WASHINGTON, March 29 (UPI) -- The American Shareholders Association is warning investors to be wary of promises from U.S. Sen. John F. Kerry, D-Mass., to raise taxes only on the wealthy.
"Kerry's consistent opposition to investor tax cuts on all income groups demonstrates he wants to tax all investors," said ASA's Daniel Clifton, who argues Kerry's intended repeal of the Bush tax cuts means higher taxes for anyone in the burgeoning U.S. investor class.
An ASA study says Kerry voted 15 times to have investors pay higher rather than lower taxes but "has not once voted to reduce the capital gains tax or at least index (it) to inflation," contrary to claims made by his presidential campaign. "Investors have absolutely no reason to believe Kerry will keep lower taxes on dividends, capital gains and IRA's in place given his long record on these issues," Clifton said.
Kerry is campaigning on a platform that includes repeal of Bush's 25 percent capital gains and 62 percent dividend tax reductions.