Oct 23, The biggest tax policy changes enacted under President George W. Bush were the 20tax cuts, often referred to as the “Bush tax cuts” but formally named the Economic Growth and Tax Relief Reconciliation Act of (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of (JGTRRA).
High-income taxpayers benefitted most from these tax cuts, with the top 1 percent of households receiving an average tax cut Estimated Reading Time: 11 mins. Jun 07, The future of the Bush tax cuts was a central issue in the presidential campaign, in which John McCain advocated making almost all of the cuts permanent, and Barack Obama called for extending the cuts only for families earning less than, However, when the cuts were finally due to expire inPresident Obama extended the cuts Estimated Reading Time: 7 mins.
Aug 16, August 16, / PM / CBS/AP. President Bush's tax cuts since have shifted more of the tax burden from the nation's rich to middle-class families, according to a Estimated Reading Time: 2 mins.
Jan 17, Q: Rich paying higher percentage of taxes.
Since the Bush tax cuts, the proportion of taxes paid by the rich is much higher than it was under the old rates. The amount of money paid for capital gains also went up after the cuts. If the cuts helped the rich get richer, they also took almost half of the people off the tax rolls. Economic Growth and Tax Relief Reconciliation Act of (EGTRRA), the Bush tax cuts (phased down the estate tax and repealed it for ). Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act Of (extended most of the Bush estate tax cut, but not its full repeal, for two years).
Apr 10, Republicans are pushing for the continuation of the Bush tax cuts for the rich. On the one hand, they criticize the present administration for the size of the budget deficit, yet on the other, they want the tax cuts to continue. They say that we canâ€t afford 20 billion dollars in assistance to the unemployed, but we can afford theIn George W. Bush-era tax cuts expired, increasing the capital gains tax upward from 15 percent to 23 percent, which drove the effective tax rate for the super-rich up to percent- still far lower than the statutory marginal rate of percent that is supposed to be paid on incomes of over, Thebillion in revenue would have been virtually the same as the amount generated by repealing the Bush tax cut for people making, or more.
But under the deal, tax rates would have been simplified, with the top rate remaining at the current 35 percent.