Obama wants to increase taxes on the top 5% of American earners. And if he’s elected, dollars to donuts says he’s going to delay that as long as we’re mired in the economic quicksand. He can’t change his position now, because middle class America needs a villain (the top 5%) as part of the incentive to vote for him.
Let’s put Joe, who’s not a plumber, and has a tax lien against him, aside for a moment. Obama’s proposed “redistribution” is a variation of the progressive tax code that’s been in business since the IRS was created. No big deal.
The Republican’s idea of a bailout, as proposed by Bush and Paulson, was supposed to take taxpayer money and use it to establish a market that would slowly but surely get the toxic paper out of the system. Instead, taxpayer dollars are being REDISTRIBUTED and used to prop up the banks by buying stock in them and raising their share price, thereby increasing the net worth of the same avaricious knuckleheads who caused this mess in the first place, because those knuckleheads still own company stock and options.
Add to that the fact that some of those financial institutions, which were formerly high flying investment banks, just can’t get that “big bonus regardless of how we perform” mentality out of their self-centered craniums.
Old greedy habits die hard.
So the Democratic candidate proposes a variation on the theme that has been in place for generations while America grew, and he’s labeled a socialist.
The Republican administration pulls the rug out from under the ostensible intentions of the bailout, and REDISTRIBUTES taxpayer dollars to prop up the culprits, while shamelessly allowing them to continue their end of year bonus system.
Looting, white collar style. Instead of breaking a window and running out with a TV, break the backs of working Americans and run out with a wad of cash.
That’s Republican REDISTRIBUTION.