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
Well let's get into the old class warfare again. Let's get the rich…The American people want us to stop spending and so let's just give 'em some certainty and let's extend the tax...existing tax cuts.
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.
[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.
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.
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.
