This article from the Washington Times points out the blatant hypocrisy of Kerry as he promises to "tax the rich." Under his plan, people like himself who are already "rich", will pay very low rates--its the people who are trying to become "rich" by working hard that will be heavily taxed. Kerry's policy: "Don't tax me!!! Tax those guys!!!" Excerpt:

"Sen. John Kerry keeps telling us that "the rich" need to pay more in taxes. The senator and his wife are among the 400 richest Americans. He says that he has "a plan to tax the rich." Under the senator's tax plan, what percentage of the Kerrys' income do you think they would pay the IRS? (a) 50 percent, (b) 40 percent, (c) 30 percent, (d)15 percent. The correct answer is (d) 15 percent.
According to an analysis by the Argus Group, a well respected tax law and economics firm, the Kerrys' average tax rate would only increase by 1.8 percentage points to 15.2 percent under the senator's plan, while many small business people would see their average rate rise by 4.0 percentage points, resulting in effective rates as high as 35 to 40 percent, including certain deduction phase-outs.
Last year, Mr. Kerry and his wife paid only 13.4 percent of their declared $5.5 million income in federal taxes. President and Mrs. Bush, whose income was only 15 percent of the Kerrys', paid a tax rate more than twice as high, 27.7 percent. Despite all of the senator's bombast about the rich paying more, under his plan he and Mrs. Kerry would still pay a lower average rate than most middle-income Americans. As Mr. Kerry's own tax situation shows, he is not proposing increased taxes on those who are already rich — through inheritance, hard work, luck or marrying a rich woman — but is proposing increasing taxes on those who are trying to become rich. His plan proposes to make it more difficult for people to join his club of the very wealthy. If you are already rich, you can tax shelter much of your income, but if you have little in the way of assets, it is almost impossible to shelter your earnings from taxes.
Mr. Kerry's running mate, Sen. John Edwards, also shares this tax hypocrisy. Last year, Mr. and Mrs. Edwards paid an average tax rate of only 5.1 percent on their reported $434,000 of income, or less than one-third of what the average taxpayer pays.
Estimates of the Kerrys' worth range from a low of $700 million to a high of 3.2 billion dollars. How much income would you expect a billion dollars to produce? The Kerrys reported $5 million in income, which is a return of only about one-half of 1 percent, far lower than the return on even U.S. government securities. Obviously, the public is not given the full story on the Kerrys' assets and income. Mrs. Kerry did not release her full returns. For instance, she did not release the part of the return that notes whether or not she has offshore accounts. (Note: It is both legal and proper for her to have such accounts, but her husband has called others with such accounts unpatriotic. This may explain why Mrs. Kerry did not release this information.)
The obvious questions to Mr. Kerry are: How does he justify proposing a tax rate for himself that is less than half of what he expects many young professionals and small business people to pay, many of whom may have little or no assets? How can he accuse others of not paying their fair share in taxes, when he refuses to give full details about his own family financial situation? Does he really expect us to believe his family only earned $5 million on a billion dollars of assets last year?...
Richard W. Rahn is a senior fellow of the Discovery Institute and an adjunct scholar of the Cato Institute."