President Bush will address the Republican National Convention tonight. While he's sure to focus on McCain, he might also mention the beneficial effects of his 2001 tax cuts.

As you might have noticed, this was also a large topic of discussion at the Democratic National Convention last week. A good amount of their speakers said Bush only gave tax cuts to the wealthy.

Not surprisingly, the two sides are at odds over the effects of the tax cuts. Some argue the tax cuts stimulated our economy, helped us recover from 9/11, and kept this current recession from being worse. Others say these cuts are reckless and have led to our growing federal deficit.

While the verdict is still out on the economic impact of the tax cuts, one thing is certain: Bush's tax cuts were not just for the wealthy.

Congress and President Bush cut several different taxes in 2001. The first one helped low- and middle-income citizens by creating a new 10 percent tax bracket. The lowest tax bracket used to be 15 percent, so this reduced taxes for those with the lowest incomes. Bush also increased the child care tax credit and eliminated what's been called the marriage penalty (couples paid more in taxes together than they would've separately).

Bush also passed tax cuts on dividends, capital gains, and the estate tax, which benefits about half of all Americans who now own stocks or bonds. While liberals are wrong in saying that these tax cuts only affect the wealthy, it's true that it does affect the wealthy more. This is simply because they have more money to start with, though, not because the system is rigged.

While many disagree about whether we should've cut taxes or not, these cuts increased everyone's available income. The tax cuts were for all Americans.