Kerry Would Restore Clinton Era Tax Rates For Top Earners

by Mike Godfrey, Tax-News.com, Washington

12 March 2004

Wealthy Americans would pay the same tax rates as those seen under the Clinton administration, according to plans promoted by Democratic presidential candidate John Kerry this week.

“I intend to return tax fairness to America,” declared Kerry, addressing labor leaders via a video conference from Chicago on Wednesday. He continued: “With George Bush’s tax cuts, the top one percent of taxpayers have received almost forty percent of the breaks. Meanwhile middle class working people have seen their share of the tax burden go up, not down.”

Kerry went on to claim: “If you add up the true costs of this President’s economic policies, you get a Bush Tax of higher property taxes, higher fees, higher health care costs – at the same time middle class incomes are going down.”

He alleged that state and local property taxes have increased in thirty-two states, taking an average of $3,500 in income per year from the pockets of middle class earners.

He continued: “I am going to ask America’s wealthiest people – those making over $200,000 a year – to pay the same fair share they paid under Bill Clinton. Back then the rich got richer – but everyone else did too. By rolling back the Bush tax cuts for the wealthiest among us, we can start to restore fiscal responsibility and invest in education and health care for our people.”

Kerry also maintained his strong anti-offshoring offensive, stating that he wants to shut down loopholes that “force American workers to subsidize sending jobs overseas.”

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