HEALTH CARE Bush: Create tax-free medical savings accounts to cover what insurance doesn’t, while increasing deductible after which insurance coverage begins. Intended to lower health costs and increase the number of insured by lowering...
HEALTH CARE Bush: Create tax-free medical savings accounts to cover what insurance doesn’t, while increasing deductible after which insurance coverage begins. Intended to lower health costs and increase the number of insured by lowering premium costs. In first term, won Congressional passage of controversial prescription drug benefit for low-income elderly, which critics argue is insufficient.
Kerry: Increase health care tax credits for small businesses by up to 50 percent. Chance for low-income individuals to buy into the affordable health plans offered to Congressional lawmakers. Government pays up to 75 percent for catastrophic health care costs, saving up to $1,000 per worker premium. Cut annual nonmedical health care costs for mostly paperwork by up to $350 billion. Require government to negotiate lower prescription drug prices.
ECONOMY/TAXES Kerry: Repeal Bush tax breaks for families making more than $200,000, including for dividends and capital gains, returning top tax rate to 39.6 percent from 35 percent and affecting about 2 percent of the population, or 2.5 million households. Campaign estimates $860 billion over 10 years would be saved and used to pay for his health care and education plan. Low- to middle-class taxpayers would keep Bush tax cuts, which for a family of four with $40,000 in income amount to about $2,000 a year. Pay employer share of payroll taxes in 2005 and 2006 for any net new jobs created by small businesses and companies affected by outsourcing. Increase small business loan programs.
Eliminate rules for companies to defer paying taxes on foreign subsidiaries until future profits are returned to the U.S., which is intended to encourage U.S. investment and discourage outsourcing. There would be a one-time tax holiday for repatriation of past offshore profits. Use tax-deferral savings to reduce U.S. corporate income taxes to 33.25 percent from 35 percent. Kerry claims his overall tax plan would create 10 million jobs in his first term. Create 3 million jobs in 500 days by increasing spending on highways, school construction, environmental clean up and other projects.
Bush: Make permanent almost $2 trillion in tax cuts passed by Congress during his administration, now being phased in and set to expire by 2010. He credits his tax cuts with pulling the economy out of recession and its posts-9/11 slump. He would reduce business regulations to lower costs and increase U.S. energy production. He also would push Congress to set limits on class-action lawsuits and medical malpractice awards and would create $3,000 reemployment accounts to pay unemployed worker job searches.JOBS Bush: Would review increasing the minimum wage, but in the past he has opposed increasing it as injurious to economic growth. The President supports legal status for temporary immigrant workers. In his first term, he changed rules on who qualifies for overtime pay and signed legislation repealing Clinton administration ergonomic workplace safety rules.
Kerry: Would increase the minimum wage to $7 from $5.15 by 2007; repeal Bush changes to overtime pay rules, and institute employer-mandated ergonomic injury safeguards, repealed under the Bush administration. He also would increase the employee child care tax credit to $5,000 from $3,000; expand after school programs, and support legislation to grant legal status to temporary immigrant workers.
TRADE Kerry: Would renegotiate the Central American Free Trade Agreement to include stronger labor and environmental standards, which would be required in all future trade pacts, and review existing trade agreements for 120 days to weigh fairness. He also would make “more forceful efforts” to bring the undervalued Chinese currency in line and launch an inquiry into China’s worker rights abuses; increase funding for trade agreement enforcement, and use unfair trade practice laws to counter violations. The candidate would strengthen must-buy-American-made rules for defense and homeland security supplies, including uniforms, and would press trading partners to lower paperwork and other barriers to U.S. export sales.
Bush: Would continue to negotiate free-trade agreements and press for elimination of industrial tariffs among World Trade Organization members, and keep negotiating with the Chinese about bringing their overvalued currency and intellectual property violations in line. He rejects pressuring China with the threat of trade sanctions to conform and has supported government reviewing requests for new Chinese apparel and textile quotas based on threat of U.S. market disruption. The administration has already approved three requests for new Chinese safeguard quotas.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews