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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (341606)	1/10/2003 5:20:26 PM
From: American Spirit	Read Replies (1) \| Respond to of 769670

Kerry Calls for Payroll Tax Relief, Foundation for Economic Growth "Today's speech by the President is just more evidence that he doesn't understand what ails our slumping economy and refuses to do the things that will put Americans back to work. While largely ignoring the needs of the middle class, the President is practicing bad economics and even worse ideological class warfare. He's speaking the rhetoric working Americans are so eager to hear, but offering only words to distract from his big, new tax breaks for the wealthiest Americans. Why is the President afraid to provide real relief for the workers and consumers who have kept our economy going during tough times and can help jolt the economy back to recovery? Why does the President have so little faith in the workers and small businesspeople who make America strong? If we are serious about stimulating the economy and providing middle-class tax relief, we need a tax cut that puts money in the hands of Americans who will spend it quickly. Without dipping into Social Security, we should provide payroll tax relief because that is where most working Americans pay the bulk of their taxes. Last month, I outlined a fiscally-responsible plan for jump-starting our nation's economy and laying the foundation for long-term growth. My plan includes a payroll tax holiday for an employee's first $10,000 of wages, an idea that would save the average worker $765 this year - $1,530 for a two-earner family. My plan also includes a number of other elements: a one-year job creation tax credit; increases to the minimum wage and earned-income tax credit; relief targeted to critical investments and dividend payments to encourage measuring the real value of companies; and tax deferral for fast-growing small businesses the reinvest the money to create new jobs. With the economy slumping, the Bush Administration needs to join the effort to provide middle class and low income tax relief and get this economy moving again."