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Flaw in proposal

Presidential candidate John Kerry’s continuing call for increased taxes on those who earn over $200,000 per year is an example of his misunderstanding of basic economics.The flaw in Kerry’s proposal is that higher tax rates won’t stop someone from being rich. What his proposal will do is keep the poor from becoming rich.

Those who are already rich can move their money into protected havens, as the Kerry-Heinzes have done by sheltering their wealth in tax-free foundations and investing in tax-free corporate bonds. Thanks to highly paid lawyers and accountants, their effective tax rate for 2003 was 12.8 percent on earnings of close to $6 million.

Raising taxes on those striving for success won’t have the slightest effect on the Kennedy, Rockefeller or Kerry-Heinz fortunes.



Tony Rohl

Grass Valley


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