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Bush's plan to push the tax burden onto middle-class« Thread

Daily newsbrief journal for September 2004, also see http://www.usdemocrats.com/brief for a global 100-page perpetual brief and follow twitter @usdemocrats


Bush's plan to push the tax burden onto middle-class« Thread

Postby admin » Thu Jan 26, 2012 9:27 am

Bush's plan to push the tax burden onto middle-class« Thread Started on Sept 6, 2004, 7:17pm » --------------------------------------------------------------------------------To: National Desk, Political Reporter U.S.Newswire, 9/6/2004 20:06ADVERTISEMENTContact: Chad Clanton or Phil Singer, 202-464-2800, both of Kerry-Edwards 2004; Web: http://www.johnkerry.com WASHINGTON, Sept. 6 /U.S. Newswire/ -- Following is a release of Kerry-Edwards 2004: George W. Bush is calling for tax reform, pointing to a national sales tax that will raise taxes on the middle class, continuing Bush's plan to push the tax burden onto middle-class families. The national sales tax will increase the cost of everyday goods like milk, gas and clothes. This tax hike will make the cost of middle-class life even more expensive. Kerry spokesman Phil Singer said: ''George W. Bush's idea of simplifying the tax code means levying a national sales tax that would make every trip to the supermarket feel like a visit to H&R Block and every day feel like April 15. John Kerry wants to cut taxes for middle class families so that they can pay college tuition and afford health care. Vote Bush-Cheney for the wrong direction. Vote Kerry-Edwards for a new direction.'' BUSH'S FAILED PLAN FOR MIDDLE-CLASS TAXES: Bush Supporting a National Sales Tax. George W. Bush has joined the chorus of Republicans calling for a national sales tax. As he called for tax reform in his convention speech and on the stump since, Bush joins the calls of Republicans like Speaker Dennis Hastert and House Ways and Means Chair, Bill Thomas. (George W. Bush, 9/2/04) Independent Study Finds National Retail Sales Tax Would Have To Be 60 Percent To Cover All Federal Taxes. Brookings Economist William Gale writes, ''To replace all federal taxes on a revenue-neutral basis over the next 10 years would require a sales tax rate of about 60 percent.'' To cover just income taxes, the national sales tax would have to be at least 26 percent. (William Gale, ''A Note on the Required Tax Rate in a National Retail Sales Tax,'' 8/12/04) -- Nonpartisan Joint Committee On Taxation Says A 57 Percent National Retail Sales Tax Would Be Required. Congress' non-partisan Joint Committee on Taxation analyzed H.R. 2525 - a national sales tax proposal. They found that it would require a 57 percent tax rate in order to be revenue neutral. (Joint Committee on Taxation, Memorandum, 4/7/2000) BUSH'S FAILED RECORD ON MIDDLE-CLASS TAXES: According To CBO, The Tax Burden Has Shifted To The Middle Class. ''Since 2001, President Bush's tax cuts have shifted federal tax payments from the richest Americans to a wide swath of middle-class families, the Congressional Budget Office has found.'' (Washington Post, ''Tax Burden Shifts to the Middle,'' 8/13/04) From Record Surpluses to Record Deficits. America has gone from a dollar record surplus of $236 billion in 2000 to a dollar record deficit of $422 billion in 2004 - the worse fiscal deterioration in America's history. At the same time, we have seen what former Republican Commerce Secretary Peter Peterson has called a ''$10 trillion'' deterioration in the ten-year budget outlook. (CBO, ''Deficits and Dysfunction,'' New York Times, June 22, 2003.) 1.6 Million Private Sector Jobs Lost - 7 Million Jobs Short Of the President's Projection. Under George Bush, America has lost 1.6 million private sector jobs. Today, America is 7 million jobs short of the projection George Bush made in February 2002 - after 9/11, the tech bubble, and the recession. (BLS and Economic Report of the President, 2002) http://www.usnewswire.com
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