There is one enemy in this ballgame and it's the government spend-hog that Kerry wants to run. Bush may be a bit out of control on his spending right now, but Kerry is the one openly advocating for increased government involvment/control, which in turn translates to increased spending, which in turn translates to increased taxes.
Bush has been spending more and more and increasing the deficit. From what I heard from Edwards, he and Kerry want to reduce spending and only increase taxes for those that make over $200,000 and reduce taxes for middle income families, as well as cut the deficit in half. Doesn't sound very spend hoggish to me, but quite the opposite. Unless you just throw them under the "They're democrats so they must want to spend more" category.