OK, so the most recent attack on Obama is that he is a socialist or promotes socialist policies. You know, he wants to "redistribute the wealth."
Tom Ridge, speaking as a surrogate for McCain, had a great exchange with Chris Matthews last night. Matthews took him to the woodshed while asking if progressive tax policy is socialism. Ridge threw in the towel and said, "Chris, you know the answer is no." It will be interesting to see if Ridge’s new talking point will have legs on the campaign trail.
Talking point, video, reality, and pretendland after the jump...
Talking Point: Ridge explained that Obama’s tax plan creates a financial and aspirational ceiling due to the tax burden that he would place on people making over $250,000.
Here’s the video:
http://www.msnbc.msn.com/...
So let’s start with the reality of an Obama tax break for me. (All numbers based on Obama’s Tax Calculator, so I’m probably lying).
I am not Joe the Plumber, Joe Six-Pack, or Jane Six-Pack. However, I am firmly stuck in the middle class. I work 1.5 jobs (about 60 hrs per week) so that my wife can stay at home with our two children. I have two crappy (average 10 year old) cars. I’m living in a two bedroom apartment while my house sits on the market on the other side of the state.
Don’t feel sorry for me. I’m actually in good shape. I have a stable job. My house will close in two weeks. I drink microbrew beer and expensive scotch (I might be Joe The Beer Belly). I also think that we will take a family vacation to Disney World in January. I make "good" money. With consulting (that extra .5), I make about 1/3 of the magic $250k threshold.
Obama’s tax plan will give me an additional $1800 tax cut. Wow. That’s cool. I don’t desperately need it, but I will put that to good use.
McCain’s tax plan will give me a $120 tax cut (no, I am NOT missing zeros). I will have an additional penalty because I am the worst of the worst as far as liberals go. I am a college professor in teacher education. Since I have the "Cadillac" of health care plans, I will be taxed on that too. Wow. That sucks. I guess my wealth is being redistributed to those making more than $250k.
Now, lets take a hypothetical trip to Ridge/McCain/Palin fantasy land.
I’m not satisfied. I aspire to be great (you know, in the top 5% - because you can’t be great if you are not rich). I have been told that if I just work harder, I’ll get there. Lucky for me, I have a good idea too. I am going to make Middle Class Action Figures.
I founded McFigures ™. We have a great line of Joe the Plumber, Joe and Jane Six-pack, and McPalin action figures. You can accessorize with plungers, plumbing snakes, bloody moose, and matching NASCAR jackets for the Six-Packs. I make products to fit every stereotype! Sales are great. I’m making a profit of about $240k per year. I am almost there! I can now buy THREE TIMES as much as what I could in my "reality." I own SIX crappy cars and I’m taking the kids to Disney World three times next January!
I have a new opportunity. I just heard Cindy McCain say, "We are all Joe the Plumbers." I can start a new line - Cindy McCain action figures! Complete with 7 or 8 houses (depends on the box), a garage full of cars, and a private plane. At a minimum, this line will give me an additional profit of $40,000 dollars!
But wait. There is a catch. Obama, the socialist, passed his tax plan. We now live in the United Socialists of America. If I go over $250,000 in profit, I will have an enormous tax burden. Here are my choices –
- Don’t take advantage of the new opportunity. Be content with $240,000. Get an $800 tax break from Obama (Compared to $224 from McCain)
- Take advantage of the opportunity. Bump my PROFIT up to $280,000. Of course, that means that I will have to pay an additional $700 or so in taxes over 2008 levels. I don’t get Obama’s tax credit for small business because I outsource all of my production to China.
The choice is clear. I AM NOT A SOCIALIST. I pick option one. I do not want my hard earned wealth being re-distributed to people that don’t work as hard as me. It just isn’t worth making Cindy McCain McFigures if I’m only going to get an extra $39,300 in profit. I have hit the aspirational ceiling.
Umm....ok.