DNC: Republican Presidential Candidates Offer Another Bush Term on the Economy

WASHINGTON, Jan. 7 /PRNewswire-USNewswire/ -- President Bush today recycled
his same failed message on the economy, ignoring the fact that Americans say
the economy is one of their top concerns. It's clear from the Republican
presidential hopefuls' rhetoric on the campaign trail that a vote for them is
a vote for a third Bush term and his failing economic policies. And that's the
last thing the American people want. Recent polls show that Americans think
"the economy is bad and getting worse" and they think we are in a recession.
[The New York Times-CBS Poll, Released 12/11/07, Washington Post-ABC Poll,
Released 12/12/07]

"From budget busting favors for the special interests to reckless spending
that turned record surpluses into record deficits, Bush Republicans have
nothing to boast about when it comes to the economy. Democrats will bring
change; Republicans would bring another Bush term for the economy. Voters will
elect a Democratic president this year so that our economy works for all
Americans once again," said DNC Press Secretary Stacie Paxton.

Taxes -- More Budget-Busting Favors for the Wealthy and Special Interests

JOHN MCCAIN:

Voted for Bush Tax Cuts and Defended the Flip-Flop as a Legislative Gimmick.
John McCain voted to extend tax cuts supported by the president that were set
to expire between 2005 and 2010. "The Senate voted 53-47...in favor of
extending the president's investor tax cuts on dividends and capital gains.
Joining in this breakthrough vote was John McCain, the senator who voted
against these tax cuts when they were introduced in 2003. This is an important
shift for the GOP presidential front-runner[.]" McCain's vote was described as
"a sharp reversal of his anti-tax-cut posture," though he defended the shift,
saying, "it was a gimmick," reasoning that "the tax cuts were temporary and
then had to be made permanent. The tax cuts are now there and voting to revoke
them would have been to -- not to extend them would have meant a tax increase.
I've never voted for a tax increase in my life." [Senate vote #10, H.R. 4297,
2/2/06, passed 66-31; New York Times, 2/21/06; Washington Times, 3/6/06; NBC
News, 4/2/06]

NY Times: McCain Made A Stand On Tax Policy But Didn't Hold To It. "Mr. McCain
made a stand by voting against the Medicare prescription drug benefit in 2003
and Mr. Bush's tax cuts in 2001 and 2003. But, like his fellow Republican
contenders, he supports extending tax cuts for investors, even though they are
not paid for." [Editorial, New York Times, 3/21/06]

MITT ROMNEY:

Bragged about Support for Bush Tax Cuts. During a November 2006 press
conference held in Arizona, Romney outlined differences between himself and
McCain. Romney said "he was quicker than McCain to endorse President Bush's
tax cuts." [East Valley Sun, 11/14/2006]

Washington Post: Romney's Tax Plan "Poorly Designed, Expensive." The
Washington Post criticized Romney's tax proposal in October 2007, saying that
his tax "scheme" was "poorly designed, expensive" and that Americans already
have "ample opportunity to save tax-free, with an array of vehicles for
retirement and education savings." [Washington Post editorial, 10/16/2007]

RUDY GIULIANI:

Defended Bush's Tax Cuts. "He [Giuliani] strongly defended the Bush tax cuts,
saying 'tax reductions stimulate an essentially private economy. Why Democrats
don't get this, I don't understand. ... They attack President Bush for
lowering taxes twice and for taking us to war.' 'It's pretty smart if you're
going to run a war to lower taxes,' he added, saying that such policies
'stimulate the private sector.'" [San Francisco Chronicle, 7/24/07]

Giuliani Exaggerates His Record On Taxes, Taking Credit For Nine Tax Cuts
Where None Is Due. In an article entitled "Giuliani's Tax Puffery,"
independent watchdog FactCheck.org found Giuliani's claims on cutting taxes
highly misleading. They wrote that "the mayor takes credit for too many tax
cuts" and called his claims an "overstatement." Their research showed Giuliani
can't claim credit for nine of the 23 cuts he cites. For example, with the
personal income tax surcharge, "he strongly opposed one of the largest cuts
for which he claims credit, reversing himself only after a five-month standoff
with the city council." They also found that "he takes personal credit for
seven cuts that were initiated not by him but by the state, according to the
city's Independent Budget Office, a publicly funded, nonpartisan watchdog
agency that puts out highly regarded budget analyses." The New York Daily News
wrote that Giuliani's claim is "not really true, say tax-cutting allies of the
former mayor, as well as experts at the city's Independent Budget Office and
elsewhere." [FactCheck.org, 7/27/07
(http://www.factcheck.org/elections-2008/giulianis_tax_puffery.html); Daily
News (NY), 7/29/07]

MIKE HUCKABEE:

Backs Fair Tax. Plan Would Lead to 34 Percent Sales Tax, Repeal of Middle
Class Deductions. According to analyses of Huckabee's Fair Tax, "The 30
percent rate assumes that the tax would be imposed on a broad range of goods
and services that has no precedent -- putting a hefty and politically
implausible extra tax bite on purchases of new homes, rent, food, health
insurance, medical care and mortgage interest. Finally, the Fair Tax would hit
the middle class the hardest. Consumers would receive a monthly "prebate" on
expenditures up to the federal poverty level, providing a cushion and probably
even a modest benefit for those with the lowest incomes. The top earners,
those with incomes greater than $200,000, would see significant tax cuts. So
who makes up the difference? It's likely that taxpayers with incomes in the
middle range -- about $40,000 to $100,000 -- would pay more. And they call
that a Fair Tax?" [Editorial, Washington Post, 12/31/2007]

Paid for and authorized by the Democratic National Committee,
http://www.democrats.org. This communication is not authorized by any
candidate or candidate's committee.

SOURCE Democratic National Committee

Stacie Paxton or Caroline Ciccone, both of the Democratic National Committee,
+1-202-863-8148