The Least, First

Monte Asbury's blog

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Is it honest to call it “socialism?”

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Morning Joe

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The S-word is back.

For example, watch Morning Joe get exercised about the stimulus proposal’s tax refund to people of low income, followed by analysis from ThinkProgress:

clipped from thinkprogress.org

Joe Scarborough: Obama’s Trying To ‘Buy Off People’ With ‘Pure, Straight Socialism’»

SCARBOROUGH: “You’re not going to get Republicans to line up and support tax cuts for people who don’t pay taxes […] It’s not even welfare. […] If you want pure straight socialism, if you want to buy off people, do that.”
There are enormous problems with this analysis. First, Americans benefiting from the tax cut do pay taxes — sales taxes, payroll taxes, social security taxes — even if they don’t pay income tax. In fact, those in the lowest income bracket pay about 4.3 percent of their income to federal taxes. […]The tax credit isn’t some kind of charity; it’s one of the most effective kinds of tax cuts in terms of stimulating the economy. Moody’s chief ecomomist Mark Zandi showed that the refundable tax credit gives the economy a far greater “bang for the buck” than non-refundable tax cuts, corporate tax cuts, or making Bush’s tax cuts permanent, the “solutions” proposed by conservatives:
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Follow the link for Zandi’s numbers.

Meanwhile, if the tax refund plan is indeed a refund, and if can be shown to be among the most quickly effective tax changes for stimulating the economy, isn’t it what we’re looking for?

And didn’t they teach us in high school that socialism was when the government owns the means of production?  Just how is it that tax refunds accomplish that?

I don’t recall learning that when poor people spend tax refunds at American businesses, capitalism is on the way out.  It would seem just to have just the opposite effect.


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