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Bush Exceeds Own 2000 Call for Tax Cuts? need second opinion

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ulTRAX Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-12-04 08:19 PM
Original message
Bush Exceeds Own 2000 Call for Tax Cuts? need second opinion
Edited on Fri Mar-12-04 08:21 PM by ulTRAX
In a 2000 press release the Bush campaign proposed some 460
Billion in tax cuts though his first term. I'm not sure if
Tripod will let you access this document. But it's there.
http://members.tripod.com/~romcache/Bush2000PressRelease.pdf

In a study on revenue effects of tax bills 
http://www.ustreas.gov/offices/tax-policy/library/ota81.pdf
we get the following numbers for Bush's three tax cuts
(current dollars) and tried to array them in the FY in which
each was implemented... not that the board will format them
right.

                       01    02     03     04      05     06
EGTRRA 2001          -34.4 -85.5  -104.0  -103.7 
JCWAA 2002                        -46.0   -27.3    3.8   20.8
JGTRRA 2003 (2003-06)             -41.7   -136.6  -78.0  -8.9


I get a total of 641.5 BILLION tax cuts yet Bush's ORIGINAL
proposal for the same period was 460 billion. 

Has Bush already exceeded his own plan by 200 Billion? If so
it's hard to suggest that correcting that excess is a tax
hike. But I'm nor sure I'm reading the numbers right. 


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ulTRAX Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-13-04 02:10 PM
Response to Original message
1. what I find confusing....

While the tax study at http://www.ustreas.gov/offices/tax-policy/library/ota81.pdf is a great resource... I find it confusing at times. Effects on revenues are show from year one through 4... what happens after that is not clear. Also, in the case of the 2001 tax cut... EGTRRA... there's no indication whether it started in FY02. I put it in FY01 because it was that summer the tax rebates went out.

In the case of the other tax bills I placed the implementation date in the next FY.

Any feedback or other insights on how to read these numbers would be appreciated.

IF IF IF it can be demonstrated that Bush not only broke his word on protecting SS first... and that tax cuts were secondary... all justified only because there was a surplus.... then he also exceeded his own tax cut proposal... then it's a damning indictment against him.


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