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Pretty Economic Pictures for the Illiterate Masses

Obama is a Socialist Witch! Rabble Rabble Rabble.

with one comment

At times, I simply cannot stand politics.  I try my damnest to avoid the gossip and emotion filled idiocy that occupies the political areanas and instead focus on underlying issues that are too often discounted in the name of team loyalty. But the latest battlecries of “Socialists!” is an accusation of which I cannot ignore.

What is especially bizarre from this latest round of unpatriotic charges is the timing.  With Corporate bailouts, housing and banking nationalizations and the federal reserve pumping out credit on an unprecedented scale, to suggest that Obama is somehow equivalent to a ‘Communist takeover’ is quite silly, really.

In America, and any wealth distribution in a capitalistic system in general, economist would regard a progressive tax structure (i.e. redistribution of wealth…i.e. damned socialist!) as unexceptional.  Adam Smith’s 1776 work, The Wealth of Nations (the Holy Bible of capitalism), recognizes the necessity of a progressively structured taxes.  Specifically,

“The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. . . . It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.”

                – Adam Smith, Wealth of Nations – via The New Yorker, 10/28/08.

I wish more people would focus on the mundane issues and leave the mob mentalities to themselves.  There are genuine differences that need to be debated in terms of distribution of wealth and power.  I truely believe the vast majority of Americans recognize the potential disasters that can arise from certain interest groups gaining too much influence in society. Be it private or public sector tyranny.

Let’s not resort to political witch hunts this Halloween.

M…

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Written by eastwood24

October 31, 2008 at 7:43 pm

One Response

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  1. I fact the money will never go to the less than better off. It will just go to a slush fund that they will put in the hands of his bully buddys Acorn. There is no way to do what he wants. We as Americans give and run so many places that use donations. We have groups that do good work and This man is only out to control the country . We have a system the is a set check and balance . We dont need Big Brother doing it for us. The democrats have had the house for 2 years that is when the bottom started to fall out. He has too many unanswered questions for me. I do know you dont raise taxes when you have a weak dollar. You cut both taxes and spending. This will give you the buying power so goods are bought so the retailer pays taxes the wholesalers pays taxes the both make more money and hire more so it grows the economy. So think is it better to raise or lower. I was taught you work hard you save you grow. There are no free rides and the US Gov is not a cash cow.

    sfokc6125

    October 31, 2008 at 7:51 pm


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