Kerry to Cut Taxes for Small Businesses

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Aug. 2, 2004 -- If elected, John Kerry intends to right the country's economic ship by cultivating floundering and emerging industries to help create new jobs for the middle class and keep existing ones from fleeing overseas, the Democratic presidential candidate said in his nomination acceptance speech Thursday night in Boston.

Kerry capped off a weeklong sequence of speakers by speaking strongly about his economic plan for the country. He emphasized the important role America's middle class plays in the country's economy and how his economic plan will create good-paying jobs to help support them.

"We value jobs that actually pay you more than the job that you lost," Kerry said before thousands of frenzied conventioneers. "We value jobs where, when you put in a week's work, you can actually pay your bills, provide for your children, lift up the quality of your life. We value an America where the middle class is not being squeezed, but doing better."

Kerry announced that his economic plan would focus on three areas: new incentives to revitalize manufacturing, investing in technology and innovation and closing tax loopholes that reward companies for shipping jobs overseas. "We value an America that exports products, not jobs," he said. "And we believe American workers should never have to subsidize the loss of their own job."

Kerry spoke about how his plan would cut the federal budget deficit in half within four years by ending corporate tax giveaways, "and will make government live by the rule that every family has to live by: Pay as you go." Kerry also emphasized what he did not intend to do his with plan - raise taxes on the middle class.

"You've heard a lot of false charges about this in recent months," Kerry said about the criticism of his plan. "So let me say straight out what I will do as president: I will cut middle-class taxes. I will reduce the tax burden on small business. And I will roll back the tax cuts for the wealthiest individuals who make over $200,000 a year, so we can invest in health care, education and job creation."


DARREN DAHL

Darren Dahl is a contributing editor at Inc. magazine, which he has written for since 2004. He also works as a collaborative writer and editor and has partnered with several high-profile authors. Dahl lives in Asheville, North Carolina.




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