# Bush's Tax Refund - How Much to Average Guy? **URL:** \ **Category:** Factual Questions\ **Created:** [May 28, 2003, 2:57pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027 "2003-05-28T14:57:15Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Philster](https://avatars.discourse-cdn.com/v4/letter/p/13edae/32.png) [@Philster](https://boards.straightdope.com/u/Philster)\ **Post date:** [May 28, 2003, 2:57pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/1 "2003-05-28T14:57:15Z")
Okay, what’s the deal? This tax relief will produce ‘refund checks’ :dubious:, but are these refunds or ‘advances’, and what can we expect to get back…or get an advance on? And, what does that mean to next year’s taxes? I’m confused. ---
**Author:** ![Early\_Out](https://avatars.discourse-cdn.com/v4/letter/e/6f9a4e/32.png) [@Early\_Out](https://boards.straightdope.com/u/Early_Out)\ **Post date:** [May 28, 2003, 3:09pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/2 "2003-05-28T15:09:57Z")
As I understand it, if you’ve got children, you’ll be getting a check amounting to $400 for each of the little devils sometime this year. It’s not a refund of any of last year’s taxes, but rather an advance on your taxes for 2003. So, when you do next year’s taxes, instead of taking the new $1000 credit for each child, you’ll take only $600 (since you will already have gotten $400). In addition to that, if you’re having taxes withheld from your salary, the withholding tables will be adjusted so that you’ll end up having somewhat less money withheld. ---
**Author:** ![Zazie](https://avatars.discourse-cdn.com/v4/letter/z/6f9a4e/32.png) [@Zazie](https://boards.straightdope.com/u/Zazie)\ **Post date:** [May 28, 2003, 3:10pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/3 "2003-05-28T15:10:01Z")
I am confused too. From what I read online on MSNBC ( and of course, I can’t find the article again…) it won’t help me too much! It helps if you have a kid under 17 or if you’re over 65 and things like that. Is there a savy tax person out there to explain it to us!? ---
**Author:** ![Zazie](https://avatars.discourse-cdn.com/v4/letter/z/6f9a4e/32.png) [@Zazie](https://boards.straightdope.com/u/Zazie)\ **Post date:** [May 28, 2003, 3:16pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/4 "2003-05-28T15:16:32Z")
> **[MSNBC News - Breaking News and News Today | Latest News](https://www.msnbc.com/)** > > MSNBC breaking news and the latest news for today. Get daily news from local news reporters and world news updates with live audio & video from our team. Not the one I had seen, but some info about the tax break in there. ---
**Author:** ![Early\_Out](https://avatars.discourse-cdn.com/v4/letter/e/6f9a4e/32.png) [@Early\_Out](https://boards.straightdope.com/u/Early_Out)\ **Post date:** [May 28, 2003, 3:28pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/5 "2003-05-28T15:28:32Z")
Lots more info on [CNN](http://www.cnn.com/2003/ALLPOLITICS/05/28/bush.taxes.ap/index.html). The bottom line is that it will help you if you have minor children, or if you get substantial income from dividends on stocks (unless those stocks are already tax-sheltered in an IRA or 401k plan), or if you realize substantial capital gains, or if you’re currently getting hit with the marriage penalty (a couple in which both partners are bringing in a very good income). Most of the tax rates will be lowered somewhat, so you should see some lowering of your taxes resulting from that, though the more you make, the better the break. ---
**Author:** ![Early\_Out](https://avatars.discourse-cdn.com/v4/letter/e/6f9a4e/32.png) [@Early\_Out](https://boards.straightdope.com/u/Early_Out)\ **Post date:** [May 28, 2003, 3:34pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/6 "2003-05-28T15:34:58Z")
One of the links on the page I cited above is particularly helpful: [http://money.cnn.com/2003/05/22/pf/taxes/q\_taxbill/index.htm](http://money.cnn.com/2003/05/22/pf/taxes/q_taxbill/index.htm) ---
