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March 26, 2004
Kerry Embraces Tax Cuts?

John Kerry, trying to tack back to economic issues, issued a promise to create 10 million new jobs over the next four years, using corporate "tax incentives" to promote job growth:

"Today, I'm announcing a new economic plan for America that will put jobs first. We will renew American competitiveness, make tough budget choices, and invest in our future. My pledge -- and my plan -- is for 10 million new jobs in the next four years."

Kerry's Jobs First plan will call for the "most sweeping international tax law reform in forty years" that would give tax incentives to companies that create jobs in the United States.

Kerry has spent most of the past year railing against the Bush tax cuts, which have put money back in people's pockets, and has already committed to rolling back a portion of them, especially those he's decried as "corporate welfare". Now he claims that tax cuts, which is what tax incentives are in practice (increased deductions and exemptions), will improve the economy. I'd like to agree with Kerry, but I don't know with which Kerry I would be agreeing!

Isn't tax reduction for economic expansion the Bush strategy? Did Kerry become a Republican while he was in Idaho?

Targeted tax "incentives" are a pretty good idea. In fact, they're so good, one is tempted to ask Kerry why he never proposed them during his nineteen years in the Senate. It's not as if Kerry has been outside of power over the last three decades; legislation can be initiated in either house of Congress, and in fact can only be initiated by either house of Congress. Presidents don't directly propose legislation -- they have to work through their party to have it introduced. So what's Kerry been doing over the past nineteen years? Voting to increase everyone's taxes:

# 1989-90: Votes against considering a capitol gains tax cut.

# 1993-94: Votes against spending reductions an amendment to reduce budget spending by $94 billion. Votes for the largest tax increase in American history.

# 1995-96: Votes against balancing the budget a bipartisan plan to balance the books in seven years.

# 1997-98: Votes against approving a GOP budget to cut spending and taxes. Votes against a balanced-budget constitutional amendment.

# 1999-2000: Votes against reducing federal taxes by $792 billion over 10 years.

# 2001: Votes against the Bush tax cut a $1.35 trillion tax cut package to reduce income-tax rates, alleviate the marriage penalty and gradually repeal the estate tax. Votes to reduce Bushs proposed tax cut ceiling by $448 billion over 10 years.

Then in April of 2002, Kerry doubles back on himself, calling for a tax cut even larger than the one passed in 2001, telling CNNs "Crossfire":

Its not a question of courage. ... And its not an issue right now. We passed appropriately a tax cut as a stimulus, some $40 billion. Many of us thought it should have even maybe been a little bit larger this last year. ... [T]he next tax cut doesnt take effect until 2004. If we can grow the economy enough between now and then, if we have sensible policies in place and make good choices, who knows what our choices will be. So its simply not a ripe issue right now. And Im not in favor of turning around today and repealing it.

But by December he'd flip-flopped again, telling NBCs Meet the Press that a bigger tax cut doesnt make economic sense.

I'm glad Kerry finally changed his mind about the economic benefits of reduced taxes, but I think I'll trust the man who consistently put that philosophy into practice, instead of the one who seems to say whatever's necessary to get elected.

Sphere It Digg! View blog reactions
Posted by Ed Morrissey at March 26, 2004 5:44 AM

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» John Kerry's Vision For America? from Cranial Cavity
Originally posted by Sean, proprietor of Everything I know is Wrong. It had been a while since checking the John Kerry For President site so he wondered over to see what new policies the good Senator plans for America. When... [Read More]

Tracked on March 26, 2004 6:39 PM

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