Tuesday, October 21, 2008

both US presidential candidates support redistribution of wealth

Daniel Schorr's commentary today on NPR made alot of sense. His premise - both McCain and Obama support redistribution of wealth. McCain wants the free market to continue to concentrate wealth in the richest American's hands. The OECD's report, out today, once again shows America's wealth is further concentrating in fewer and fewer hands.

Obama on the other hand, wants to redistribute the wealth, "spreading it around" from the richer few (over $250K) who can pay more to others who can pay less. Maybe someday, when I am a rich greedy S.O.B. making more than $250K / year, I'll feel differently... but right now... I don't like McCain's "free market" (LOL) paradigm that keeps making the rich richer, and the poor... more plentiful, poorer, more desperate, and more dangerous.

1 comment:

  1. Well, McCain wants to tax your 250-thousandth dollar at a rate or 35%, which apparently is still capitalism, but Obama wants to tax your 250-thousandth dollar at a rate of 39%, which is apparently the same as socialism. But it wasn't socialism in the late 90s when the economy was good. And no one's told me what the status is of possible 36%, 37%, or 38% top marginal tax rates. Which ones are socialism and which ones are still ok? I'm pretty confused.


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