August 24, 2000

Gore's Tax Plan:
The Fine Print

Gore’s Budget Spends Entire Surplus and Puts US in the Red

• According to the non-partisan National Taxpayers’ Union Foundation, “Vice President Gore's total agenda over ten years would equal $2.334 trillion, swallowing all of the surplus – actually creating a deficit of $161  billion.”1 

Gore’s “Marriage Tax Reduction” Leaves Out Millions of Couples

• Al Gore’s “Marriage Tax Reduction Plan” leaves out millions of American working couples who itemize their tax returns.  If you itemize, you won’t benefit.

Gore Discourages Charitable Donations

• Under Gore’s tax plan, you are forced to make a choice – if you want the reduction in the Marriage Tax Penalty, you have to give up the benefits of itemizing, like the charitable donation deduction, but if you want the benefits of itemizing, you can’t take advantage of the Marriage Tax Penalty reduction.

Many of Gore’s Tax Credits Go to
NON-TAXPAYERS

• Gore’s “expansion” of the Earned Income Tax Credit is a tax credit for people who don’t pay taxes – many of whom already get payments from the government.  So almost 7 million more families who already don’t pay taxes will get a government check, while most working families whose household income ranges from $60-70,000 and don’t have children or an elderly parent, receive no additional benefit from Gore’s tax plan.2

Gore’s Tax Plan Would Require Filling Out More Forms

• According to the Associated Press, “The issue of tax complication is one all experts agree on: If Gore's plans become law, it will mean more forms to fill out.”3
  
  

1.  “Risky Schemes and Squandered Opportunities: A Comparison of Al Gore’s and George W. Bush’s Spending Proposals,” by Tom E. McClusky, National Taxpayers’ Union        Foundation, August 18, 2000.
2.  “In Tax Plans, Truth is Closely Budgeted,” by Glenn Kessler, The Washington Post, August 23, 2000.
3.  “Bush, Gore Offer Tax Cut Plans,” by Curt Anderson, Associated Press, August 23, 2000

                                                                                          
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