Chart: Marginal Tax Rates

The changes in the income tax rates that took effect in 2001 and 2003 are referred to as the "Bush tax cuts," and you'll find more than one million results for a Google search of the phrase 'Bush Tax Cuts.'  Certainly, compared to the "Clinton tax hikes" that took effect in 1993 and raised the top marginal income rate to 39.6%, the reductions of the top tax rate to 38.6% in 2002 and 35% in 2003 were "tax cuts" (see chart above).