Subject: DEBATE FACT CHECK: Kasich’s Tax Cuts Would Benefit the Wealthy and Corporations
From: DNC Press <[email-masked]>
To: DNC Press <[email-masked]>
Date: Wed, 11 Nov 2015 02:16:22 +0000

Fact Check: Kasich’s Tax Cuts Would Benefit the Wealthy and Corporations

John Kasich likes to brag about his past economic record, but his policies and proposed tax cuts would benefit the wealthy and corporations over the middle class. His plan would cut Medicare and Medicaid, gut the Department of Education and Transportation, and on top of all of that – grow the deficit. Kasich claims that balancing the budget is a moral obligation, but even by his own standards, his plan is just immoral and wrong.

KASICH’S PROPOSED TAX CUTS WOULD BENEFIT THE WEALTHY AND CORPORATIONS

Most Of Kasich’s Tax Cuts Would Benefit The Wealthy. “While most of the cuts would benefit the wealthy, Kasich's plan says he wants to cut other brackets' tax rates as well, but does not say how much. Kasich also would increase by 10 percent the earned-income tax credit, a measure designed to help the lowest-income taxpayers. ‘It's an accordion,’ Kasich said Thursday. ‘Bring the top down and help those at the bottom to become more successful.’" [Cincinnati Enquirer, 10/15/15<http://www.cincinnati.com/story/news/politics/elections/2015/10/15/john-kasich-leans-tax-cuts-spending-freeze-plan-balancing-federal-budget/73981478/>]

Kasich’s Plan Gave Tax Cuts To Businesses And The Wealthy. “The Ohio governor's budget framework prescribes tax cuts for businesses and the wealthy, a major boost in military spending and the end of the federal government's role in administering education and transportation funding.” [Associated Press, 10/15/15<http://bigstory.ap.org/article/e89e0cc96829406592a0d18577e4342b/gop-hopeful-kasich-detail-sweeping-balanced-budget-plan>]

Kasich’s Tax Plan Cut The Top Income Tax Rate From 39.6% To 28%, And Reduced The Number Of Tax Brackets From 7 To 3. “John Kasich will simplify and cut taxes for Americans by reducing the number of brackets from seven to three, cutting the top rate from the current 39.6 percent to 28 percent—the same rate President Reagan used in his 1986 tax cut—and cutting the other rates as well.” [Kasich Action Plan Summary, Kasich For America, 10/15/15<https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/KASICH-PLAN-SUMMARY1.pdf>]

Kasich’s Tax Plan Cut The Capital Gains Rate To 15%. “Kasich also will increase the Earned Income Tax Credit by 10 percent, cut the long-term capital gains rate to 15 percent, eliminate the death tax and preserve the deductions for charitable donations and mortgage interest (consistent with current limits).” [Kasich Action Plan Summary, Kasich For America, 10/15/15<https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/KASICH-PLAN-SUMMARY1.pdf>]

Kasich’s Tax Plan Eliminated The Estate Tax. “Kasich also will increase the Earned Income Tax Credit by 10 percent, cut the long-term capital gains rate to 15 percent, eliminate the death tax and preserve the deductions for charitable donations and mortgage interest (consistent with current limits).” [Kasich Action Plan Summary, Kasich For America, 10/15/15<https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/KASICH-PLAN-SUMMARY1.pdf>]

KASICH’S BUDGET PLAN INCLUDED CUTS TO MEDICARE AND MEDICAID

Kasich Proposed Cuts To Medicare. “He does, however, propose a series of cuts to Medicare that would slow the growth rate of the government-subsidized health care program for more than 50 million elderly and disabled Americans.” [Associated Press, 10/15/15<http://bigstory.ap.org/article/e89e0cc96829406592a0d18577e4342b/gop-hopeful-kasich-detail-sweeping-balanced-budget-plan>]

Kasich’s Plan Called For Increased Cost Sharing For Medicaid Enrollees, “Especially For Those With Incomes Above The Poverty Level.” “Getting Medicaid’s unsustainable growth rates under control means giving states more freedom to innovate, improve quality and increase efficiency…Increase Personal Responsibility: Reform the guidelines related to cost-sharing by program enrollees, especially for those with incomes above the poverty level. Those who are able to contribute financially to the cost of their care should do so in a meaningful way.”  [“Dismantling Washington And Taking Back Our Power, Money And Influence” Fact Sheet, Kasich For America, 10/15/15<https://s3-us-west-2.amazonaws.com/john-kasich-assets/wp-content/uploads/2015/10/Kasich-Plan-Fact-Sheet-Dismantling-Washington.pdf>]

KASICH WANTS TO GUT THE DEPARTMENTS OF TRANSPORTATION AND EDUCATION AS PART OF HIS PLAN TO BALANCE THE BUDGET

Kasich Proposed Gutting The Transportation And Education Departments. “Republican presidential candidate John Kasich said today in his first major policy speech of the campaign that, as president, he would gut the U.S. transportation and education departments and would balance the budget within eight years.” [ABC News, 10/15/15<http://abcnews.go.com/Politics/john-kasich-calls-gutting-federal-transportation-education-departments/story?id=34499045>]

AFTER ALL OF THESE CUTS, KASICH PROJECTED THAT THE BUDGET DEFICIT WOULD GROW UNDER HIS PLAN FOR THE FIRST FEW YEARS

Kasich Projected That The Budget Deficit Would Grow Under His Plan For The First Few Years. “Kasich is calling for broad tax cuts that would grow the budget deficit in the first few years, according to projections his campaign shared with AP. His advisers predict that economic growth sparked by the tax cuts, backed by cuts to Medicare and Medicaid and an eight-year freeze on all non-defense discretionary spending, would eventually offset lost tax revenue to balance the federal budget for the first time since Bill Clinton was president.” [Associated Press, 10/15/15<http://bigstory.ap.org/article/e89e0cc96829406592a0d18577e4342b/gop-hopeful-kasich-detail-sweeping-balanced-budget-plan>]

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