WARREN BUFFETT SUPPORTS KERRY
Investor Warren Buffett, the world's 2nd richest man, disagrees with Bush's tax cuts. "They should have been far more for the middle class and people in poor economic status. I've got way more money in my pocket because of the tax change and I don't think it's a good idea.'' he says.
Last year, Buffett donated to Democratic presidential contenders Wesley Clark and Florida Senator Bob Graham. Buffett also served as an adviser to Arnold Schwarzenegger during his campaign for governor of California.
After Schwarzenegger won, Buffett advised him to sell $15 billion of debt to finance the state's budget deficit.
STEVE JOBS SUPPORTS KERRY
Kerry proposes setting up a Manufacturing Business Investment Corporation to provide money for manufacturing companies investing in new technologies, similar to a government program that helped Apple get started.
Jobs has Al Gore on Apple's board of directors.
ECONOMIC POLICY: KERRY VS BUSH
Kerry said he'd provide a tax cut for small businesses and family farms by raising the estate tax exemption to $4 million for a family and $10 million for a family-owned business or farm. The exemption is currently $1.5 million.
He would keep Bush's tax cuts for middle-income families, while repealing tax cuts Bush signed into law for households making more than $200,000 a year.
The revenue from taxing higher- income families would be used to expand education and health care. Kerry would also create a $4,000-per-year tax credit for college and higher-education students.
He also plans to cut the record federal budget deficit in half within four years. Kerry said the deficit ``can become a fiscal cancer that will erode any recovery and threaten the prospect of a lasting prosperity.''
Bush blamed the deficit on the recession, followed by 9/11 and the cost of war.
He urged that Congress make permanent the $1.7 trillion in tax cuts he signed into law since 2001 to spur investing and stimulate the economy. Bush promises to press for spending restraint to slash the deficit in half if he gets a second term.
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