Posted on 07/02/2008 4:57:44 PM PDT by rabscuttle385
For those who like the politics of redistribution, Sen. Barack Obama is their man. The presumed Democratic presidential nominee's plan would soak the richest Americans and spread the wealth around.
Economist Scott Hodge, president of the Tax Foundation, has looked at the Obama plan and found that it "would redistribute more than $131 billion per year from the top 1% of taxpayers to all other taxpayers."
$131 billion. In one year. That's the value of Intel, bigger than Coca-Cola and just below the market caps of Cisco and ConocoPhillips.
It's enough cash to fund the Education Department for almost two years or the entire Defense Department for nearly three months. And remember, this isn't the overall tax bill for the top 1% of taxpayers — it's just the amount beyond their current taxes that they would have to pay under the Obama plan.
(Excerpt) Read more at investors.com ...
Socialism 08!
I want to scream.
I have a JOHN GALT 08 bumper sticker.
Who is John Galt?
Or, to put it in my simple-minded way, there would be less money spent by the wealthy, less jobs for the workers, and more poverty for the poor. (See, told you I was simple minded.)
COMMUNITY BASED INITIATIVE, your tax dollars being filtered thru minority churches for redistribution and profit. One of the many scams we can look forward to with a marxists president and a moronic liberal progressive congress. One more entitlement program for fun and profit! NOT OUR FUN AND DEFINITLEY NOT OUR PROFIT
Despair.
What’s wrong with communism? It’s not a bad word.
It sounds great in theory and in textbooks. No hunger, no poverty, everyone lives together in a utopia.
Let’s try it...
Sounds like Michigan for the last 30 years. Now add on top of that that anyone actually making a “profit” will be subject to windfall taxes and prosecution for trumped up crimes, and that’s Obama’s America.
I’d like to see a thread “In Obama’s America....” fill in the blank.
Just think of it, my parents escaped a third world rathole to bring me here. Now the third world rat hole is about to arrive here. Once a nation goes down that road, recovery is near impossible. Study the history of Argentina, the fifth wealthiest country in the world at the turn of the century. Once the peronista socialists and the mainstream socialists got a hold of it there was not turning back. It has been descending into the pit of irrelevance ever since. Just ask Obama how much he admires Zimbabwe or would anyone dare. Zimbabwe, that is the model they are all trying to imitate. Conservatives want prosperity, socialists want equality, you can’t have both. The only true equality is in the grave and that is where they eventually lead us.
I thought they hadn’t yet finished Atlas Shrugged the movie........
maybe they don’t have to, I’m watching it play out in the evening news.
quién es Juan Galt ?
Arrrrrgh !
Tell me about it. My parents fled a Communist rathole and a banana republic to come here.
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