We analyzed social and economic results of the tax reform implemented by George W. Bush administration. First we described two stages of that process in 2001 and 2003. Then tables with tax rates cross taxpayers categories were presented. We showed also points and arguments of supporters and opponents of the reform. From the republican point of view main goal of the tax exemptions was strict economic i.e. accelerating growth of the economy and increasing of the tax revenues in the longer run. Reform opponents and democratic experts maintained that it serves interests of the rich, decrease tax revenues with cuts in social spending and grows up of the social inequality. We use official and other sources of data.