We've talked alot about tax policy here

CLOSE CORPORATE LOOPHOLES

Restore Investor Confidence With Strong Enforcement by the Securities and Exchange Commission: John Kerry will fund strong budgets and assure strong enforcement by the SEC.

Stop Corporations From Keeping Bank Accounts in Countries like Bermuda to Avoid Paying Taxes. John Kerry believes that American companies should not be allowed to set up virtual headquarters in foreign countries that are hardly more than mailboxes just to avoid paying U.S. taxes.

Assure Corporations Account for Disparities on the Books. A recent Joint Committee on Taxation report found that Enron claimed a $2.3 billion in profit between 1996 and 1999 in reports to its investors, while reporting a $3 billion tax loss to the IRS. John Kerry believes corporations should have to account these kinds of disparities.

Stop Giving Government Contracts to Corporations Breaking the Rules. The Federal government should not give lucrative contracts to companies that have a record of accounting fraud – like WorldCom – or are moving offshore.

End Unfair Protections for CEOs. Executives should not be walking away with millions of dollars in salaries and benefits while their workers are laid off their companies are defaulting on loans. Kerry would tighten the laws that allow corporations to take advantage of tax deductions for performance based executive pay – even when executives do nothing to improve productivity.
http://www.johnkerry.com/news/releases/pr_2003_0915b.html

The liberal Washington-based Center for Budget and Policy Priorities estimates that the federal government would take in an additional $2.5 trillion from 2005 to 2012 if all the Bush tax cuts were rolled back. The middle-class provisions (the child-care credit, the new 10% tax bracket and the elimination of the marriage penalty) account for about $686 billion of that total. So, in essence, the Democratic presidential candidates are squabbling over this $686 billion, or 27% of the overall Bush tax cuts.
http://www.usatoday.com/usatonline/20031017/5599034s.htm

The liberal Washington-based Center for Budget and Policy Priorities estimates that the federal government would take in an additional $2.5 trillion from 2005 to 2012 if all the Bush tax cuts were rolled back. The middle-class provisions (the child-care credit, the new 10% tax bracket and the elimination of the marriage penalty) account for about $686 billion of that total. So, in essence, the Democratic presidential candidates are squabbling over this $686 billion, or 27% of the overall Bush tax cuts.
http://www.usatoday.com/usatonline/20031017/5599034s.htm

A NEW TAX CREDIT TO MAKE FOUR YEARS OF COLLEGE AFFORDABLE

Americans Must be Able to Afford Four Years of College. To be successful in the 21st Century economy, America’s workforce must be more innovative and productive than our competitors. More and more, four years of college is a necessity for Americans in order to meet the challenges of the global economy. John Kerry wants to make four years of college as universal as a high school education is today.

College is Becoming More Expensive. Because of George Bush’s mismanagement, states are raising taxes, cutting education, and raising college tuition as much as 40 percent – causing layoffs and undermining economic growth.

· South Carolina’s colleges and universities have raised tuition and fees between 15 and 22 percent due to budget cuts

· Almost 1,000 teaching positions have been slashed statewide. During the last three years, lawmakers have lopped $418 million from the Education Department’s budget.

· Students in South Carolina need help. In addition to increased investment in important programs that help people afford college, like Pell Grants and GEAR Up, John Kerry has proposed a bold new tax credit that will help students to afford college for four years.

College Opportunity Tax Credit: Kerry’s “College Opportunity Tax Credit” will make four years of college affordable for all Americans. He will provide a credit for each and every year of college on the first $4,000 paid in tuition – the typical tuition and fees for public college tuition. The credit will provide 100% of the first $1000 and 50% on the rest. It will also make this credit refundable so that it helps the most vulnerable students.



PROTECTING MIDDLE-CLASS TAX CUTS

Middle class families can’t catch a break. They’re getting battered by high taxes, high health care costs, high energy bills, high college tuitions, and a high cost of living that means they are working harder just to stay in place. But some Democrats want to eliminate all tax breaks – including those that go to provide relief to the middle-class. Repealing the tax cuts for the middle class would hurt those who have borne the brunt of the Bush bust, making it even harder for them make ends meet. John Kerry has pledged to repeal George W. Bush’s special tax breaks that go to the wealthiest Americans.

Keep the Full Child Tax Credit: Raising children costs is expensive and many working families are struggling to make ends meet. The child tax credit provides benefits to 431,000 South Carolina households and John Kerry believes we should keep it that way. He fought for this provision in the 2001 tax cut and worked to make the credit partially refundable. Kerry supported a further expansion of the child tax credit that could have provided benefits to an additional 172,000 children in South Carolina, but the proposal was eliminated by Bush and the House Republicans in a secret midnight deal.

Don’t Reinstate the Marriage Penalty: John Kerry will not repeal the reduction of the marriage penalty, which benefits 451,000 married couples in South Carolina.

Accelerate the 10-Percent Bracket Expansion: John Kerry will not repeal the expansion of the 10-percent bracket. This expansion benefits 870,000 married couples and single tax filers in South Carolina.
http://www.johnkerry.com/news/releases/pr_2003_0912.html