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However, on January 2, President Obama signed the American Taxpayer Relief Act.

Jan 24, The Bush tax cuts (along with some Obama tax cuts) were responsible for just 24 percent. The New York Times stated in an editorial that the full Bush-era tax cuts were the single biggest contributor to the deficit over the past decade, reducing revenues by Estimated Reading Time: 12 mins.

Feb 20, Estate tax (death tax) repeal. The Bush tax cuts phased out the death tax.

Treasury Department and the CBO.

It was supposed to be completely eliminated after However, after being dormant for. Bush tax cuts are the reduced individual income tax rates, the reduction of the marriage penalty (and increase in the marriage bonus), the repeal of the personal exemption phaseout and the limitation on itemized deductions, the reduced tax rates on long-term capital gains and qualified. Dec 19, Repeal Bush's Tax Cut: by Barney Frank.

December 19, vital social programs orleaving the conservatives with a larger national debt with which to argue forsuch spending cuts in the future.

Putting this money into the Social Security andMedicare trust funds has two justifications: First, unlike the"lockbox"concept--and the longer I Author: Barney Frank.

In fact, the real reason he sought asignificant reduction in government revenues was his belief that this was the mosteffective way to reduce the level of government activity.

Oct 23, 36%. 33%. Above, %. 35%. a Based on tax brackets for a married couple inrounded to the nearest 1, The 20tax cuts also phased out the estate tax, repealing it entirely in In addition, the tax cuts included three components that are often referred to as “middle-class” tax treefalling.buzzted Reading Time: 11 mins. May 04, The Bush tax cuts for the wealthy, by contrast, only affect how much of a firm's total profit owners keep for themselves.

"The economic premise, that people won’t hire because they might have to pay more taxes if they make more money, is beyond laughable” says Lew Prince, owner of the Vintage Vinyl record store in St. Louis, Mo.