Fair or Unfair

1 Pages 312 Words

Fair or Unfair : George W. Bush’s Tax Cut Plan

Americans both rich and poor pay portions of their salaries to federal taxes each year. Well it’s time to change the out of date tax plan. President George W. Bush wants to provide federal income tax relief for all taxpaying Americans. President Bush believes that his plan will help jump start the economy.George W. Bush has devised a fair and just way to cut taxes and in some cases eliminate taxs for Americans.
President Bush’s proposal will simplify the tax code. There would be four income tax brackets rather than the five brackets in place now. There would be a ten percent, fifthteen percent, twenty-five percent and thirty-five percent tax brackets. This would allow for six million families, that’s one out of every five families with children to become exempt from paying income taxes completely. Also under Bush’s plan the marriage penalty would be reduced, it will provide incentives to encourage charitable giving, expand tax credit from five-hundred dollars to one-thousand dollars per child and end the estate tax.
This is a fair way to offer tax relief for everyone who pays income taxes and keep the national commitment to social security, debt reduction and other federal programs. The average American family with two children would get an average of one-thousand-six-hundred dollars extra. Working families earning between thirty-five thousand and seventy-five thousand dollars anually will save from six-hundred to three-thousand dollars each year. The new ten percent rate along with the child credit would cut federal marginal tax rates by forty percent on many struggling taxpayers. ( President Bush’s Agenda for Tax Relief, www.whitehouse.gov)
Considering the current economy this is a excellent way to jump start the economy. While returning money to the American people. In closing this is fair and just way to cut taxes for the benefit of the American people....