Clark says he would roll back Bush's tax cuts for the wealthy, but he's not revealing which taxes
NEDRA PICKLER, Associated Press Writer Wednesday, October 22, 2003
(10-22) 03:23 PDT MANCHESTER, N.H. (AP) --
Democrat Wesley Clark says that if he is elected to the White House, he would roll back President Bush'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, John Edwards and Joe Lieberman. They say some of the tax cuts have benefited the middle class and should not be repealed. The opposing view from Howard Dean and Dick Gephardt is that all of Bush's tax cuts must be repealed to pay for health care and other priorities. (snip/...)
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