Business has a friend in John Kerry

Aug 2, 2004

John Kerry was interviewed for a cover story in Business Week on his economic viewpoint. Kerry wanted businesses to understand that he could be as good a friend for business as George Bush.

Kerry said he was one of the first Democrats to push for the Gramm-Rudman-Hollings deficit reduction act in 1985. That bill was the justification for Congress to cut spending on social programs, public services and education.

When asked about his promises to workers that he would tax corporations that take jobs overseas, Kerry said, "I am 100% in favor of companies going abroad to do business." Kerry insisted he only wants to tax corporations that set up headquarters offshore to avoid paying U.S. taxes.

When Business Week asked if Kerry would lower or raise rates on wealthy taxpayers. Kerry said, "I like low marginal [tax] rates. I voted for going down to the 28% and 14% brackets." At another point in the interview Kerry says directly, "I'm not going to tax the wealthy."

So now voters know exactly where Kerry stands – with the rest of the politicians making those who have the least pay the most, so the wealthy get a free ride.