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John McCain vs. John McCain at Trader’s Narrative

John McCain vs. John McCain

Somehow, for some strange reason a progressive tax system which is what the US has had and which it will continue to have, has been called a “socialist” system by the McCain campaign:

“His (Obama’s) plans are redistribution of wealth.. that is one of the tenets of socialism.”

But as anyone will readily attest, a progressive tax system does exactly that, it “spreads the wealth around”. The only question which the government and candidates haggle over is not if wealth will be spread around, but how much.

By now Obama and McCain’s tax plans have both been picked cleaner than a carcass by a pack of economists from both sides of the spectrum. There is unanimous consensus that Obama’s tax plans will give more money to lower income earners and tax the wealthy a little more. Take a look at this excellent visualization for more details (courtesy of ChartJunk)

So is taxing the wealthy a tad more a bad thing?

John McCain doesn’t think so. Or at least, didn’t used to think so.

Listen as he answer’s a young woman’s question in this following video. She even brings up the “S” word (socialism) and McCain rightfully bats it down graciously.

“When you reach a certain level of comfort, there is nothing wrong with paying somewhat more”

“I think the first people that deserve a tax cut are working Americans with children…”

Where did this McCain go? This version would have stood a chance of actually winning against Obama. This version wouldn’t have given more tax cuts to millionaires while ignoring “working Americans” as his current tax plan does.

Look, I consider myself a capitalist through and through. Having said that, it doesn’t take a genius to see the inherent problem that concentration of wealth presents to any society. We are not a collection of individuals, we are a community, a society and we need to understand that. What is best for 0.1% of the wealthiest shouldn’t be ahead of what is best for the 99% of the rest of society.

For this and (many) other reasons, I’m saddened that as a non-US citizen I can not take part in this US election and vote for Barack Obama.

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11 Responses to “John McCain vs. John McCain”  

  1. 1 Zlatko

    I like McCain’s plan better because it doesn’t increase the tax for anyone. Of course, if the tax decrease doesn’t result in an equal spending decrease, then it doesn’t really matter anyway as you’ll just see the tax take the form of inflation further down the road.

    As for taking from the rich and giving to the poor. I think that is no rational rule to live by. The only reason to take from the rich (or anyone) is if they have amassed their fortune unethically. Robin hood is a hero not because he takes from the rich, but because he takes from those who live off the taxes collected by the extortion of the sheriff.

  2. 2 Babak

    Zlatko, a progressive tax system already does play Robin Hood… that was my point. In any case, John McCain agrees with me ;-)

  3. 3 Russ Abbott

    We Americans foolishly (or thoughtlessly) seem to think that we can get government for free — or that we don’t need it at all.

    The bottom line (as the conservatives like to say) is that Freedom Isn’t Free. That’s why we pay taxes.

  4. 4 tekram

    Every generation has a different idea about what socialism is. To the Herbert Hoover generation, Ronald Reagan would be considered as a socialist, embracing the ideas of FDR such as social security. No Republicans now adays have the temerity or political will to oppose social security, the well known third rail (you touch it you die) of American politics. It is therefore surprising that Republicans want to fight the same battle over the existing progressive tax system. This is a confused and unimaginative strategy on the part of Republicans.

    This confused strategy is worsened by the rhetorics of Sarah Palin on the working class and Joe the Plumber. On the one hand she is the working hockey mom, but on the other hand she and the Republican national commitee spent $150,000.00 in two months on cloth, hair and makeup, a sum that is more than three times what Joe the plumber made the whole year. It is inconceivable that such a common folk message can get through to the average working class white male, but it still does; quite amazing actually.

  5. 5 Paul D. Castro, CFA

    I won’t vote for BO and here’s why;

    Like it or not, this country is still very racist. A President BO stands a better than even chance of being assassinated. And if he is elected POTUS and if he is murdered then, as my Gunny at AOCS used to say, “just stand the hell by” because the race riots that will take place in cities large and small across this country will make the 1960’s look like a Boy Scout jamboree in comparison.

  6. 6 Babak

    Paul, please tell me that was a lame attempt at a joke…

  7. 7 Johan Lindén

    Babak, Very nice clip there! :) Thanks!

    Paul, I think you haven’t seen that society has changed since the 60’s right? We even have black presidents in quite a few movies nowadays. And if people haven’t even killed Bush I don’t think any president will be!

  8. 8 Babak

    Johan, thanks. I hope Paul has a quirky sense of humor because I can’t imagine someone choosing to not vote for someone based on the color of their skin, however it is rationalized. A democracy is based on individuals voting for the candidate’s ideas and platform. Not their sex, their age, race, sexual orientation, religion, etc… at least that is what an ideal democracy should strive towards.

  9. 9 Gary

    “speading the wealth around”… Hmmmm… so ummm… let’s say hypothetically you are the governor of a state that cuts each and every single citizen a fat windfall check just for living there… and let’s say that you take this money from a profitable, productive corporation… would you say that’s socialism?

    ’cause if it is, then Palin is a socialist extraordinaire.

  10. 10 Dustin

    The socialist comments have nothing to do with the tax rate being progressive and everything to do with the fact Obama is proposing to take the money gained by increases on the wealthy to give money to people who pay no income tax. He calls them “tax cuts” but they are more like welfare, because many of the recipients paid no income tax to begin with.

  11. 11 Babak

    Dustin, oh you mean like the way Gov. Palin cuts a check for each resident of Alaska, even if they have no income? so Palin taxing the wealthy oil companies and giving to the poor in Alaska is ok but rolling back the Bush tax cuts for the wealthy is not. Did I get that right?

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