I have not yet taken the time to look at the tax cut in detail. What I have read indicates there will be a $300 refund to single people who filed 2000 taxes, a $500 refund to single parents and a $600 refund for married couples. There is an increase in credit for education anf a cut in the estate tax. There is also a gradula increase in the contribution to IRA's and I believe 401k's. The other biggest piece of this is a reduction in the tax rate for the HIGHEST tax bracket. That is the aspect of he plan that concerns me. Okay so everyone gets a little cas back this year. Next year the cut would be a cut for that tax bracket. The education credit will hel[ middle class aprents. But the estate tax cut and the cut in the highest tax bracket does not seemingly serve serve the larger American population.
Anyone out there more versed on this tax cut?
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