The Least, First

Monte Asbury's blog

The absurdity of yelling “Socialist!”

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In 1964 the top marginal rate was 91%. Obama proposes 39.6% (it’s 35% now), which is what we had in the deficit-free Clinton years. It’s less than half what it was under LBJ. If that wasn’t socialism, half of it certainly isn’t!
clipped from

AMY GOODMAN: Well, is Barack Obama a socialist?

RICK MacARTHUR: Barack Obama is a socialist like Harper’s Magazine is a media conglomerate. It’s the most preposterous charge I’ve heard in a pretty crazy campaign
But it’s even more absurd when you realize that
they’re all socialists now
remember, the top rate in 1964, the last time we had this kind of crazy debate between the Goldwater Republicans and Lyndon Johnson, the top marginal rate was 91 percent. Barack Obama is only proposing to raise or restore the top marginal rate from the current 35 percent to 39.6 percent, which is what it was under the Clinton administration. This is a very modest, very, you might even say, timid response to what’s, in the last fifteen years, been a redistribution of wealth from the bottom up to the top.
What is the mortgage crisis, except Wall Street picking on people
who are not very well educated about the finance market, and
robbing them
That’s redistribution of wealth, upwards.
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Written by Monte

October 26, 2008 at 9:09 pm

Posted in Politics

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