The Republican argument of the moment seems to be that the difference between capitalism and socialism corresponds to the difference between a top marginal income-tax rate of 35 per cent and a top marginal income-tax rate of 39.6 per cent. The latter is what it would be under Obama’s proposal, what it was under President Clinton, and, for that matter, what it will be after 2010 if President Bush’s tax cuts expire on schedule. Obama would use some of the added revenue to give a break to pretty much everybody who nets less than a quarter of a million dollars a year. The total tax burden on the private economy would be somewhat lighter than it is now—a bit of elementary Keynesianism that renders doubly untrue the Republican claim that Obama “will raise your taxes.”
The Thin Line Between Socialism and Capitalism
10/28/08, 8:34 pm EST
Comments
Cjay79 | 10/29/2008, 4:25 am EST
The RNC presidential campaign’s approach on taxes is reprehensible. “Don’t deal with the numbers, lets get ‘em scared first!”
TinFoilHat | 10/29/2008, 1:07 pm EST
Notorious anti-Semite businessman Henry Ford knew a little something about commerce. When asked why he paid his auto workers higher than average factory wages, he replied that he wanted US workers to be capable of purchasing the product.
Henry Ford understood the economic power of the middle class. Why don’t modern Republicans understand this? Why do they cling to this “tinkle-down” BS?
Sallad | 10/29/2008, 1:50 pm EST
I think it’s a class war. They want to have a ruling elite holding all the money and power.
CCo..ISP | 10/29/2008, 3:18 pm EST
Tim, your point is well-taken, although you’ve simplified the issue to an unacceptable degree. While I’m NOT inherently against Obama’s progressive tax plan, I think it’s going to have some unintended negative effects on the upper middle class and small businesses. The rhetoric coming from a good deal of Republicans (and some Democrats) has been, at times, rather moronic though.
And Sallad, as the ridiculous amount of money the Obama campaign has raised should show, there are a great deal of ruling elites on the left, and they are no friend to the middle/lower class either.
Coach | 10/29/2008, 3:56 pm EST
Typical CCo Propoganda…….
Deflect fault from republicans, and put some of it on democrats…
Just look at the economy the last time we had a democratic president. Middle class income rose. GDP didn’t fall…..
Merkwurdigliebe | 10/29/2008, 4:29 pm EST
Coach– We also weren’t fighting a two front war, and we also weren’t experiencing a economic crisis, whilst heading into a recession, and our corporate taxes were lower (which helped with job growth), and we also still had a modicum of regulation…we also were in the beginning of the problems that fully manifested themselves when the market just crashed, so I wouldnt gloat too much…
CCO is hitting on a good point…with everything Obama is proposing, something doesnt add up…simply raising taxes on the wealthiest 3 percent, while giving kickbacks to those who didnt pay for it in the first place, doesnt seem like a sound policy in unsteady times, and at best isnt going to cover what he’s proposing, and at worst will adversely affect small businesses which Obama aims to help
here’s a solution; cut spending, reform wasteful spending, regulate in moderation, but in general keep the govt out of the way, and let the market right itself…when, if ever, have taxes solved anything?
DirtyDennis | 10/29/2008, 6:08 pm EST
Jeez Merk, I doubt he was gloating. And just WHOSE fault WAS it that there was a two-front war (expanding to four) as well as the economic crisis?
I really think Coach was/is saying that whenever the Cons get their hands on things, they go to hell in a handbasket. Your citation of events merely serves to reinforce the point.
Jobs going overseas? GOP!
New Olreans debacle? GOP!
Record National Debt? GOP!
Record Foreign Debt? GOP!
Gas prices up? GOP!
Merkwurdigliebe | 10/29/2008, 8:54 pm EST
Dennis– Careful, the dems had their hands in a lot of those problems as well…it was Clinton and the Dems that signed the Free Trade Agreements that allowed jobs to go over seas (although, in the era of Globalization, this may be hard to stop and a natural symptom therein anyway), New Orleans was a combined failure of Democratic state/local govt and Repbublican federal govt, and gas prices is infinitely more complex than just blaming the repubs…I tend to see a continual timeline of blame that starts with Dems in the early mid-nineties and then shifts to mainly repub hands with the dems going along, to the dems once again…a timeline of general corruption and ineptitude on both sides
to be fair, you’re right on the money with the other two, which is why I wont be voting McCain in a week…and the looney tax/economic scheme is why I wont be voting for the Dem side of the column.
tajed clempt | 10/29/2008, 9:04 pm EST
Coach, no one is blaming democratistas. We the people are blaming YOU! Sticking your tu-murang in dikklikker’s pinto-basket is what makes gas prices so high with all that lubrication you be using. I was/am saying that it doesn’t matter WHOSE in POWR, if all these shenanaganistas are held up by Cjay79’s latte-froth.
CCo..ISP | 10/29/2008, 9:33 pm EST
DD
Wrong:
Market
Local government/FEMA
GOP/Democratic Congress
Both parties
Market/Congress
I don’t know if you’re aware, but public policy and economics are not solely driven by the Executive. Get some perspective.
