Tax, Economy, & Politics 101
The Bush tax cuts were brought up in a recent interview with Frank Pastore on KKLA. I also happened to mention them in a previous post about John McCain and Barack Obama’s proposed tax cuts and economic plans.
In order to make the current economic situation easier to understand it is important to review the Bush tax cuts and share some U.S. economy history. The main Bush tax cut act originated in 2001 – it was called the Economic Growth and Tax Relief Reconciliation Act of ‘01. What really emphasized or enforced that was the Jobs and Growth Tax Relief Act of ’03. Taxes paid by millionaire households more than doubled to 274 billion in ‘06 from 136 billion in ‘03 upon the enactment of the ‘03 act.
A central U.S. policy for the last 80 years, called Keynesian economics, is the use of a federal budget deficit to counterattack an economic slowdown. It’s a way to stimulate the economy when things are bad..
The professionals at Tax Resolution Services work hard to remain informed and knowledgeable about issues that can affect your financial situation, including tax-related news and events. This helps us educate and inform our clients on the best possible options for solving their IRS tax problems. If you know someone that needs a tax debt relief action plan, please tell them to call 1-866-IRS-PROBLEMS for their free tax relief consultation.
No related posts.
Tags: bush tax cuts, free tax relief consultation, Keynesian economics, Tax Debt Relief Action plan
