Question about the Bush tax cuts.

[Freedom_from_Chains]

I am always reading about the "Bush tax cuts for the rich," but no one ever says what tax cuts they are talking about.

Does anyone here know exactly which tax cuts have been passed by the Bush administration that only favors the rich. And no I am not a Bush supporter, I have a natural dislike for theocratic/fascists, nor am I trying to start a flame war. I would just like to know what tax cuts we are talking about.

[tk2kewl]

1. the percentage for the top tax bracket was dropped

capital gains tax was dropped from 20 to 15%
inheritance tax was dropped

[chelsea0011]

2. He simply lowered the tax so upper brackets would receive larger

gains.

[unblock]

3. most notable were the income tax rate reductions

the top earners got a 6% reduction on an unlimited amount of their income, plus the maximum accumulated benefits from the lower bracket reductions.

meanwhile, the lower earners got lesser reductions on smaller portions of their incomes.

the bottom line is that a huge portion of this deficit-ballooning giveaway went to the filthy rich at a time when the economy was suffering from an excess of capital.

[papau]

4. Of the 3 tax cuts none "only favored the rich" - but the decrease in

tax both as to percentage and in dollar amount went 90% to the rich.

[snippy]

5. I agree as to income tax cuts, particularly concerning

dividend and capital gain income. However, the reduction and elimination of the estate tax favored only the rich.

[papau]

6. true :-(

:-(

[Freedom_from_Chains]

7. Thanks for everyone's imput, it has been very helpful. n/t