Liberally Conservative

"Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like in the United States where men were free....... ~Ronald Reagan~

Monday, August 16, 2004

Kerry Tax Policy.....Already Damaging the Markets

Senator Kerry has openly stated his desire to eliminate the Bush tax cuts for "the rich." Kerry can't grasp that taxes are a price and a burden. The exactions we pay on our incomes are the price we pay for working. The levies we fork over for profits and capital gains are the price we pay for success and for taking risks that pan out. The idea behind tax cuts is very simple: Lower the burden on such good things as productive work, risk-taking and success, and you'll get more of them. Every time in American history that we've lowered tax rates on capital and labor, the economy has blossomed. Most of the people in the top 1% of earners are business owners and entrepreneurs, not just high-income individuals with trivial business income on the side. In fact, business owners pay 55% of all income taxes. And how does Senator Kerry propose to treat these small-business people who create most of our jobs and pay most of our income taxes? Kick them in the teeth with higher taxes. Raising taxes works! For Democrats, this is akin to a drunk hearing the news that more drinking means better health. Make no mistake; the contrasts between Bush and Kerry are very, very real. If the Massachusetts senator wins, the U.S. and the world will pay the equivalent of hundreds of billions of dollars in lost economic growth and equity values.

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