Obama Vs. Bush In Terms Of Tax Cutting

By Author: James Calderon
Total Articles: 69
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People often compare Obama vs. bush when they are referring to tax cutting. It would appear that Bush has had more tax cuts during his administration that they tend to favor Bush more than President Obama when it comes to tax cuts. People cannot be blamed for the assumptions and preferences particularly if they have been benefited by Bush tax cuts. And if you are not into politics too much, then you would just consider the truth that Obama had actually involved expiration of some of the tax cuts given by Bush. However, if you will analyze all the facts concerning the tax cuts, you'll actually understand that Obama is a bigger tax cutter than Bush.

Evidently, both of the presidents were big tax cutters and they differed only on how they were capable of tackle the tax cuts. While the tax cuts of president bush were massive, they were only targeted for the rich people and mostly the wealthiest 25 percent in the US enjoyed the advantages of those tax cuts. The tax cuts under the Obama administration were more favorable for the whole country and not specifically for a few percentage of the population.

An analysis of ...
... the facts will reveal that Obama has really involved the expiration of the tax cuts under the Bush administration but has signed more tax cuts that are favorable to each American. As a result of the tax cuts made through the Bush administration from 2001 to 2003, the revenue of the US government was reduced to $2.4 trillion dollars. In ten years time, this can be considered to be quite an enormous amount for the US. Under the Obama administration two major tax cuts have been signed into law and has taken effect. The tax cuts has been of great benefit not only to a few but the whole American population. The tax cuts that have benefited every household of the US were enacted under the American Recovery and Reinforcement Acts. The tax cuts included the Making Work Pay tax credit that actually reduced the income tax bill of a family by $800. It cannot be denied that this tax was a very big achievement as it's provided benefits for the working class comprising a larger part of the American population. Obama also signed in the December 2012 deal, in which there were many other tax reductions. The new tax deal signed by Obama paved the way for that extension of the Bush tax reductions for another two years. In two years time, the Obama administration was able to scale back the taxes by $654 billion.

Above all, president Obama is longing for close the budget deficit by increasing the tax revenue. However, these tax cuts will eventually stop as these are only temporary for the recovery program.

As the political season heats up, so will the rhetoric. Many Obama vs Bush comparisons will be made, and people will ask if we are better off with Obama. There will also be questions with the whole "Mitt Romney Taxes" debate (both his own tax returns, as well as his tax policy).