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» The Ornery American Forum » General Comments » Kerry says, "I'm going to give you a tax cut"

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Author Topic: Kerry says, "I'm going to give you a tax cut"
ATW
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Kerry's new line to the middle class is "I'm going to give you a tax cut".

Now Kerry's saying that in the context of repealing the Bush tax cut on people who make more than $200,000 per year. But he's really hitting the "I'm going to give you a tax cut" line hard.

Now from reading Kerry's website, he's not proposing a middle class tax cut and I'm wanting to get the story straight.

Is Kerry talking about not repealing Bush's middle class tax cut as being Kerry's "I'm going to give you a tax cut"?

Or does Kerry have a real middle class tax cut out there somewhere that I've not heard the details of? (and if it exists, I'd greatly appreciate a url if you have it so I can read the details)

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Naldiin
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Kerry is going to give us a tax cut? How does that work with his constant whinning about the federal debt? I smell voodoo economics...
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Everard
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http://www.johnkerry.com/issues/economy/ download the pdf file.
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Zyne
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Huh, this is the first time I'd really looked at Kerry's proposals. I generally like it: The bulk of the money is made up by taxing overseas operations of US companies and very wealthy individuals, while a large part of the money is spent encouraging investment and job creation at home.

A pro-American-worker tax plan. Who would have thought! [Big Grin]

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WarrsawPact
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It's so mercantilist it *almost* makes sense!
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Van Aaron
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If you jack up taxes on overseas operations of American companies, they will respond by spinning them off into foreign entities that our tax laws can't reach. It's all part of Kerry's master plan to wreck our economy through protectionism. (Luckily, none of it would get through Congress anyway.)
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canadian
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That's so patriotic.
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Snowden
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quote:
If you jack up taxes on overseas operations of American companies, they will respond by spinning them off into foreign entities that our tax laws can't reach.
Doesn't that depend on the tax burden and benefits of those respective nations? I can imagine that it would still in the best interests of that company, on penalty of losing the benefits that come along with doing business with the US, to remain US companies. Unless, of course, the demand for such and such product is high in the host nation, while the tax burden is low, and this company doesn't have any US subsidiaries we could gouge.

[ October 12, 2004, 09:15 PM: Message edited by: Snowden ]

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Zyne
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Very few corporations operate directly abroad; an American corporation will typically use a foreign-organized entity for foreign operations, sometimes with several companies in between, organized in various places.

We can tax the foreign activities of a US company's foreign subsidiary if, when and how our laws say we can. We tax some of that now.

IMO the major problem with Kerry's plan is codifying the economic substance doctrine, because once that's done then the tax bar has a(nother) bright line law that they can dance on without stepping over. Hopefully, someone'll talk him out of it.

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