Posted on 05/06/2003 11:45:30 PM PDT by JohnHuang2
Edited on 07/12/2004 4:03:03 PM PDT by Jim Robinson. [history]
As the various factions in Washington maneuver to fashion this year's tax-relief bill, it's worth taking a moment to compare today's economic circumstances with those prevailing when Congress passed President Bush's 10-year, $1.35 trillion tax cut on May 26, 2001. At that time, there were great fears about the bill's impact on the deficit if the various tax cuts in the legislation were allowed to take effect immediately. So, most of the tax cuts were scheduled to be incrementally implemented during the 10-year period, including the income-tax-rate cuts, the child tax credit and the repeal of the marriage penalty.
(Excerpt) Read more at washtimes.com ...
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