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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (13376)	4/8/2004 4:05:18 PM
From: JakeStraw	Respond to of 81568

AS, Why did you just lie? The book is about America's tax system in general!!

To: American Spirit who wrote (13376)	4/8/2004 4:06:44 PM
From: tonto	Respond to of 81568

US Sen Kerry's Tax Plan Draws Quick Criticism 03-26-04 04:25 PM EST WASHINGTON -(Dow Jones)- Sen. John Kerry's tax proposal aimed at halting losses of U.S. jobs to overseas drew quick criticism from Republicans and the U.S. Chamber of Commerce. "Politically motivated tax proposals based on fears of outsourcing will hurt U.S. companies abroad, undermine competitiveness and cost U.S. jobs," said Bruce Josten, the Chamber's executive vice president. House Ways and Means Chairman Bill Thomas, R-Calif., said Kerry's tax proposal represents a reversal from his support, in October 2003, of a Senate tax bill that includes numerous reforms favorable to U.S. multinationals. "Today, the candidate who has locked up the Democrat nomination for the American presidency has flip-flopped and become an economic isolationist," Thomas said in a statement. "Kerry, as the Democrat nominee, has embraced an approach that will hurt American farmers, businesses and workers." The reaction is to Kerry's plan to eliminate deferral of U.S. tax on income earned by foreign subsidiaries on a prospective basis. This is a far-reaching proposal that eliminates the "Subpart F" regime of the international tax code. Deferral will still be allowed for income from production in a foreign country that serves that foreign country, according to a summary of Kerry's plan. Kerry's plan would provide an across-the-broad corporate tax rate cut from 35% to 33.5%. It also would let companies return profits in overseas subsidiaries for one year at a reduced 10% rate. And Kerry would provide a two-year employer tax credit that would cover payroll taxes for new employees; it's aimed at manufacturers, small businesses and industries hit by the outsourcing trend. The Chamber's Josten said that with Kerry's proposal, businesses operating both in the U.S. and overseas would pay higher taxes than companies that operate exclusively inside the U.S. "Pitting U.S. companies against each other is not wise economic policy," said Josten. "And raising the top individual tax bracket across the board - which will hurt millions of small businesses that create most of the new jobs in America - to pay for a targeted tax cut will interrupt our economic recovery." -By Rob Wells, Dow Jones Newswires; 202-862-9272; Rob.Wells@dowjones.com

To: American Spirit who wrote (13376)	4/8/2004 4:33:20 PM
From: Alan Smithee	Read Replies (2) \| Respond to of 81568

Read about the Cheney-Bush tax scam in the new book "Perfectly Legal" about how their tax code rewards billionaires and top CEO's, punishing the middleclass and hoodwinking the upper-middleclass and well-off. You will be stunned. The book is by a top REPUBLICAN tax expert. Kerry has read it and he's making its revelations part of his tax reform position. Uh. I guess I must be mistaken. The current version of the federal tax code is the Internal Revenue Code of 1986 (Title 26, U.S.C.). There have been no major amendments to the IRC during the Bush presidency.