The Taxonomist.(Brief Article)

MORE TAX CUTS?

Just in case you thought that Democrats won at least a small victory when Congress ostensibly agreed to scale back the 10-year cost of President George W. Bush's tax cut from $1.6 trillion to $1.35 trillion, consider this:

To hit the budget's 10-year target, Senate Finance Committee Chairman Charles Grassley, Republican of Iowa, and ranking Democrat Max Baucus of Montana designed a plan that relies mainly on Slower phase-ins of the tax cuts. Thus, while Bush proposed to make all of his income-tax cuts effective by 2006, under the Senate plan the tax-rate ...

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