Here's yet another FOX News Bubble Head trying to defend the fort. In this clip Megyn Kelly is trying to push the narrative that Obama will bring socialism to America because of his tax policies ...
Megyn ignores, forgets, or never learned several things regarding tax policy and democracy in America. Specifically, we've always "redistributed" wealth in America ...
1. COMRADE REAGAN? Ronald Reagan supercharged one of the most successful "wealth redistribution" policies in this country, when he took a modestly funded Earned Income Tax Credit program and provided more funding. In an effort to move families from welfare to work the EITC takes money and shifts it to the working poor. Its success has been touted and embraced by Conservatives and Liberals alike (since it was started in 1975). If we take FOX News at their word, or embrace their logic, we should all say "Thank You Comrade Reagan" for putting teeth into the program ...
2. COMRADE McCAIN? John McCain vigorously opposed George W. Bush's tax cuts for the rich in 2001 and 2002. He thought it was unfair. Obama's policy proposals simply take America back to tax rate levels John McCain defended 6 years ago. As I asked in another post several days ago, does this make John McCain a socialist too?
3. COMRADE ADAM SMITH? The spiritual godfather of capitalism, Adam Smith, was big supporter of a progressive tax system, calling on the most successful to pay a little more (as did Teddy Roosevelt). Specifically, Smith recommended higher road tolls on luxury carriages so “the indolence and vanity of the rich” could contribute to larger societal goals.
4. COMRADE BUSH? George W. Bush redistributed America's wealth when he took Bill Clinton's surpluses and handed them over to America's wealthiest class. This has to rank as one of the greatest transfers of wealth in human history. What Obama is proposing simply says, let's get some of that money back because Bush's "tax cuts for the rich" policies have been a disaster.
There's more, but you get the point. FOX News is a joke.
- Mark
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