Bush Signs JGTRRA - Dividend and Capital Gains Rates Slashed to 15%, Massively Favoring Investment Income Over Wages

On May 28, 2003, President George W. Bush signed the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) into law, completing the second phase of the Bush tax cuts and fundamentally restructuring taxation to favor investment income over wages. The legislation reduced the long-term capital gains …