posted on March 26, 2004 10:06:26 PM new
WASHINGTON - Democratic presidential candidate John Kerry on Friday unveiled his plan to deal with "Benedict Arnold" companies that he has repeatedly criticized during the campaign for reaping tax benefits while shipping U.S. jobs overseas.
But his proposal to end an estimated $12 billion annually in corporate tax relief is certain to stir stiff opposition from some of America's largest multinational companies who are currently enjoying those breaks. And private economists questioned whether it would do much to halt the hemorrhaging of manufacturing jobs to foreign countries.
Speaking at Wayne State University in Detroit, Kerry said his corporate tax proposal was part of a comprehensive economic plan he will put forward in coming weeks to create 10 million jobs during the first four years of a Kerry administration.
The jobs pledge — and the corporate tax changes — were designed to highlight economic issues where polls consistently have shown President Bush (news - web sites) is vulnerable: an economic recovery where job growth has lagged badly, the loss of more than 3 million manufacturing jobs — one in six — since mid-2000 and rising anxiety among white-collar workers about the increased "outsourcing" of service jobs to foreign countries.
"I won't tell you that we can bring back every lost industry or protect every current job," Kerry said. "But my plan will enable our economy to create jobs and keep more good jobs here in America."
posted on March 26, 2004 10:13:40 PM new
This plan will drive more companies away from the USA as it will simply cost them more to operate here. If the governemt raises the costs to the business, then they either have to raise prices which the consumers will baulk at driving down sales, or they will have to look elsewhere for cheaper labor to keep their products at acceptible prices. The Kerry plan is a failure right from the start.
posted on March 26, 2004 10:23:07 PM new
Stone - did you even bother to read the plan?
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If it's really "common" sense, why do so few people actually have it?
posted on March 26, 2004 11:39:44 PM new
"The non-partisan Congressional Budget Office recently predicted Bush's economic proposals would have only a slight impact on the economy and job creation -- and it could be positive or negative."
"As for the Kerry plan, David Wyss, chief economist for Standard & Poor's, says the sizable gap in wages between the USA and many of its international competitors makes it unlikely that Kerry's tax policy changes would bolster hiring here, even with major changes in the tax code...
Another criticism of Kerry's proposals is that they focus too much on stemming U.S. job losses to lower-cost workers overseas.
Although the 'outsourcing' of U.S. jobs is a potent political issue, most economists say it's only a small part of the U.S. hiring slump."
posted on March 26, 2004 11:45:43 PM new
from USA Today
Bush, Kerry plot courses for jobs
President Bush and Sen. John Kerry take different approaches to a major issue in this year's presidential campaign: how to create more jobs and stop the loss of existing ones.
Tax changes are among their ideas. Here are key elements of their tax plans:
Bush plan:
* Stimulate growth in the economy and jobs by speeding up and extending indefinitely the temporary 2001 and 2003 income-tax cuts.
* Stimulate investment by extending indefinitely the temporary 2003 dividend and capital gains tax cuts.
Kerry plan
* Reduce the cost of doing business in the USA by cutting the corporate income tax from 35% to 33.25%.
* Stem the loss of U.S. jobs to overseas workers by ending tax breaks that make it more appealing to shift operations abroad, and offer a ''corporate tax holiday'' to encourage companies to shift overseas profits to the USA.
* Expand job and health care tax credits for manufacturers and small businesses that hire workers.
posted on March 28, 2004 07:23:14 PM new
After 4 years of the Bush economic plan --- nearly 3 million jobs lost, record gas prices, record deficits, amnesty for illegal immigrants--- what difference does it make what Kerry's plan is ? We could put a baboon in the White House and do as good a job as the retard Bush.
posted on March 29, 2004 03:46:32 PM new
so what does it have to do with tea in wyoming??
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