Clark's Tax Reform- LATimes Lists ALL Candidates' Tax Plans

[KittyWampus]

This was published in LA Times today (Tuesday) and is helpful as it includes ALL the candidates plans for comparison.
Moderators- The Tax Information about all candidates appeared in seperate box on page.


By Eric Slater, Times Staff Writer


NASHUA, N.H.—Retired Gen. Wesley K. Clark on Monday unveiled the most sweeping tax-reform plan of any of the Democratic presidential hopefuls, a plan he said would dramatically simplify tax returns and benefit 31 million families without increasing the budget deficit. - snip - His proposal is a decidedly liberal approach, as well as one that clearly sets him apart from the Democratic front-runner, Howard Dean, whose call for repealing all of President Bush's tax cuts has been attacked by rivals as hurtful to the middle class.

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The Democratic presidential candidates' proposals for taxes:

Carol Moseley Braun

Supports rolling back President Bush's tax cuts that help the wealthiest Americans.

Wesley K. Clark

Would eradicate taxes for families making $50,000 or less with two or more children. Plans to raise taxes on the top 0.1% — those who make $1 million or more — by 5 percentage points. Would give a flat, $250-per-child tax credit. Supports closing corporate tax loopholes.

Howard Dean

Wants to abolish Bush's tax cuts. Hopes to end corporate tax loopholes and eliminate tax shelters. Would boost Internal Revenue Service resources to help the organization collect billions of dollars in back taxes.

John Edwards

Would repeal the Bush tax cuts that aid the wealthiest 2% of Americans. Wants to limit the top rate on capital gains to 25% for those earning $350,000 or more. Advocates tightening corporate tax regulations.

Dick Gephardt

Would repeal Bush's tax cuts entirely, using the revenue to pay for his wide-ranging health-care plan, which would cost $2 trillion over 10 years.

John F. Kerry

Would create a tax-relief fund of $50 billion for states over two years to end college tuition increases and help cover health-care expenses. Plans to preserve and expand middle-class tax cuts approved by Bush, including the child tax credit and the reduced marriage penalty, while abolishing tax cuts to those who make more than $200,000. Supports a crackdown on corporate tax breaks.

Dennis J. Kucinich

Introduced the Progressive Tax Act of 2003 in Congress, to give $87 billion to working families and collect $107 billion from Bush tax cuts and corporate "giveaways." The bill includes a $1,530 payroll tax credit and a $2,000 family credit to consolidate different child tax credits.

Joe Lieberman

Would preserve middle-class tax breaks but favors reorganizing the income-tax brackets and expanding tax credits for low-income families. The restructuring would raise taxes for those making $200,000 and above, plus repeal the dividend tax and reform the estate tax. Also supports eliminating corporate subsidies backed by Bush.

Al Sharpton

Advocates repealing the Bush tax cuts in full.

[windansea]

1. thanks...

:thumbsup:

[HFishbine]

2. They got it quite wrong

On Clark's plan: "Would eradicate taxes for families making $50,000 or less with two or more children."

Payroll taxes?

[KittyWampus]

3. Only Dennis Addresses Payroll Taxes- I Think

may have read incorrectly

[maddezmom]

4. is there a link?

or was it only in the paper. :)

[KittyWampus]

5. Sorry, Forgot Link. There's An Entire Article.

http://www.latimes.com/news/politics/la-na-clark6jan06,1,1854649.story?coll=la-home-politics

It was interesting to see the info on all candidates at once. :)

[maddezmom]

6. thanks :)