Between Hope and History: on Tax Reform

Target tax cuts on IRAs, education, & families

To achieve more growth and more economic opportunity for working families, I have a balanced-budget plan with targeted tax cuts for America’s families:
• an additional $500 tax credit for each of their children;
• more generous Individual Retirement Accounts with funds that can be used without penalty for important investments;
• a tax deduction for the cost of college up to $10,000 a year, and a tax credit up to $1,500 a year for up to two years of community college. Source: Between Hope and History, by Bill Clinton, p. 31 Jan 1, 1996

  Across-the-board tax cuts are irresponsible

  Some [of our political opponents] are offering a strategy they have offered before: an across-the-board tax cut bigger than we can afford. If implemented, it will either explode the deficit, raise interest rates, & slow the economy; or if it is paid for, it will require even bigger cuts in Medicare, Medicaid, education, and protection of the environment than the budget I vetoed. Either way, it will reduce opportunity, slow the economy, and ultimately hurt hard-working Americans. It is not responsible. Source: Between Hope and History, by Bill Clinton, p. 58 Jan 1, 1996

  The above quotations are from Between Hope and History: Meeting America's Challenges for the 21st Century, by Bill Clinton. Click here for definitions & background information on Tax Reform. Click here for more quotes by Bill Clinton on Tax Reform.
  2008 Presidential contenders on Tax Reform:
  Republicans: Mayor Rudy Giuliani Gov.Mike Huckabee Rep.Duncan Hunter Sen.John McCain Rep.Ron Paul Gov.Mitt Romney Sen.Fred Thompson Gov.Tommy Thompson	Democrats: Sen.Hillary Clinton Sen.John Edwards Sen.Mike Gravel Rep.Dennis Kucinich Sen.Barack Obama	Third Parties: Green: Rep.Cynthia McKinney Socialist: Brian Moore Independent: Mayor Mike Bloomberg
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