink |
The 2004 tax returns released today by President Bush and Vice-president Cheney show that the two saved a combined $110,182 in taxes last year from the President’s income tax cuts. Specifically:
- President and Mrs. Bush reported $784,219 in total income on their tax return. They paid $207,307 in income tax, $28,846 less than under the pre-Bush tax law.
- Vice-president and Mrs. Cheney reported $2,173,892 in total income on their tax return. They paid $365,840 in income tax, $81,336 less than under the pre- Bush tax law.
- In percentage terms, the Bushes paid 12 percent less in income tax due to the President’s tax cuts. The Cheneys paid 18 percent less.