to this part a tax equal to— (1) 19 percent of the taxable income of such individual for such taxable year in the case of the first 2 taxable years of the individual beginning with the taxable year for which the election is made, and (2) 17 percent of the taxable income of such individual for such taxable year in the case of all taxable years subsequent to the taxable years described in paragraph (1). (b) Taxable income For purposes of this part, the term taxable income means the excess of— (1) the sum of— (A) wages (as defined in section 3121(a) without regard to paragraph (1) thereof) which are paid in cash and which are received during the taxable year for services performed in the United States, (B) retirement distributions which are includible in gross income for such taxable year, plus (C) amounts received under any law of the United States or of any State which is in the nature of unemployment compensation, over (2) the standard deduction. (c) Standard deduction For purposes of this part— (1) In general The term standard deduction means the sum of— (A) the basic standard deduction, plus (B) the additional standard deduction. (2) Basic standard deduction For purposes of paragraph (1), the basic standard deduction is— (A) $32,496 in the case of— (i) a joint return, or (ii) a surviving spouse (as defined in section 2(a)), (B) $20,739 in the case of a head of household (as defined in section 2(b)), and (C) $16,248 in the case of an individual— (i) who is not married and who is not a surviving spouse or head of household, or (ii) who is a married individual filing a separate return. (3) Additional standard deduction For purposes of paragraph (1), the additional standard deduction is $6,998 for each dependent (as defined in section 152) who is a qualifying child (as defined in section 152(c)(1)) for the taxable year and who is not required to file a return for such taxable year. (d) Retirement distributions For purposes of this section, the term retirement distribution means any distribution from— (1) a plan