WASHINGTON � John Kerry, promising to create 10 million jobs and keep them in America, said Friday he would cut corporate taxes by 5 percent and eliminate tax loopholes that push jobs overseas.
The plan would face a series of obstacles should the Massachusetts senator defeat President Bush in November, starting with politically powerful corporations that benefit from the overseas tax breaks he wants to scrap.
Kerry also may be second-guessed by Democrats who would prefer to transfer his plan's savings to more targeted jobs initiatives or programs that benefit middle-class voters.
But he settled on a blend of loophole-cutting populism and business-friendly moderation, casting his package as jobs-producing tax reform. Polls show jobs are the top issue with most voters, and Kerry is viewed as best suited to improve the economy. Terrorism is the No. 2 issue, and most voters say they trust Bush most to protect the nation.
"John Kerry's plan to reshuffle the corporate tax code does nothing to help America's small businesses and entrepreneurs be more competitive," Bush spokesman Steve Schmidt said.
Hello, you want to help small business? Lift the burden of health care from their backs by providing single-payer. That will free up more capital, generate more entrepeneurship, and have an immediate boost on jobs. I'd like to see a conservative economist I respect critique my logic, I think it would be a good debate.