Jobs and Growth Tax Relief Reconciliation Act of 2003
The Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003 expedited the 2001 Bush tax cuts, making them apply retroactively to the 2003 tax year (originally they were meant to go into effect in 2006). JGTRRA further reduced the capitol gains tax and altered the exemption amount for the Alternative Minimum Tax.
Cry Wolf Quotes
Most economists believe that they [rich people] would spend the money and stimulate the economy.
The Obama Tax Plan Would Eliminate Hundreds of Thousands of Jobs Each Year….In other words, for Americans who are unemployed now, their prospects of employment would worsen under the Obama tax plan.
[The rich are] the people who've been hit hardest by this recession and who we need to create the jobs that will get us out of it.
I hate to tell you, by Washington's definitions that [Melancon]'s using, virtually everybody in this audience is the wealthy.
Evidence
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Tax Cuts on the Rich Don't Spur Economic Growth
The Center for American Progress takes apart supply side myths.
