Reply #4: Good luck deciphering them. Here's all I know.

[denverbill]

This year, he passed a law reducing the long term capital gains tax rate to 15% (was 20% for the wealthy) and the dividend tax rate to 15%. He also increased the child tax credit. If you have dividends or children you get a break. If you're wealthy, you get an enormous break. Warren Buffett used to pay 38% on dividends from his corporation, which is his biggest source of income. He'll save hundreds of millions next year in taxes.

The 2001 tax break is just bizarre. It is spread over many years. The first year reduced marginal rates, increased the amount of income before taxes start, etc. Every couple years, rates are supposed to be further reduced by a .5% of so. Once again, wealthy people get the biggest percentage cuts, going from a top rate of 38% to 33%. The rest of us generally get about a 2% cut. The last cuts don't take effect for many years.

I don't even know what the hell he passed last year. I can't keep track.