Edwards says would consider more taxes on rich

By Adam Tanner

SAN DIEGO (Reuters) - Democratic presidential candidate John Edwards said on Sunday he would consider raising taxes on the wealthy in addition to his earlier proposal to roll back tax cuts ushered in by President George W. Bush.

Earlier this year, Edwards became the first Democratic candidate to embrace taxes hikes to fund an ambitious health- care plan he estimates would cost from $90 billion to $120 billion a year. Under that plan, he would eliminate tax cuts Bush implemented for those making more than $200,000 a year.

The former one-term senator from North Carolina told reporters at the California Democrats' annual convention he would also consider additional taxes on the rich beyond that.

"I think it is worthy of consideration," he told a news conference. "We have gone from a record surplus to a record deficit and I think there are some judgments the next president will have to make."

Presidential candidates typically avoid speaking about tax increases in fear of alienating U.S. voters. In 1984, former Vice President Walter Mondale suffered a landslide defeat to Republican President Ronald Reagan partly attributed to Mondale's admission he would raise taxes.

New Mexico Gov. Bill Richardson, also a Democratic candidate for president, quickly distanced himself from any such rise in taxes.

"Democrats, whenever he have a solution, we want to tax," Richardson told a news conference. "I'm different. I'm a tax cutter. I believe you use the tax code to reward entities that do well, that do right, that create jobs."

The Democratic candidate for vice president in the 2004 election, Edwards said he also favored a windfall profits on oil companies to help bring in $3 billion for his energy plan.

"I think windfall profit taxes for oil companies make sense," he said after addressing about 2,000 Democratic activists in San Diego's convention hall.

Delegates cheered Edwards' well-polished speech but gave an even heartier embrace to Sen. Barack Obama of Illinois who spoke on Saturday.