Economic and social consequences of the economic reform introduced by George W. Bush

Social and economic results of the tax reform implemented by George W. Bush administration were analyzed. First, the authors described two stages of that process in 2001 and 2003. Then tables with tax rates cross taxpayers categories were presented. They showed also points and arguments of supporters and opponents of the reform. From the republican point of view main goal of the tax exemptions was strict economic i.e. acceleration of the growth and increase of the tax revenues in the longer run. Reform opponents and democratic experts maintained that it serves interests of the rich, decrease tax revenues with cuts in social spending and in effect social inequality grows up. They use official and other sources of data for their analysis.