I always seem to want to through an extra E into Clark's name. Anyway today we are looking at what the Democratic Candidates plan to do about the Bush tax Cuts.
This is from a speech Clark gave in Nashua, NH on January 5, 2004.
"The week I announced my candidacy, I said that reforming America's tax system would be one of my top priorities. And I promised that I would create a new system with real tax reform that was simpler, fairer, more progressive, and more pro-growth and I'd do it all without increasing the deficit one dime.
My sweeping tax reform plan meets every one of these values. It's called "Families First." Because that's exactly what it does. It will overhaul our tax system so that all Americans pay their fair share. It will reduce poverty. It will encourage families to work and save, so we can be a richer, more prosperous nation. And it will do all this while protecting our most pressing priorities - education, health care, and national security.
First, as I said before, families of four making under $50,000 a year will stop paying income taxes altogether. They will literally not owe a single penny in income taxes to the United States government.
. . . Second, my tax reform plan will give a tax cut to all taxpaying families with children making under $100,000, because all working families are being squeezed by George W. Bush's economy.
Third, my tax reform plan will reward work by building on the Earned Income Tax Credit -- helping millions of America's hardest-pressed families. It will help these families go to work by paying for childcare, transportation, and other work-related expenses. As a result, hundreds of thousands of children will be lifted out of poverty.
Finally, my plan will simplify the tax process, eliminating dozens of pages of forms and boiling hundreds of pages of the tax code down to one easy-to-use form. With this new system, you can figure out whether or not you need to pay taxes just by filling out three lines."
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