Kerry's Rhetoric does NOT match his 'Plan'

According to experts, Kerry’s Tax Plan will slow recovery, create fewer jobs and raise deficits. Many believe Kerry’s ‘plan’ to “restore the top two tax rates to their levels under President Clinton.” will effect a lot more people than he claims.

While John Kerry runs around the country saying he will raise the taxes of those who make more than $200,000/yr. he is leaving out many of the details found on his own website.
He reminds people all the time to just go visit to see his plans for everything. How many actually do? Is he counting on the fact that some won't actually look because if he says it is in 'black and white' that is good enough for them? 'Gee...if he says we can go look at his plan he must be telling us the truth.'

Following are quotes from some who have actually taken the time to figure out what Kerry's Tax Plan and Bush's Tax Plan really mean for everyone.

Kerry’s tax plan means hikes for more people than he claims

"THE FINAL two Presidential debates have given Americans a clear picture of John Kerry’s tax vision. It’s not pretty. For starters, Kerry’s statements and campaign manifesto undermine his pledge not to raise taxes on those who earn less than $200,000. This alone should warn voters that, for Kerry, tax hikes are not a last resort, but a first response. .....

“If you restore those top two tax levels,” Varney said, “lots of people who make well under $200,000 a year would, in fact, have their taxes raised under the John Kerry plan.”

"For instance, Varney calculates that for married couples filing jointly, the tax rate would rise from 33 percent to 35 percent above $178,651.

For heads of households, the 33 percent rate would grow to 35 percent above $162,701.

For married couples filing separately, the 35 percent rate increases to 39.6 percent above $159,550.

Single filers would move from 33 percent to 35 percent above $146,751.

And for married couples filing separately, the 33 percent rate would increase to 35 percent above $89,326.
Thanks to his words and Web site, Kerry’s week-old tax pledge already is ablaze. Americans who earn as little as $89,327 can expect federal tax hikes. This should surprise no one. Through his 20-year Senate career, Kerry has been one of the tax man’s best friends. "

The Heritage Foundation: Taxes
The following are quotes from The Heritage Foundation on the Tax Plans.

"Both candidates have proposed additional changes in current tax law that reflect their views of how the 2001 and 2003 tax cuts affected the economy and federal finances. This report joins the debate over current economic policy by estimating how each candidate’s tax proposal would affect the economy and the government’s finances. This report finds that:

*The Kerry tax plan slows economic activity until 2011, when it generally adopts the Bush approach of permanent tax cuts. Even so, the Bush plan consistently outperforms the Kerry plan.
*The two plans reflect sharply different approaches to tax policy: President Bush relies on supply-side tax changes while Senator Kerry focuses much of his attention on demand-side policy moves.
*Senator Kerry’s greater reliance on targeted tax policy changes yields the unintended consequence of producing a tax cut for high-income taxpayers after 2011."

"Basic Findings"

Analysis of Bush Plan:
"Stronger job growth under the Bush plan."
"Stronger economic growth under the Bush tax proposal. "
"More spending money after taxes under the Bush plan."

Analysis of Kerry Plan:
"Negligible impact during 2005-2010.
The Kerry plan slows the U.S. economy, principally in employment and capital growth, and does nothing to improve GDP. "
"Large impact after 2010.:
The Kerry plan would make many elements of JGTRRA and EGTRRA tax cuts permanent rather than let them expire during 2009ñ2011, thus extending some aggregate supply-side benefits of lower marginal rates on labor and capital income."
"Employment seesaws. :
Employment surges after 2011 due to the factors discussed above, but the Kerry plan reduces potential employment growth in prior years."
"Expanding budget deficit.:
The Kerry plan cuts tax revenue and results in a $637.8 billion increase in publicly held debt over the period 2005 through 2014."

Maybe in my search I simply asked the wrong question but I did not find strong support for the 'Kerry Tax Plan'.
It would effect my family in a negative way and our income is less than half of his promise to raise taxes on just those who make more than $200,000/yr.

Posted by Dawn at October 21, 2004 1:47 PM