Explain the Bush Tax Cuts to Me

[durutti]

I'm very confused.

Until recently, I'd thought that Bush got two tax cuts passed -- but a TomPaine.com article is telling me three.

Alright, somebody explain the Bush tax cuts to me. I can't really find anything that explains them comprehensively. What specific measures were involved with the first, second, and third cuts? What was wrong with them?

From what I've read so far, it seems as though the 2001 cut didn't do much for the bottom 60 percent, and that the 2003 cut was just a blatant give-away to the rich.

But I don't understand. When will the 2003 cut be activated? Is it happening concurrently with the 2001 cut? This is all so confusing...

Also, how much of the current 7.2 percent GPD is due to the tax cut? Is that the final figure, or will it later be revised downward?