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What is the best way to cut the Bus Power?
Just isolate the + contact on the USB connector. Use an adhesive tape or a paper adhesive label.
Warning: some hubs *always* power the logic from the USB bus and only use the external power to feed the attached devices. This is usually accomplished by using a diode between the +5V contact of the USB connector and the +5V contact of the external power connector. If this is your case, you can just remove the diode and replace it with a wire connection. Then you can isolate the +5V on the USB connector as mentioned previously.
If you do this, also disconnect the ACPI. Then you can put the computer to sleep automatically after the USB hub disappears and have it awaken automatically when the hub power has been re-applied.