Since 2001, the Bush Administration has pursued a reckless fiscal policy that has decreased the fiscal security of the United States. In 2000, after the first balanced budgets in decades, the national debt was $5.7 trillion. Today, this debt has ballooned to $9.5 trillion, a roughly 66% increase. As a result of these flawed policies, the dollar has decreased in value by 33% since 2002, increasing the cost of everything we buy from overseas, including oil. In addition, 9% of the federal government's budget goes to interest payments on the national debt.
As a result of President Bush's policies, the tax burden has shifted off the wealthy and on to working families. The President and Congressional Republicans have financed their tax breaks for the wealthy by mortgaging our childrens' future. I believe these policies must be reversed.
* Income Tax: Over the last decade, salaries for the wealthiest Americans have grown rapidly while they have stagnated for most working families. I support reversing the Bush Tax Cuts for Americans in the two highest tax brackets.
* Capital Gains and Dividends: In an effort to cut taxes for the wealthiest
Americans, the Bush Administration has slashed taxes on capital gains and
dividends. I support restoring these taxes to their original level.
* The Estate Tax: The Bush Administration and congressional republicans have also made efforts to repeal the Estate Tax, which would only benefit the
wealthiest one half of one percent of Americans. According to the Center for
Budget and Policy Priorities, a repeal of the Estate Tax will cost $1 trillion over
ten years. I will work to oppose repealing the Estate Tax, while working to make sure that family owned farms and businesses are protected from these taxes .
* Ending Corporate Tax Loopholes: Tax Loopholes currently allow corporations to benefit by outsourcing American jobs and by locating their headquarters overseas. I will work to close these loopholes.