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Both A1 Gore Jr. and
George W. Bush have offered plans to tax cuts.
However, there are substantial differences between their proposals, and which taxpayers will receive tax Telief. ' The Bush tax cut plan is an across-the-board tax cut. Every taxpayer gets a tax cut. Gore’s plan is targeted to particular groups of taxpayers.
Bush’s plan will replace the 15-28-31-36-39 percent system of rates with a 10-15'25-33 percent structure.
The lowest earners — those who make enough to file, but not enough to pay - will get tax relief also. Under Bush's tax plan, two to three percent of Social Security payroll taxes will be returned for individual investment accounts. That represents a tax cut of 16-24 percent for 30 million return-filing, non-paying earners.
Gore offers no such plan for using Social Security tax payments for individual retirement investment accounts.
Bush's tax cut plan favors low-income people. The Bush plan offers a reduction in the bottom rate to 10 percent
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