>On Tuesday, March 30, 2004, at 04:32 PM, Doug Henwood wrote:
>
>>And not with crap like revenue-neutral alterations of the corporate tax code!
>
>What was that about, anyway? The press spin was "Kerry advocates cut
>in corporate taxes".
He would repeal a provision in the tax code that allowed corps to shelter foreign income. That would raise the effective tax rate, so the idea was to compensate for that by lowering the general rate. Thus, revenue neutrality. It's extremely wonkish stuff, completely unsuited for a tight election fought against a bunch of bloodthirsty attack dogs.
Doug