"In todays economy, fiscal prudence and responsibility call for tax reductions even if it temporarily enlarges the federal deficit. Reducing taxes is the best way open to us to increase revenues."
President John F. Kennedy.1965
Senator Kerry bought a seven million dollar yacht in Rhode Island instead of Mass. where he is the senior senator and champion of higher taxes on the rich. He avoided $437,000 in state taxes and annual excise tax of $70,000.
The U.S. went into double-dip recession in 1938, unemployment rose to 20%. The Democratic Government raised personal top marginal income taxes from 24% to 83%. It's no wonder why the great depression lasted so long. Higher taxes on the rich create the very poverty and unemployment that is used to justify their presence.
The Obama administration will probably extent the Bush tax cuts, however they won't extend them for the rich. Therefore a tax on those who create the jobs!
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