Why George W. Bush must be smiling - CNN.com: "The tax cuts of 2001 and 2003 provided relief for middle- and upper-income Americas with much of the benefits going toward wealthier citizens, which they argued would accelerate economic growth. The tax cuts reduced rates cross the board on income, dividends and capital gains. They also slashed the estate tax while lowering the tax obligations of married and working poor Americans.
Even though the nation was at war, Republican Rep. Tom DeLay said, 'nothing is more important in the face of war than cutting taxes' -- a far cry from the themes of sacrifice that shaped World War I and World War II.
As the historian James Patterson wrote, 'Well before George W. Bush left office in 2009, he had succeeded in securing major cuts in federal taxes that contributed over time to mounting deficits and rising income inequality. This dramatic turn in fiscal policy was the most significant domestic legacy of his presidency.'"
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