Mythical Tax Cuts
John Kerry says, "When John Kerry is president, middle-class taxes will go down. Ninety-eight percent of all Americans and 99 percent of American businesses will get a tax cut under the Kerry-Edwards plan."
First, let's be clear about what this actually means: the 98 percent getting a tax cut refers to keeping taxes exactly where they are, by extending the existing tax cuts. So he's using "cut" very loosely, at best.
Second, most of the cuts were just extended by Congress, and are not set to expire any time soon. The marriage penalty relief, the tax rate and bracket changes, the child tax credit increase, are all through 2010. So even if you could consider an extension of a cut to be a cut, the cuts are already extended through his potential first term in office, and beyond. Maybe he is making promises for a second term already? I wouldn't count on it.
Third, the middle class taxes will not go down. They will stay the same for almost everyone. He does want to give some tax cuts for health care and education expenses, but these affect only a minority of people, not "the middle class," let alone 98 percent of Americans.
Don't believe the hype. He has no plan to cut taxes for the middle class, let along 98 percent of Americans. It simply isn't true.
First, let's be clear about what this actually means: the 98 percent getting a tax cut refers to keeping taxes exactly where they are, by extending the existing tax cuts. So he's using "cut" very loosely, at best.
Second, most of the cuts were just extended by Congress, and are not set to expire any time soon. The marriage penalty relief, the tax rate and bracket changes, the child tax credit increase, are all through 2010. So even if you could consider an extension of a cut to be a cut, the cuts are already extended through his potential first term in office, and beyond. Maybe he is making promises for a second term already? I wouldn't count on it.
Third, the middle class taxes will not go down. They will stay the same for almost everyone. He does want to give some tax cuts for health care and education expenses, but these affect only a minority of people, not "the middle class," let alone 98 percent of Americans.
Don't believe the hype. He has no plan to cut taxes for the middle class, let along 98 percent of Americans. It simply isn't true.
"It is the common fate of the indolent to see their rights become a prey to the active. The condition upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime and the punishment of his guilt."
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