|
|
- Proposes eliminating taxes on unemployment benefits.
- Favors lowering to 10 percent the tax rate for the first $50,000 withdrawn from retirement accounts this year and next year.
- Proposes accelerating tax write-offs for those forced to sell investments at a loss in the current economic market.
- Favors cutting in half the tax on capital gains from stocks and other investments held at least a year from 15 percent to 7.5 percent in 2009 and 2010.
- Says he would order the Department of the Treasury to guarantee 100 percent of all savings accounts for a period of six months
- Proposes increasing the amount of capital losses -- from $3,000 to $15,000 -- that can be deducted from income in tax years 2008 and 2009.
- Voted for the $700 billion bailout for the financial industry.
- Wants the government to use $300 billion of the bailout to buy bad mortgages and allow troubled homeowners to keep their homes.
- Supports a middle-class tax cut to help those who are trying to raise a family by doubling the personal tax exemption for dependents to $7,000.
- Supports making permanent the 2001 and 2003 income tax cuts and has proposed cutting the corporate tax rate to 25 percent from 35 percent and allowing businesses to immediately write off capital expenses.
|
