Let?s say you are a Sub-S corporation with five employees. Kerry gets elected and your taxes go up by about $35,000 a year. Perhaps the easiest way to recoup that loss would be to cut back on some capital expenditures and expansion plans, and fire your least productive employee. How many employees of these small businesses will be laid off to satisfy John Kerry?s class warfare designs?
Small businesses are the heart of the American economy. John Kerry wants to punish them for their success. Do you really think that?s a plan worth supporting with your vote?
Kerry also wants to replace the tax on corporate stock dividends. In other words, he wants corporate profit to be taxed twice. Tax it once when the corporation reports its earnings to the government, and tax that profit again when it is distributed to the (shareholders) owners. Since the tax on dividends was erased more people have become investors. And why not? The potential reward for this activity has been increased. What do you think happens when the government starts punishing this behavior?
We can?t undo years of government economic mis-education in 950 words, but there is room to dissect a bit more of Kerry?s class warfare rhetoric.
Kerry says that the Bush tax cuts shifted much of the U.S. tax burden ?from wealth to work.? This statement was designed to make you believe that only working people have to pay taxes; that the wealthy are somehow getting a free ride. It?s an income tax, my friends, not a wealth tax. The top one percent of income earners still earn about 17 percent of total reported income, but they?re paying 37 percent of all income taxes. In the meantime, the bottom 50 percent of income earners have been almost completely removed from federal income tax rolls. Tell me again, Mr. Kerry, how the burden is being shifted?
Another Kerry rhetorical gem: ?"He [President Bush] made a clear choice: To pass the bucks to the privileged while passing the buck to our children," Just how, pray tell, were bucks passed to the privilege? This is another great misconception about tax cuts that is eagerly nourished by the left. No money is ?passed.? The people who actually earned that money are simply being allowed to keep more of it! The left loves to portray a tax cut as some sort of a gift. What would you say to someone who steals your wallet and car, and then hands you back a few bucks so you can get home on the bus? Gee, mister. Thanks for the gift?? Then we have referring to the hard working Americans who have reached the upper income levels as the ?privileged.? Simply more class warfare rhetoric. They worked hard and exercised their power of choice wisely to get there. This ?privileged? nonsense is designed to make it look like they?ve received some favor denied to the rest of us.
The opportunity to work hard, make good choices and prosper is denied nobody. The willingness to do so, however, seems in short supply.
Neal Boortz is a lawyer and nationally syndicated radio talk show host.