There are different opinions on economics; and everyone is entitled to their view. But as is so often said, they're not entitled to their own facts.
The McCain Campaign has now started on calling Senator Obama a Socialist, a Marxist. It started with the "Joe the Plumber" video and the "redistribution of the wealth" quote. That quote is supposed to show that Senator Obama is socialist/Marxist...even though that quote is consistent with capitalism and modern western economics.
What I don't get is: Where is the immediate, and striking, "slam bam", push back from the Democratic Party, the Obama Campaign and the Progressive Movement? Why are they complacently allowing this new meme to get legs? Why are they not extinguishing this ridiculous rant?
I have watched this new "socialist" attack grow within the conservative, right wing, Republican circles and how it is now being promoted by the center-to-right wing media outlets. The Biden interview in Florida was an example of how far this has gone. Quoting Marx and asking if Senator Obama isn't really a Socialist (read: Commie). GMAB
The many net videos taken at recent McCain/Palin rallies showing people entering the rallies yelling about Senator Obama being a Socialist, Marxist or communist ....are further examples. This is spreading throughout the entire right wing world. (BTW.... I thought Senator Biden handled his interview extremely well....by calling the interviewer out for asking outrageous questions. But that should have been preceded by, and backed up by, a major push back from all Democrat Party and Obama Campaign surrogates.... as well as Senators Obama, Reid and Pelosi.
Let's all get clear on these new accusations of socialism:
THESE "SOCIALIST" RANTS ARE TOTAL BULLSHIT; PROGRESSIVE TAX RATES ARE NOT SOCIALISM, THEY ARE THE CORNERSTONE OF CAPITALISM AND OF MODERN AMERICAN ECONOMICS.
It is time to put this Idiocy to an end.
Ok....here is the argument.....Here is the Push back:
- America has a progressive tax system. It always has. This system charges the wealthy..those with greater income, with a higher tax on their income. The Government then spreads the benefits of the taxes equally amongst all citizens. This is our system. PERIOD.
- This progressive tax system is the foundation of modern economics as expounded by Adam Smith in his Wealth of Nations and argued extensively by our founding fathers. Adam Smith is the father of our western economic theory, the father of "Capitalism". He recommended a progressive tax system as a central element of his Classical Economics which form the basis of modern Captialism. He was against socialism.
- Changing or adjusting the rates and the threshold income levels, the "steps" in the progressive tax system, is NOT SOCIALIST. (If it was, then every American government and every successful American political party, since the16th Amendment in 1913, which authorized the modern American income tax system, on a progressive basis, would be SOCIALIST.
Progressive tax systems are not the opposite of Capitalism, they are part of modern Capitalism.
One final comment to all conservatives, Republicans, and Fox News right wing news outlets who are promoting this rant:
Go read a book on America, on Capitalism, on economics, on Adam Smith, or on progressive tax systems. Get educated..... at least, read the first few paragraphs of any explanation of any of these subjects. Or...go get a damn enclyclopedia. Or..."Google" on one of these subjects. Get some clue as to what Capitalism is and how integral progressive taxes are to Capitalism. Get some clue as to what you are talking about... or else STFU.
Addendum....for those interested.... a touch of history:
The first income taxes in the US started in 1861,with the Revenue Act of 1861. It was necessary to pay for the Civil War. These were progressive taxes...3% if you made over $800 and 5% on income over $10,000. In 1913 the 16th Amendment was ratified bringing in a new income taxation system... also a progressive tax. In 1918 the top rate went up to 77% on income over 1 million dollars, to help pay for World War I. This top rate was slowly reduced over the years, but then was raised to 94%, on all income over $200,000, to help pay for World War II. Rates have gone down and up since then, many times, with current top marginal rate being 35%.
Socialism name calling only is coming from those who are ignorant.