**Author:** ![John\_Mace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/john_mace/32/185_2.png) [@John\_Mace](https://boards.straightdope.com/u/John_Mace)\ **Post date:** [May 28, 2003, 3:38pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/7 "2003-05-28T15:38:36Z")
> [@](#): > > \*Originally posted by Philster \* > I’m confused. Are you saying that you don’t understand the US tax code? You must just be lazy. If you had simply taken an 8-year intensive post-graduate course in tax law, you wouldn’t need to ask such silly questions on this board.🙂 ---
**Author:** ![kniz](https://avatars.discourse-cdn.com/v4/letter/k/c37758/32.png) [@kniz](https://boards.straightdope.com/u/kniz)\ **Post date:** [May 28, 2003, 3:54pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/8 "2003-05-28T15:54:57Z")
[ul]**There is no such thing as the AVERAGE GUY/GIRL!** :rolleyes:[/ul] ---
**Author:** ![Philster](https://avatars.discourse-cdn.com/v4/letter/p/13edae/32.png) [@Philster](https://boards.straightdope.com/u/Philster)\ **Post date:** [May 28, 2003, 3:56pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/9 "2003-05-28T15:56:20Z")
Good links. Thanks. I have a headache. I promise to pump the refund/advance right back into the economy. ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [May 28, 2003, 4:16pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/10 "2003-05-28T16:16:56Z")
\ > [@](#): > > As Bush traveled widely to sell his package, he portrayed the ailing economy as something he inherited, taking care to mention that the recession took place in 2001’s first three quarters — the beginning of his presidency. That period of negative growth was then exacerbated by that fall’s terrorist attacks and corporate corruption scandals, he often said. > > The intent was to place the problems’ creation outside the president’s control, while positioning him to gain credit for trying to fix them. > > **But after a $1.35 trillion tax cut in 2001, a $96 billion stimulus last fall and the new $350 billion package, it is widely agreed that Bush now has ownership of the economy for better or for worse.** Source: [http://story.news.yahoo.com/news?tmpl=story&cid=544&ncid=716&e=5&u=/ap/20030528/ap\_on\_go\_pr\_wh/bush\_taxes](http://story.news.yahoo.com/news?tmpl=story&cid=544&ncid=716&e=5&u=/ap/20030528/ap_on_go_pr_wh/bush_taxes) \ ---
**Author:** ![Diceman](https://avatars.discourse-cdn.com/v4/letter/d/22d042/32.png) [@Diceman](https://boards.straightdope.com/u/Diceman)\ **Post date:** [May 28, 2003, 4:16pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/11 "2003-05-28T16:16:58Z")
Frankly, I think that this refund check stuff is a bit misleading. After the last “refund” (advancement), I remember hearing plenty of people bitching and complaining when they did their 1040s and their refund was way smaller than it usually was. (I wasn’t elidgeable for the last advancement, and I’m not gonna get this one, and frankly I’m glad. I like getting that nice big refund check in early April.) ---
**Author:** ![John\_Mace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/john_mace/32/185_2.png) [@John\_Mace](https://boards.straightdope.com/u/John_Mace)\ **Post date:** [May 28, 2003, 4:39pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/12 "2003-05-28T16:39:43Z")
“I like getting that nice big refund check in early April.” I’ve never understood the logic of giving the gov’t a zero interest loan every year. I guess if that’s the only way you can save money, it might work. Much better to adjust your witholding and sock the extra money away where it’s actually doing some good. ---
