Posted by
ticketac on Tuesday, October 28, 2008 1:25:22 AM
John McCain has been repeating the mantra of Barack Obama's
redistribution of wealth and its "threat to the middle class." There is
another redistribution of wealth which began in 2001 when President
Bush provided very modest tax cuts to lower incomes and huge cuts to
the wealthy.
At the time, McCain opposed large the tax
breaks to the wealthy and declared them unfair. What a difference seven
years make. In 2008, McCain proposes an additional tax cut of $269,364
to an individual earning $2.87 million; while the person earning
$18,981 receives a tax cut of $19 (half a tank of gas for a small car).
Barack Obama proposes a tax increase of
$701,885 on the earner of $2.87 million and a tax decrease of $567 on
that person earning $18,981.The redistribution of wealth to the rich
that Bush began McCain plans to continue.
Redistributing tax rates to approximate
those of the Clinton years is Obama's plan. What was the effect of the
creation of the super wealthy class of the Bush administration on our
economy and our country? How does passing tax benefits from the very
wealthy down to the middle class hurt the middle class? In my world,
the Obama redistribution of wealth is both fair and good for the
country.