Ravenwood - 12/03/02 01:25 PM
Senator and Presidential wanna-be John F. Kerry wants to raise taxes. The money used from raising the taxes will be given to the poor, by deferring the first 10,000 of payroll taxes in a one year rebate. (ie: Social Security and Medicare) Social Security and Medicare benefits will not be cut, so taxes that are rebated for the first $10,000 of income will simply be deferred to those 'rich' Americans that make more than $10,000 in taxable earnings. Basically this shifts the burden of taxes to higher income people. It is commonly known as progressive taxation, one of the basic pillars of Communism.
The Boston Globe tries not to call it a tax increase, but the fact remains that F. Kerry wants to change tax law to increase the tax rates. They spin it as repealing the George F.W. Bush Tax Cut, and note that Bush's tax cut "did not apply to workers who do not earn enough to pay income taxes, roughly those making less than $30,000 per year." As if people that don't pay taxes should get a tax cut?
Reading the Globe article is difficult, as it is necessary to wade through piles of liberal bullshit and fantasy, like their mention of the non-existent Social Security 'trust fund'. If you look hard enough, you'll find that buried in the eighth paragraph is the real deal on how the Social Security tax rebate will be paid for. The Globe notes that F. Kerry's plan would be "providing relief in the form of a rebate, which would be distributed via the federal income tax system." (That's a 'system' funded by regular people like you and me.)
You know how I hate it when you hold your feelings in.... ;o)
Posted by: Jack Cluth at December 3, 2002 1:54 PMI've been grumpy lately. The cold weather isn't helping.
Posted by: Ravenwood at December 3, 2002 10:30 PM(c) Ravenwood and Associates, 1990 - 2014