Bush gets a tax cut

It’s not as much as he wanted, but Bush is getting a $350 billion tax cut. From the article:

It lowers the top tax rate on dividends and capital gains to 15 percent through 2008 and accelerates scheduled income tax cuts. It also provides tax breaks for businesses to encourage investment in new equipment. The bill also provides for checks of up to $400 per child to be issued in 2003.

Interesting. We have a child “to be issued in 2003” 🙂

So, they didn’t succeed in eliminating capital gains, just reducing it. Despite the fact that they shrunk the cut to $350 billion, it still doesn’t seem wise when we’re running deficits.