re: #453 drcordell

Over one third of the entire stimulus plan was comprised of tax cuts. Billions upon billions of dollars of tax cuts.

Please stop calling them tax cuts. The tax rates were not actually cut. The ARRA of 2009 created a whole series of tax exemptions, credits, and deductions. Those are not tax cuts. It means that for those who cannot take those exemptions, credits, or deductions, their tax rate was not changed. Even in the case of the AMT, it was an inflation adjustment to increase the threshold of those who would have to pay AMT (but the AMT rate itself was unchanged).

A taxpayer may see that their tax bill was reduced as a result if they were able to take advantage of the tax credits, exemptions, or deductions. But that’s not the same as a tax cut.

The last tax cuts were part of the 2001 and 2003 tax acts.