(2004-07-29) — Responding to the release of new data from the Internal Revenue Service (IRS) which shows that the wealthiest families have suffered a sharp decline in income, Democrat vice presidential candidate John Edwards today said the Kerry-Edwards White House would institute massive government reforms to help the struggling ‘first America’.
“There are two Americas,” said Mr. Edwards, “and the first America-those who earn most of the money, invest the most in our economy and pay most of the taxes-are hurting right now. It doesn’t have to be that way. We can be one America.”
According to the IRS, income for Americans who earn between $200,000 and $10 million per year have been hit hardest during the past two years, despite the fact that they pay the highest tax rate.
Mr. Edwards said the Kerry administration would reduce income taxes on beleaguered ‘first Americans’, cut the capital gains tax and eliminate the so-called “death tax” which unfairly punish those who have worked hardest to achieve the American dream.
“John Kerry will be president for all Americans,” said Mr. Edwards, “not just for those low income ’second Americans’ who contribute little to our economy, drain the most resources and hardly pay any taxes.”
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1 Ashish's Niti // Aug 1, 2004 at 5:51 pm
Kerry and Edwards plan to increase tax rates
Kerry and Edwards are so pissed off that most of the tax cuts helped rich people that they are planning to increase taxes for low and middle income Americans. So, next time another Republican Administration cuts taxes all Americans benefit equally.