Strengthening Constitutional Self-Government

No Left Turns

The Wrong People

The New York Times today denounces Bush’s plan to eliminate taxes on stock dividends as "The Charles Schwab Tax Cut," which is "the wrong move at the wrong time for the benefit of the wrong people." By the wrong people, I presume that the Times means retirees. Many middle income retirees rely upon dividends for their income. Reducing or eliminating the tax would therefore have a significant effect on those who were middle-income workers who invested for their own retirement. In an era where a substantial portion of America invests for retirement, it is time for the Times to drop the class-based progressive rhetoric which assumes that anyone who makes a dime on the stock market is named Rockefeller.

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