More "tax cuts for the rich," please
Looks like this benefited a lot more than just the infamous "top two percent."
The 2003 cuts in both dividend and capital-gains tax rates was a substantial boost for the stock market and corporate boardrooms. The Dow Jones Industrial Average is up 32% since Dec. 31, 2002, one week before President Bush announced the 2003 tax cuts. The S&P 500 large-cap index is up 47%. Mid-caps are up 79%, and small-caps up 81%.Overall, the value of U.S. equities increased $6 trillion (up 50% from $11.9 trillion to $17.9 trillion on Sept. 30, 2005) since the dividend tax cut first appeared in the headlines. Household net worth increased $12.1 trillion to $51.1 trillion over the same period, an increase of $40,631 for every person in America. These gains accrue to the 91 million Americans who own shares of stock directly or through mutual funds, and to more than 80 million private and government workers through their pension funds. Growth, profits, and investment spending also grew, and we have created 4.4 million jobs. Tax cuts were a major factor in producing these gains.