|
apparently, these were the talking points:
Gore vs. Bush on tax cut plans
Gore plan
Vice President Al Gore, presumptive Democratic nominee for president, unveiled a package of tax proposals that would cost $500 billion over 10 years. Highlights:
• Expand tax credits for day care.
• Allow parents who stay at home with infants to use child care tax credits by claiming assumed child care expenses of $500.
• Provide tax credits for after-school care.
• Give a $3,000 tax credit for long-term care.
• Expand earned income tax credit for poor Americans.
• Give married couples the same standard deduction as if they were single.
Bush plan
Texas Gov. George W. Bush, presumptive Republican nominee, proposes a tax cut of $1.3 trillion over 10 years, primarily with an across-the-board income tax reduction. Highlights:
• Double child credit to $1,000.
• Replace five-rate income tax structure of 15, 28, 31, 36 and 39.6 percent with four lower rates: 10, 15, 25 and 33 percent.
• Increase annual contribution limit on Educational Savings Accounts from $500 to $5,000 and expand them beyond college down to kindergarten.
• Eliminate the so-called death tax on estates of deceased persons.
• Restore 10 percent deduction for two-income married couples.
• Eliminate the Social Security earnings test.
Site Map | Back to Top
|