John Edwards' War Against Prosperity
John Edwards Changes Campaign Theme from “Two Americas” to “War on Prosperity”
Washington – If there is any lingering doubt about John Edwards’ bristling hostility towards economic growth in this country, all doubts should be laid to rest with John Edwards’ announcement of yet another tax hike today. In a desperate attempt to drive home his lefty bona-fides and revive his faltering campaign, John Edwards is promising to raise the capital gains tax from 15% to 28% if elected president.
As John Edwards continues to wage a political war against prosperity, his campaign platform is looking more and more like Karl Marx’s wish list:
- Terminate the Bush tax cuts
- Raise taxes at least to Clinton-era levels
- Impose socialized medicine in America, to the tune of $120 billion
- Punish the private equity industry with new taxes
- Support anti-trade protectionist policies, including opposition to the pending trade treaty with South Korea
- Choke off entry-level job growth by raising the federal minimum wage
- Diminish the prospect for worker productivity gains by raising capital gains taxes to 28%
“Perhaps John Edwards was too busy learning how hedge funds work to recognize the economic prosperity caused by the 2003 tax cuts over the past four years,” said Club for Growth President Pat Toomey. “Since 2003, unemployment in this country has tumbled from a high of 6.1% to a low of 4.5%, while the economy has gained 8 million jobs since its low point in August 2003. At the same time, revenue from capital gains taxes has shot up over the past three years and continues to flow into the federal coffers at an astonishing rate, bringing us to the threshold of a balanced budget today. One would think Edwards would be interested in keeping the economy strong, unemployment down, and balancing the budget, but maybe he cares more about pandering to his far-left base.”
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