Clark Says He Would Roll Back Tax Cuts

yahoo ^ | 10/22/03 | NEDRA PICKLER

[finnman69]

MANCHESTER, N.H. - Democrat Wesley Clark (news - web sites) says that if he is elected to the White House, he would roll back President Bush (news - web sites)'s tax cuts for wealthier Americans.

In a speech prepared for delivery Wednesday at the University of New Hampshire's Manchester campus, Clark laid out the principles of an economic plan he said will save $2.35 trillion over 10 years and decrease the deficit.

Clark said people making more than $200,000 a year will be required to pay more taxes than they would under Bush, but he won't reveal details until later. Aides said taxes on income, capital gains, dividends and inheritances are among those on the table. Clark would not rescind any tax cuts going to middle class taxpayers, and the child tax credit would be preserved for parents of any income, aides said.

"Taming the deficit is going to take time, and it's not going to be pain-free," Clark said in text of the speech.

Clark's support for rolling back the Bush tax cuts for wealthier taxpayers enrolls him in the same school as rivals John Kerry (news - web sites), John Edwards and Joe Lieberman (news - web sites). They say some of the tax cuts have benefited the middle class and should not be repealed. The opposing view from Howard Dean (news - web sites) and Dick Gephardt (news - web sites) is that all of Bush's tax cuts must be repealed to pay for health care and other priorities.

Clark said he would use the money saved under his plan to decrease the deficit and spend money on homeland security, health care, financial aid to states and incentives for business to create jobs.

Besides rolling back Bush's tax cuts, which would bring in $1.1 trillion over 10 years, Clark said he would raise $225 billion by streamlining government, $300 billion by closing tax loopholes and $125 billion by spending less on Iraq (news - web sites) than he predicts Bush will in coming years. Clark said he would ask other nations to share the cost of reconstruction.

Clark said a smaller deficit would save $600 billion in projected interest payments

[finnman69]

General Clark joins the class warfare fight.

[Puppage]

Clark Says He Would Roll Back Tax Cuts>

Is that WITH, or WITHOUT the help of his time machine?

[hapy]

clark is a joke!
He is going no where. Another Clinton failure on the way

[Semper Paratus]

Roll back retroactively.

Voice Over: "If your family earned $80,000 last year President Dean will send you a bill for $3000.
For the children.

[areafiftyone]

[LetsRok]

In other words "I'm going to raise your taxes!". Yeah, like that's going to get him elected. The Bush tax cuts are the law of the land. You cannot repeal them. YOu can only pass legislation to raise taxes to offset those not being paid in the current law.

[expatpat]

Yes, but saying he would raise taxes sounds so bad!

[boomop1]

Well he is dead in the water as is anyone else who wants to shoot down tax cuts or roll them back. I want to hear scum bitc* utter those words.

[The Great RJ]

I seem to remember presidential candidate Walter Mondale making the same promise to raise our taxes. Look how far he got with that pledge.

[dc-zoo]

He's going to roll back to Arkansas with his tail between his legs. Two faced bastard.

[delapaz]

yup, now all of the Dems are on record as wanting to raise taxes. Karl Rove: Super-genius.

It's going to be a fun campaign next year

[Russ]

Sorry, General, but you, as president, don't have the power to roll back tax cuts. Only congress can do that and I don't think that will happen no matter who is president.

[doc30]

Wrong. The tax cuts have a sunset provision. If they are not reinstated during the next presidential term, taxes go back to what they were before Bush cut them. In otherwords, do nothing and all the cuts go away on their own. Make sure that, if you want the cuts preserved, you vote for people that will preserve them!

[Russ]

Thanks for the clarification (hanging my head in shame).

[talleyman]

"Clark Says He Would Roll Back Tax Cuts"

Yes, but will he squeeze the Charmin?

[festus]

When will these guys get it. Running on a raising taxes platform simply does not work.

The only reason Albert did as well as he did in the last presidential campaign was he lied that he was going to cut taxes as well.

Keep eggin em on. Run em right into the propeller blades.

[okie01]

Higher Taxes.
Less Defense.

Now, there's an innovative platform for ya...