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→Economic issues: Tax Cuts - spawned largest increase in total reciepts ever- IRS at all time high
== Economic issues ==
== Economic issues ==
Upon gaining office in 2001, Bush signed into law a $1.35 trillion cut in [[taxation]] over 10 years. The plan included the objectives of doubling the child tax credit from $500 to $1,000, reducing the tax penalty on [[marriage|married couples]] and fully repealing the tax on estates. A [[United States Senate]] Finance Committee Report estimated that with all the planned reductions fully phased in, the average family of four making $50,000 would save $1,825 per year.<ref>[http://archives.cnn.com/2001/ALLPOLITICS/06/07/bush.taxes/ $1.35 trillion tax cut becomes law], CNN, 21 June 2001</ref>
Upon gaining office in 2001, Bush signed into law a $1.35 trillion cut in [[taxation]] over 10 years. The plan included the objectives of doubling the child tax credit from $500 to $1,000, reducing the tax penalty on [[marriage|married couples]] and fully repealing the tax on estates. A [[United States Senate]] Finance Committee Report estimated that with all the planned reductions fully phased in, the average family of four making $50,000 would save $1,825 per year.<ref>[http://archives.cnn.com/2001/ALLPOLITICS/06/07/bush.taxes/ $1.35 trillion tax cut becomes law], CNN, 21 June 2001</ref>
Since the tax cuts, IRS revenues have actually increased from $1.78 Trillion in 2003 to $2.56 Trillion in 2007 with a 46.3% increase of individual income tax receipts. Surging $785 billion since the 2003 investment tax cuts it is the largest four-year revenue increase in U.S. history<ref>http://online.wsj.com/article/SB119189497675953035.html?mod=googlenews_wsj</ref>
Bush has presided over a period of general economic growth. This is partially due to changes in the stock market that lead to a record high in 2007. Corporations show profits growing by double digits growth.<ref>http://www.usatoday.com/money/markets/us/2006-05-08-mart-usat_x.htm</ref> Even the working class is benefiting from the Bush economy, as unemployment hits an all time low in March 2007.<ref>http://news.yahoo.com/s/ap/economy</ref> Bush signed into law a minimum wage increase, one of the platforms for the Democrats in the 2006 Congressional elections, after the House and Senate included Bush's request of provisions for small-business tax breaks.<ref>http://www.washingtonpost.com/wp-dyn/content/article/2006/12/20/AR2006122001784.html</ref><ref>http://www.washingtonpost.com/wp-dyn/content/article/2007/01/10/AR2007011001666.html</ref> Tax policies have been favorable to reducing the Capital Gains Tax, with a subsequent surge in investment.
Bush has presided over a period of general economic growth. This is partially due to changes in the stock market that lead to a record high in 2007. Corporations show profits growing by double digits growth.<ref>http://www.usatoday.com/money/markets/us/2006-05-08-mart-usat_x.htm</ref> Even the working class is benefiting from the Bush economy, as unemployment hits an all time low in March 2007.<ref>http://news.yahoo.com/s/ap/economy</ref> Bush signed into law a minimum wage increase, one of the platforms for the Democrats in the 2006 Congressional elections, after the House and Senate included Bush's request of provisions for small-business tax breaks.<ref>http://www.washingtonpost.com/wp-dyn/content/article/2006/12/20/AR2006122001784.html</ref><ref>http://www.washingtonpost.com/wp-dyn/content/article/2007/01/10/AR2007011001666.html</ref> Tax policies have been favorable to reducing the Capital Gains Tax, with a subsequent surge in investment.