**Author:** ![SnoopyFan](https://avatars.discourse-cdn.com/v4/letter/s/d07c76/32.png) [@SnoopyFan](https://boards.straightdope.com/u/SnoopyFan)\ **Post date:** [May 28, 2003, 4:59pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/13 "2003-05-28T16:59:44Z")
I have a 2 year old and AFAIK we’re not getting anything back this summer. Our income is too low or something. But that’s okay because in a couple of years when we have real jobs, we’ll benefit then 🙂 ---
**Author:** ![SmackFu](https://avatars.discourse-cdn.com/v4/letter/s/53a042/32.png) [@SmackFu](https://boards.straightdope.com/u/SmackFu)\ **Post date:** [May 28, 2003, 5:16pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/14 "2003-05-28T17:16:43Z")
They’re lowering the 27% bracket to 25%. If you’re single and your AGI is over 67K, that should save you about $800 this year, if my math is right. But it’s reflected in your withholding, not in your rebate. ---
**Author:** ![World\_Eater](https://avatars.discourse-cdn.com/v4/letter/w/f04885/32.png) [@World\_Eater](https://boards.straightdope.com/u/World_Eater)\ **Post date:** [May 28, 2003, 6:27pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/15 "2003-05-28T18:27:08Z")
> [@](#): > > \*Originally posted by SmackFu \* > \*\*They’re lowering the 27% bracket to 25%. If you’re single and your AGI is over 67K, that should save you about $800 this year, if my math is right. But it’s reflected in your withholding, not in your rebate. \*\* What about under 67K 😃 ---
**Author:** ![Bruce\_Daddy](https://avatars.discourse-cdn.com/v4/letter/b/85f322/32.png) [@Bruce\_Daddy](https://boards.straightdope.com/u/Bruce_Daddy)\ **Post date:** [May 28, 2003, 7:21pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/16 "2003-05-28T19:21:53Z")
> [@](#): > > \*Originally posted by World Eater \* > \*\*What about under 67K 😃 \*\* From the [cnn.com](http://cnn.com) link above: > [@](#): > > $41,000 INCOME > • Single: $211 > • Married couple with two children under 17: $1,208 > > $63,000 INCOME > • Single: $551 > • Married couple with two children under 17: $1,100 damn rich people getting all that money 😃 ---
**Author:** ![World\_Eater](https://avatars.discourse-cdn.com/v4/letter/w/f04885/32.png) [@World\_Eater](https://boards.straightdope.com/u/World_Eater)\ **Post date:** [May 28, 2003, 7:28pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/17 "2003-05-28T19:28:26Z")
Question. Is that a $211 check in the mail, or (bi-weekly) $8.11 more a check? ---
**Author:** ![Airman\_Doors\_USAF](https://avatars.discourse-cdn.com/v4/letter/a/e36b37/32.png) [@Airman\_Doors\_USAF](https://boards.straightdope.com/u/Airman_Doors_USAF)\ **Post date:** [May 28, 2003, 7:33pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/18 "2003-05-28T19:33:16Z")
Considering how much rich people pay, good on them for getting a refund. Damn, I forgot, they only made it by sucking the blood of the poor. Silly me. Damn those lazy, useless rich people. So, who is the average guy, exactly? ---
**Author:** ![friedo](https://avatars.discourse-cdn.com/v4/letter/f/8edcca/32.png) [@friedo](https://boards.straightdope.com/u/friedo)\ **Post date:** [May 28, 2003, 7:39pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/19 "2003-05-28T19:39:00Z")
According to the friendly folks at the [Census Bureau](http://www.census.gov/hhes/www/income01.html), the median household income in 2001 is about $41,000. ---
**Author:** ![Penumbra](https://avatars.discourse-cdn.com/v4/letter/p/9f8e36/32.png) [@Penumbra](https://boards.straightdope.com/u/Penumbra)\ **Post date:** [May 28, 2003, 7:42pm UTC](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027/20 "2003-05-28T19:42:59Z")
> [@](#): > > $41,000 INCOME > • Single: $211 > • Married couple with two children under 17: $1,208 > > $63,000 INCOME > • Single: $551 > • Married couple with two children under 17: $1,100 What about under $41,000? :rolleyes: [Next page](https://boards.straightdope.com/t/bushs-tax-refund-how-much-to-average-guy/178027.md?page=2)