First Clark exaggerates, now he lies about Edwards

On Friday, Wes Clark and his campaign manager Chris Lehane accused John Edwards of not protecting veterans benefits. This over a "Sense of the Senate" amendment to an amendment to a 1999 Health and Human Services appropriations bills that said increases in discretionary spending should be limited to avoid dipping into the Social Security trust fund. Clearly, calling this an assault on veterans' benefits was a distortion if not an outright lie. Now they are just lying.

On Sunday, here is what Clark had to say:

"My opponents, on the other hand, haven't taken the bold but necessary steps to help America's working families. They have not asked millionaires to pay their fair share by raising their income tax rate. I like John Kerry and John Edwards. They are both good men. But real middle class tax cuts aren't just a matter of rhetoric - they're a matter of action. And while both men talk a lot about middle class tax cuts, when you look at their plans, you realize they're all talk and no action. In fact, the majority of families wouldn't get any tax cuts from either plan," Clark said....

JOHN EDWARDS' PLAN

Leaves out most middle-class families: only 13 percent of families have capital gains and only 17 percent of families have stock dividends.
Provides little tax relief - $33 on average for middle-class families.
Does not raise income taxes for millionaires. The Edwards proposal does not raise income tax rates for millionaires. It does take a much smaller step of raising capital gains rates for capital gains in excess of $1 million.



Edwards' plan specifically reverses the Bush tax cuts for those making over $240,000, including every single millionaire! This $240,000 threshold is the same one Wes Clark sets! Yet he accuses specifically states that Edwards is not raising the income tax rate for millionaires! In fact, he repeats the same sentence twice for emphasis. Does he think saying it twice will make it true? This is just an outright lie.

As for capital gains and dividend income? John Edwards plan INCREASES taxes on both capital gains and stock dividends! Clark is implying that John is cutting those taxes, when Edwards is raising them! Sure, only 13% and 17% pay each of those taxes respectively, but Edwards is RAISING taxes on those groups, not cutting them like Clark clearly implies.

And this $33 claim? I have no idea where Wes is getting that from, and of course he does not bother to say. Nonetheless, he obviously left out the following specific Edwards' proposals for working families:

The American Dream Tax Credit

Edwards' American Dream Tax Credit will offer a matching tax credit of up to $5,000 to help those who need it to cover a down payment on a first home. This credit will give millions of Americans their first chance to own a home.

Incentives to Invest and Save

To help working Americans invest in American business, Edwards will cut capital gains taxes for 95% of Americans. For these taxpayers, he will create a $1,000 exclusion from capital gains taxes, as well as $500 dividend exclusion. He will also lower the long-term capital gains rate for middle-class families. These steps will simplify tax filing and eliminate two tax forms for millions of Americans.

Matching Savings Accounts for Retirement

Edwards will give Americans who have the most trouble saving today a chance to save through matching savings accounts. He will match $1 in private savings with as much as a $1 refundable tax credit for savings, up to a limit of $1,000 per couple, for Americans with incomes up to $50,000. A working family that saves and receives the maximum under this plan every year from age 25 to retirement will have a nest egg of $200,000, on top of other savings.



The facts are clear. Clark is not telling the truth, and he needs to apologize. Of course, his hope is that Tennesseans will go to the polls tomorrow before his lies are uncovered. I guess he thinks it's the only chance he has to stay in this.