Graham Formula For Floridians’ Financials Falls Short

A Statement By 60 Plus Association President Jim Martin

Arlington, VA – A recent poll shows Florida Senator and 2004 presidential hopeful Bob Graham trailing President Bush by 12 points in his own home state. I have little wonder why.

Another poll, a 2002 Zogby exit poll, showed that nearly 60% of Floridians — in particular — voting Floridians, had a 401(k) or other investment vehicle. These are people who appreciate the money they’ve earned and hold hope that wisely investing it may reap even greater sums. They also understand that government taxing their retirement incomes has a negative impact on growth potential.

So on the one hand, we have a President who has boldly slashed taxes on dividends earned from retirement investments. He has also cut capital gains taxes and forced a hard-earned victory for the repeal of the miserable, job-robbing death tax. And then we have a tax-and-spend candidate like Graham who wants to repeal these tax advantages under the same tired guise of Republicans giving tax breaks to the wealthy. What nonsense.

Florida has taxpayers holding the third highest amount of dividend income among the 50 states. Many of these folks are oldsters like those I’m proud to have as members of the 60 Plus Association. These are seniors who have significantly benefited from increased quarterly dividends brought upon by the tax cut President Bush signed into law on May 28th of this year. And now native son, Senator Graham, would have this investor confidence halted. Little wonder he’s trailing so badly in early polling in his own home state.

As American Shareholders Association Executive Director Daniel Clifton said recently, “President Bush’s tax cut is changing corporate behavior, re-empowering shareholders and boosting economic growth. 70% of voters in the 2004 elections will be investors. Why would any presidential candidate want to reverse the recent stock market gains, slow the economic recovery, and take a position that is vehemently opposed by 70 percent of Americans?”

Why, indeed?