From 2001-2004, Congress approved legislation introduced by President Bush that would significantly reduce taxes in order to stimulate the economy. Pres. Bush has received criticism for pursuing a policy that largely benefits America's wealthiest citizens.
-Proponents argument . . .
According to an analysis by the Urban Institute, the tax cuts are regressive and will become more regressive over time, shifting the tax burden onto the middle-income earners. "2.6 percent of after-tax income ($742) for those in the middle quintile of the income distribution. Those in the top 1 percent received an average tax cut of 4.6 percent of after-tax income ($34,948). The top one-tenth of 1 percent-taxpayers with income greater than $1.75 million-received an average tax cut of 5.6 percent of after-tax income ($185,533)" (Source: Urban Institute).
* The budget surplus President Bush inherited from his predecessor was obliterated by this reform coupled with his spending record.
* The budget outlook is bleak in the midst of the costly Iraq war and in the onset of the retiring baby boomer generation, both of which are intended to overload government finances.
| Stance | Person | Profession |
|---|---|---|
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John Herman Cox (R) | Author & Politician |
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George W. Bush (R) | 43rd President of the United States |
|
Hillary Clinton (D) | Secretary of State |
|
John McCain (R) | Senator & Retired Naval Captain |
|
Barack Obama (D) | 44th President of the United States |
|
Rudy Giuliani (R) | Fmr. NYC Mayor |
|
John Edwards (D) | Attorney and Former Presidential Candidate |
|
Fred Thompson (R) | Presidential Candidate, Lawyer, Lobbyist, Actor, and Former Senator |
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Dennis Kucinich (D) | Congressman |
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Joe Biden (D) | 47th Vice President of the United States |
|
Mitt Romney (R) | CEO & Former Governor |
|
Ron Paul (R) | Congressman and Physician |
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Bill Richardson (D) | Secretary of Commerce designate (Obama Administration) |
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Sam Brownback (R) | Senator |
|
Chris Dodd (D) | Senator |
|
Mike Gravel | Fmr. Alaskan Senator |
|
Duncan Hunter (R) | Congressman |
|
Tom Tancredo (R) | U.S. Representative |
|
Dick Cheney (R) | Former Vice President |
|
Keith Ellison (D) | Representative |
| Stance | Group |
|---|---|
|
Republican |
| Topic (jump to last post >>) | Last Post | Forum | Posts | |
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Bush Tax Cuts
>> started by sam, views since Dec 7, 2007 |
jackriter >> Updated 256 days, 22 hours, 57 minutes ago |
Bush Tax Cuts |
30
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| Mr.Republicrat edited the Bush Tax Cuts overview page | |
| jackriter posted on the Bush Tax Cuts forum - (Bush Tax Cuts) | |
| nd_1992 posted on the Bush Tax Cuts forum - (Bush Tax Cuts) | |
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| HelloDollyLlama posted on the Bush Tax Cuts forum - (Bush Tax Cuts) |