From a Op-Ed he wrote in the Greenville News, January 12, 2004.
"I'm the only Democrat in this race to offer a broad middle-class tax cut -- for 98 percent of taxpayers. In South Carolina, that would mean a tax cut for more than 1.3 million middle-class families -- and the vast majority of the state's small businesses.
The difference between Howard Dean's tax hikes and my tax cuts adds up to more than $2,200 a year for the average South Carolina family of four. That's $800 more than the average annual family health insurance premium."
Second the specifics of his plan from his website.
First, he will keep in place the middle class tax cuts included in the Bush tax cuts some of which were included only because Democrats fought for them--such as the increase in the child tax credit and the elimination of the marriage penalty.
Second, to make the system better balanced, he will:
- Restructure the income tax brackets in a systematic way
- Reset the top two income tax rates that George W. Bush decreased
- Lower the middle two rates for middle class families
- Expand the Earned Income Tax Credit for low-income families
- Repeal the dividend tax cut that Bush pushed for
- Reform the estate tax that Bush repealed
- Eliminate wasteful corporate loopholes and subsidies that Bush has protected
- Add a special "recapture" bracket for the highest income taxpayers that will recoup the benefits of the lower rates.
As a result, about 98 percent of all taxpayers will get a tax cut as well three-quarters of all small business owners.
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