George W. Bush
- Double the child credit to $1,000.
- Replace existing tax rate structure of 15, 28, 31, and 39.6 percent with 10, 15, 25, and 33 percent, respectively.
- Increase annual contribution limit on tax-advantaged Educational Savings Accounts from $500 to $5,000, and expand their reach to beyond college and down to kindergarten.
- Eliminate the death tax.
- Reduce the marriage penalty, allowing the lower-earning spouse to deduct 10 percent of earnings up to $30,000.
- Opposes any taxes on Internet access and supports moratorium on Internet sales taxes through 2004.
- Would gradually phase out inheritance tax and gift taxes.
- Would eliminate the national debt by 2016.
- Plan would cost $438 billion over five years.
- Would set aside the entire projected Social Security surplus of $2.39 trillion to strengthen the program.
- Would use the $2.17 trillion non-Social Security surplus for a $1.3 trillion tax cut; $475 billion in spending on domestic programs; and $265 billion in a "rainy day fund."
- Would make the Research and Development tax credit permanent. (It's now set to expire in 2004.)
- Proposes a 10-year, $1.3 trillion tax cut, with an overhaul of the current rate structure.
- Pay off national debt by 2012
- Dedicate the entire Social Security surplus to reducing the national debt and strengthening Social Security. Would then apply the resulting interest savings to strengthen the Social Security Trust Fund.
- Create a off-budget "Medicare lock box" so that Medicare payroll taxes can be used only to strengthen Medicare and pay down the national debt.
- Proposes a $500 billion tax cut to help families afford quality child care, higher education and lifelong learning, health insurance and long-term care for an aging or disabled relative.
- Would eliminate marriage penalty and provide estate tax relief for small business owners and family farmers.
- Proposes to make the Research and Experimentation Tax Credit permanent and easier for small businesses to use, double the investment in information technology research over the next five years, and increase investment in biomedical research.
- Work to open foreign markets while maintaining high standards on human rights and the environment.
- Would increase the Earned Income Credit earnings threshold.
- Would create a 401(j) Life-Long Learning Account to let families and employers contribute up to $2,500 a year for any education or qualified life-long learning expenses.
- Would use the $2.17 trillion non-Social Security surplus for $480 billion in targeted tax cuts; $360 billion to strengthen the Medicare program; $870 billion in spending on domestic programs; $300 billion would be left as a "rainy day fund."