Subject: File No. S7-30-04
From: John Waller

August 8, 2004


Why does the Federal Government have different definitions of rich?

If I make 200,000 a year, the government wants me to pay as high of a tax rate as someone who makes 200 million a yer.

However, now the SEC, a Federal Government agency run by a multimillionaire, wants to raise the amount necessary to invest with the best investors in the world. I do not believe this is fair.

Thank you.