http://www.johnkerry.com/pressroom/releases/pr_2004_0823a.html“On a day when millions of Americans will lose overtime protections, George W. Bush is falsely attacking John Kerry to cover up the fact that the Bush tax cuts have hurt working families, placing an even greater tax burden on them. The bottom line is that George Bush is out of credibility, and the American people just won’t believe his attacks. John Kerry wants to reduce taxes on 98% of all Americans and 99% of all businesses. He’s fought for middle class tax cuts his entire career. Bush and Cheney, however, can’t come close to making the same claim,” Kerry spokesman Phil Singer.
BUSH’S SALES TAX = 60% HIKE IN SALES TAX ON FAMILIES
Bush Has Refused to Rule Out a National Sales Tax After Expressing Support for It . In response to a question during a campaign event about instituting a national sales tax, Bush said it was an “interesting idea” that “we ought to explore seriously.” When asked about the exchange on Larry King, Bush refused to rule it out, restating that it was, “an interesting idea.” (Bush in Niceville, FL, 8/126/04; CNN, “Larry King,” 8/15/04)
Independent Study Finds National Retail Sales Tax Would Have to be 60% to Cover All Federal Taxes . Brookings Economist William Gale writes, “To replace all federal taxes on a revenue-neutral basis over the next 10 years would require a sales tax rate of about 60 percent.” (William Gale, “A Note on the Required Tax Rate in a National Retail Sales Tax,” 8/12/04)
Nonpartisan Joint Committee on Taxation Says A 57% National Retail Sales Tax Would Be Required . Congress’ non-partisan Joint Committee on Taxation analyzed H.R. 2525 – a national sales tax proposal. They found that it would require a 57 percent tax rate in order to be revenue neutral. (Joint Committee on Taxation, Memorandum, 4/7/2000)
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