The Kerry -Edwards economic agenda is now clear: they see the American system as a zero- sum game.
Kerry added " I will roll back the tax cuts for the wealthiest individuals who make over 200.000 a year....", which would include roughly 70 percent of all small business. Promising middle-class tax cuts while raising them for people earning more than 200,000 is not only class warfare at it's worst, it's contrary to American values. It raises the cost of capital, and it contradicts everything we know about where revenue comes from.
The top 2 percent of tax payers pay more than 40% of all federal income taxes. You can't get rich on wages. the only way to get rich is to earn, save and invest.. High tax rates don't hurt the rich, who can shelter their income; high tax rates just keep the poor in poverty. Moreover, as the middle-class gets richer, they are then driven into higher tax brackets, which Kerry wants to make even higher. So when Kerry talks about a "middle class squeeze," he is really laying a middle-class bear trap into which average folks will walk into as they improve their lot in life. This is what class warefare breeds-it lowers revenues, slows growth and results in fewer jobs.
www.townhall.com/columnists/jackkemp/printjk20040802.shtml
Kerry added " I will roll back the tax cuts for the wealthiest individuals who make over 200.000 a year....", which would include roughly 70 percent of all small business. Promising middle-class tax cuts while raising them for people earning more than 200,000 is not only class warfare at it's worst, it's contrary to American values. It raises the cost of capital, and it contradicts everything we know about where revenue comes from.
The top 2 percent of tax payers pay more than 40% of all federal income taxes. You can't get rich on wages. the only way to get rich is to earn, save and invest.. High tax rates don't hurt the rich, who can shelter their income; high tax rates just keep the poor in poverty. Moreover, as the middle-class gets richer, they are then driven into higher tax brackets, which Kerry wants to make even higher. So when Kerry talks about a "middle class squeeze," he is really laying a middle-class bear trap into which average folks will walk into as they improve their lot in life. This is what class warefare breeds-it lowers revenues, slows growth and results in fewer jobs.
www.townhall.com/columnists/jackkemp/printjk20040802.shtml
