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
[Obama tax proposal is] a bullet in the head for an awful lot of people that are going to be laid off and an awful lot of people who are hoping to get their jobs back.
This is the largest tax increase in American history….the looming tax hike will make it harder for small businesses to keep their doors open. These are not only the people who create jobs, but not only that, they represent the spirit of America.
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.
[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.
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.
