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George W. Bush - Wikipedia, the free encyclopedia (8428 words) |
 | These cuts reduced taxes for almost every taxpayer, including reducing the lowest tax bracket, increasing the child tax credit, and eliminating the so-called "marriage penalty". |
| Arguably, cuts were distributed disproportionately to higher income taxpayers through a decrease in marginal rates, but the change in marginal rates was greater for those of lower income, resulting in an income tax structure that was more progressive overall. |
| The tax cuts, a recession, and significant increases in military and domestic outlays all contributed to record budget deficits. |
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