Gore on Taxes

4 Pages 1005 Words

Tax Reform

Gore’s plans for tax reform benefit the low to middle income citizens. Gore believes that it is unlikely that every family will receive a tax cut. Gore wants to lower taxes for working families with targeted tax reform. Many of his tax plans are targeted toward smaller groups of people such as people buying energy efficient vehicles and homes. Another group Gore plans to target with tax relief is people working in nursing homes. His plan doesn’t include tax relief for over 50 million Americans. Gore’s plan would spend an estimated $500 billion over a ten-year period. He estimates $250 billion spent on targeted tax cuts over a ten years period. He plans new tax-sheltered retirement savings account with government matching funds for up to $100,000. Estate tax relief is available for small businesses and farmers. Gore would increase the standard reduction for married couples. Gore would increase eligibility for college tuition tax credits. Gore plans a tax credit of up to $3,000 on long-term health care expenses. Gore wants a new $1,000 credit for work-related expenses. Gore does not support tax increase in good economic times. Gore supports the underdog, the little guy, the worse-off families, rather than the wealthy, big business corporations.

Education

In order to boost teacher quality and standards, Gore would invest $8 billion over 10 years in salary increases. To improve teacher quality, Gore proposes a 21st Century Teacher Corps in which new teachers would be recruited. Gore wants better teachers and more of them to limit class size and improving teaching quality. The program would reward people who commit to teach in high-need schools and professionals who switch careers to teach. Gore would help parents pay up to 50% of childcare expenses. Gore wants to expand the Child and Dependent Care Tax Credit and the After-School Tax Credit. Gore plans to expand Head Start, a program that provi...