Cjay79 | 10/29/2008, 10:24 pm EST
Just popped back for a moment(Not sure if I get what Tajed was saying about my point, but if you come back Tajed, please explain?). I was writing about something and wanted to put some links in regarding “Joe the Plumber”, to illustrate that he may be better off with Sen. Obama’s tax policy or Sen. McCain’s: I can’t find a single non-campaign quote that suggests that Sen. Obama’s tax policy wouldn’t do Joe better. If anyone can find it, tell me what I should be Googling!
DirtyDennis | 10/30/2008, 6:46 am EST
My, now I see how revisionst histories are created.
The GOP controlled ALL branches of the gov’t for six years. They sure didn’t need any Dems to go to war or ignore existing market regulations.
Very soon it will be the Dems fault for NOT stopping the Right from ruining this country.
And you’re right, the LA/NO local gov’t was partly to blame for thinking the U.S. gov’t would help them.
Fortunately, REAL historians will be responsible for accounting the facts. But I have to hand it to you guys, you repeatedly play into the hands of the Right. At this rate, in a couple of years, everything that happened in the first decade of this century will be the fault of the Dems.
Mushroom clouds, anyone?
Good job Brownie, anyone?
Sallad | 10/30/2008, 10:15 am EST
While the left still may not be a good friend to the working people in America, they’re still friends. And,it seems to me, that the right would like to return to the days of kings and nobles and surfs and servants, all in the name of Jesus.
Coach | 10/30/2008, 1:21 pm EST
I hear you DoubleD.
After this election, the lunatic fringers will start spewing things that lead people to believe that it’s the Democrats’ fault for:
9/11 (whoops, they’re already blaming that one on us)
Iraq
Russia
Ports
Tort ure
Health Care
Wiretapping
Rendition
Deregulation
Shoddy American Auto Industry
Gas prices
Environment
It wasn’t so bad when Repukers held power for 6 years, but it’s going to be bad when Dems get it??????
This one’s for Dr. Ralph: CHOKE ON THAT SUCKERS
DirtyDennis | 10/30/2008, 2:17 pm EST
Coach,
The price of gas WILL go up after the election. It was lowered to remove the heat from the Cons. But you can bet it’ll be the Dems fault it went back up.
Stevie K | 10/30/2008, 3:34 pm EST
Tim, put the Kool-Aid down. Spreading the Wealth around is not about percentages. It’s about Robin Hood-o-nomics. Do you really think in your heart of hearts that it’s possible for anyone to spend more than we have without borrowing or raising taxes? I know lots of folks think raising taxes on the other guy is OK but did you ever get a job from a poor man? We need jobs not blabber from the radical left elites.
TinFoilHat | 10/30/2008, 4:12 pm EST
The Bushies have had 8 years to distribute the wealth the way they like it. The result? Unprecidented income disparity and the virtual elimination of the middle class. Its about time this was UNDONE, don’t you think?
Sallad | 10/30/2008, 4:17 pm EST
I love how the right wingers have stolen just about every campaign theme that the left has put forward this cycle. Now I’ve got righties talking my ear off everyday about the need for more jobs. Where have you been, righties? Oh, that’s right giving breaks to companies that are shipping production jobs overseas. McCain keeps talking about change. Really? Yep, really. The republicans in Congress suddenly support market regulation….the list could go on and on.
DirtyDennis | 10/30/2008, 5:02 pm EST
Sallad,
(Is that your name or has it other meaning?)
When has the Right EVER taken responsibility for anything? JFK took the heat for the Bay of Pigs (even though he inherited it from Ike), LBJ took the heat for Nam, (even though it was a direct result of the McCarthy red-baiting and started, oh, by Ike) and Carter took the heat for the economy, that he inherited from Nixon/Ford.
The ONLY Con to ‘admit’ responsibility in the last 50 years was Reagan: the Marine Barrack bombing in Beirut was ‘his’ fault. What a man. What a party. What a crock.
Sallad | 10/30/2008, 5:33 pm EST
An old nickname with a few meanings. But, really it’s just my name backwards I used to post on here as DeezNutz.
And, yeah, I hear you. I’m still relatively new to the political arena, but it didn’t take long to figure out who was more full of s#*!. I still think in a perfect world we’d vote out both parties and fill the White House and Congress with ordinary citizens who don’t have all the fat cat connections. But, until then I’ll vote for the man or woman who I think is the most honest about what our country needs and who can inspire Americans to stop digging and start climbing out of the hole we’ve created for ourselves. They just happen to be a majority of Democrats. This year more than ever…
DirtyDennis | 10/30/2008, 5:43 pm EST
Sallad,
I like that name better. I’ve often imagined how ‘nice’ it would be if we could get ‘real’ people into politics. Then I look around at WalMart and the motor vehicles office and think, maybe not.
I guess the truth is, they ARE real people, just real people gone bad. Sounds like good fodder for a TV show.
Sallad | 10/30/2008, 5:54 pm EST
Lol!! That Wal-mart remark really cracked me up. I think you’ve got a point.
I suppose what we really need is transparency in government…and a media that will look deeper than the surface of things…
DirtyDennis | 10/30/2008, 6:23 pm EST
transparency would be good. So would accountability.

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