Bushs Tax Reform

A detailed Summary of Bushs Tax Reform

Tax Relief Plan, how much of a gamble is it?

Some of the dynamics of Pres. Bush's tax relief are as follows: Replacing the current tax rates with a simplified rate structure; Doubling the child tax credit to one thousand dollars per child and applying the credit to the Alternative Minimum Tax (AMT); Reducing the marriage penalty by reinstating the ten percent deduction for two-earner couples; Eliminating the death tax; Expanding the charitable deduction to non-itemizers; Also making the Research and Experimentation (R&D) Tax credit permanent. President Bush comments on his proposal "My tax plan is not just about productivity, it is about people... A tax plan must apply market principles to the public interest... to make life better for the average men, women and children." (See Graph 1a, for details)

An interest group in favor of the president's plan is Americans for Tax Reform (ATR), their mission statement states "The government's power to control one's life derives from its power to tax. We believe that power should be minimized." ATR has lobbied and gained the support of

two hundred U.S. Representatives and forty-one U.S. Senator

estates worth $20 million in 1997 (Brookings, The Washington Post, IRS).

Some common words found in the essay are:
Reform ATR, Relief Plan, Joint Filing, Product GDP, Head Household, Single Single, President Bush, Pres Bush's, Pres Bush, AMT Reducing, estate tax, tax relief, tax relief plan, relief plan, bush's tax relief, bush's tax, $297350 -- 396%, $297350 --, 33% $297350, tax plan, -- 33% $297350, trickle theory, 33% $297350 --, -- 396%, -- 33%,

Approximate Word count = 794
Approximate Pages = 3 (250 words per page double spaced)

Category: Politics

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