Tax Cut Calculator

Calculate Your Share of the Bush-Era Tax Cuts

The Bush-era tax cuts drove the dramatic increase in the deficit over the last decade and are a contributor to the explosion in economic inequality. The benefit of the Bush-era tax cuts goes mostly to the richest taxpayers for two main reasons:

1. Wealth vs. Work: Taxes on investment income were slashed, rewarding wealth over hard work. Tax cuts on capital gains and dividends overwhelmingly benefit the richest taxpayers. Learn more »

2. Income Tax Rate Cuts: Income tax rates were cut across the board, but the overwhelming share of the benefit goes to the highest-income households. Learn more »

Calculate your Tax Cut

Limitations of the Tax Calculator
This calculator is intended to be educational in value and not to be used as a financial planning tool. Your actual tax savings may be affected by other parts of the tax law, including the child tax credit, EITC, the business tax deductions, educational deductions, and the Alternative Minimum Tax (AMT).

Enter your 2011 taxable income
This includes any dividend and capital gains income, but AFTER your deductions* are taken out. Estimate or enter the figure on line 43 of your 2011 Form 1040 income tax return.

*Standard deductions are $5,700 for single filers, $11,400 for married filing jointly, and $8,400 for head of household.

Enter your 2011 qualified dividends
Estimate or enter the figure on Line 9b of your 2011 Form 1040. Enter "0" if you had no dividend income.

Enter your net long-term capital gains
Estimate or enter the figure on Schedule D, Line 15 of your 2011 Form 1040. Enter "0" if you had no capital gains income.

Results

Total Savings from Income Tax Rate Reductions


Tax Savings from qualified dividends and capital gains rate reductions


The Bottom Line: Your 2011 Tax Break


Your 2011 effective tax rate

 

Use the calculator above to see your share of the Bush-era tax cuts. Remember to write down your tax savings so you can refer to it when you take the Tax Fairness Pledge.

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