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
Apparently our president thinks that living in America is so wonderful that we will never leave, despite being directly attacked and held responsible for the political class’s inability to constrain its desire to buy votes with our money. He should think again.
The GOP has two primary motivations. The first concerns the pain that tax increases threaten to inflict on our economy over the short term. The second is to stop the slide under our current leadership towards becoming a stagnant European-style welfare state with limited individual opportunity and entrepreneurship.
I hate to tell you, by Washington's definitions that [Melancon]'s using, virtually everybody in this audience is the wealthy.
It's idiotic to think about increasing taxes at a time like this….this is going to result in the largest tax increase in U.S. history. And again, it's idiotic….But Democrats are poised now to cause this largest tax increase in U.S. history. It's a tax increase of $3.8 trillion over the next 10 years, and it will have an effect on every single American who pays an income tax. Small businesses especially will be hit hardest....
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.
