Non-partisan analysis shows that the President’s approach will create more growth, jobs
WASHINGTON , D.C . – An independent analysis of both presidential candidates’ tax plans released yesterday concludes that President Bush’s policy is better for America. The report, produced by the Washington based think tank Heritage Foundation, shows that the President’s plan to make his tax cuts permanent will help our economy perform far better than Kerry’s plan to roll back the cuts and implement expensive government subsidies.
“President Bush’s tax cuts have and will continue to give our economy the fuel it needs to grow,” said ATR President Grover Norquist. “It is crucial that America make the tax cuts permanent so we continue to see growth and job creation.”
The report indicates that the economy will continue healthy growth and robust job creation under President Bush, as the tax cuts fuel investment by both businesses and individuals. Dynamic analysis shows that the U.S. will create an average annual increase of 490,000 more jobs, $36.9 billion more GDP growth, and 46% more disposable income for families of four under George Bush than under John Kerry.
Under Kerry’s plan, growth and job creation would be almost non-existent for the next five years. Ironically, Kerry’s plan reinstates most the Bush tax cuts in 2010 through 2014, and analysts believe that the economy would then begin to show stronger performance as it has now under the current administration.
“John Kerry seems to agree that the Bush tax cuts are the best long term policy, but he wants to take them away for his own short term political gain,” continued Norquist. “ America simply can not afford to let Kerry back peddle on reform, raise our taxes, and make us wait five years for the relief we now have and need to keep.”