The Congressional Budget Offide (CBO) report produced at the request of Congressional Democrats confirms that tax cuts since 2001 increased the share of federal income taxes paid by the highest earners while decreasing the tax share of lower- and middle-income groups. The CBO analysis, Effective Tax Rates Under Current Law, 2001 to 2014, shows that the income tax remains highly progressive, with the top 5 percent of earners paying more than half of all federal income taxes.
Americans For Tax Reform issued the following report on August 13,2004.
In a speech yesterday, Kerry told his audience that he plans to follow Clinton’s model and do, “the same thing that we set out to do in 1993, and I was there and I voted for it, I know how we did it.”
They “did it” with the largest tax increase in American history.
On July 31, 2003, Kerry claimed on MSNBC’s Hardball that "We Democrats…balanced the budget…without raising taxes on middle class Americans." Kerry’s claim contradicts his 1993 speech on the floor of the Senate, when he said, “I wish that we did not need to raise taxes (on the middle class),but …this budget cannot be balanced without increasing taxes.” Kerry apparently has a problem with telling the truth about both his record on tax increases and his intentions to raise them.
John Kerry 's plans are clear; he wants to stick middle class Americans with a huge tax hike.
John Kerry voted twice in 1993 for Bill Clinton’s tax bill, which the late Democratic Senator Daniel Patrick Moynihan (D-NY) called the “biggest tax increase in history.” The legislation hit the middle class hard, increasing the marginal tax rates for those making between $30,000 and $100,000 per year andraising taxes on gasoline and social security. Kerry said that he is “proud to have supported and votedfor (Clinton's) economic plan.”
"John Kerry has repeatedly misled the American People by saying he only wants to raise taxes on the rich,” His latest statement demonstrates Kerry has every intention of implementing an across-the-board tax hike that will impact the middle class and working families nationwide.”
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Hey, nice navbar... I'm going to try to get it on mine too.
ReplyDeleteI guess Kerry (like so many of us who rememeber better times) remembers only the good stuff. This time around, however, after the taxes on everyone were already raised, all he has to do is take back Bush's tax cuts on the wealthy. I'm going to look on the bright side. More people get access to healthcare as a result of Kerry's proposed tax-cut rollback for those who can most afford it. There was an article in Parade (the sunday magazine for NJ's Star Ledger) that talked about young families working hard full time and still not being able to afford the healthcare they need. If our nation has the best doctors and hospitals, we should strive harder to help people get access to it.
Bush's tax cuts pretty much reversed, if not over compensated Clinton's tax raise. However, he still tremendously increased spending and borrowing, so why does that make him better?
I don't think George Bush's plan of giving people tax cuts on money they save to pay for their own healthcare needs will do much to help those who happen not to work a job that provides healthcare.
Yes, Bush did cut taxes and also raised spending. If taxes are cut then spending should be cut, not raised! But the blowhards in DC don't understand the idea of spending less.
ReplyDeleteYou know, I am just not sure Kerry will raise taxes on the middle class. He might, but he does keep claiming he won't. But we know FOR SURE he's going to soak the rich for all they're worth. He'll bring them down to the middle class with his tax hikes. That'll teach them for being rich and successful! Shame on working hard, investing right, and personal responsibility! Right Kerry?