How Kerry Would Change Your Tax Bill
This should open some eyes
Capital Gains Tax
Bush-15%
Kerry- 20%
Dividend Tax
Bush- 15%
Kerry- 40%
Income Tax Rate (Highest)
Bush- 35%
Kerry- 40%
Income Tax Rate (Middle)
Bush-25%
Kerry- 28%
Income Tax Rate (Lowest)
Bush- 10%
Kerry- 15%
Per Child Credit
Bush- $1,000
Kerry- $500
Marriage Penalty Tax
Bush- Eliminated
Kerry- Reinstated
Death Tax in 2010
Bush- 0%
Kerry- 55%
Why listen to Kerry's tax promises, when you can do a Google search and find Kerry's actual tax record? He has voted to raise taxes on the middle-class dozens of times in the Senate. He voted against all of President Bush's tax cuts. That isn't a very taxpayer friendly voting record.
In fact, let's be very specific. Kerry had a chance to cut taxes for people who make less than $200,000 just last year. By choosing not to, Kerry voted to deny meaningful tax relief for the voters he is pursuing. Using Department of Treasury data from the IRS, I recently found that the average middle class family would be paying $1,933 more in federal income taxes this year if Kerry had carried the day and the Bush tax cut had been voted down. There would be no child credit; no reduction in the income tax rates; and no elimination of the marriage penalty tax.
If you own stocks, Kerry really plans to sock it to you. Here he does not even bother to camouflage his plans. The Kerry tax scheme openly promises to raise the death tax rate, the capital gains tax rate, and the dividend tax rate. He would raise the capital gains tax from 15% to 20% and the dividend tax from 15% to 35%. When President Bush cut these taxes on stock ownership, the stock market immediately soared by 15%. Repealing this tax cut will necessarily mean that stock values will fall as the after-tax return falls. This alone could reduce household wealth of the half of all American families who own stocks by $1.5 trillion. So the Kerry plan reduces Americans' incomes and their wealth holdings.
Capital Gains Tax
Bush-15%
Kerry- 20%
Dividend Tax
Bush- 15%
Kerry- 40%
Income Tax Rate (Highest)
Bush- 35%
Kerry- 40%
Income Tax Rate (Middle)
Bush-25%
Kerry- 28%
Income Tax Rate (Lowest)
Bush- 10%
Kerry- 15%
Per Child Credit
Bush- $1,000
Kerry- $500
Marriage Penalty Tax
Bush- Eliminated
Kerry- Reinstated
Death Tax in 2010
Bush- 0%
Kerry- 55%
Why listen to Kerry's tax promises, when you can do a Google search and find Kerry's actual tax record? He has voted to raise taxes on the middle-class dozens of times in the Senate. He voted against all of President Bush's tax cuts. That isn't a very taxpayer friendly voting record.
In fact, let's be very specific. Kerry had a chance to cut taxes for people who make less than $200,000 just last year. By choosing not to, Kerry voted to deny meaningful tax relief for the voters he is pursuing. Using Department of Treasury data from the IRS, I recently found that the average middle class family would be paying $1,933 more in federal income taxes this year if Kerry had carried the day and the Bush tax cut had been voted down. There would be no child credit; no reduction in the income tax rates; and no elimination of the marriage penalty tax.
If you own stocks, Kerry really plans to sock it to you. Here he does not even bother to camouflage his plans. The Kerry tax scheme openly promises to raise the death tax rate, the capital gains tax rate, and the dividend tax rate. He would raise the capital gains tax from 15% to 20% and the dividend tax from 15% to 35%. When President Bush cut these taxes on stock ownership, the stock market immediately soared by 15%. Repealing this tax cut will necessarily mean that stock values will fall as the after-tax return falls. This alone could reduce household wealth of the half of all American families who own stocks by $1.5 trillion. So the Kerry plan reduces Americans' incomes and their wealth holdings.
