10.23.2008

IN PRAISE OF COMMON SENSE

BY CINCINNATUS

One of the critical elements to the Obama campaign’s success up to this point has been its masquerading of the most liberal man in the US Senate as a centrist tax-cutter. They have applied Tax Break For Those Earning Less Than $250K™ brand lipstick to their pig and paraded him from state to state and talk show to talk show to tumultuous cheers and lustful catcalls from blue-state, working class voters. This is not a new strategy for Democrats, who have always had to surreptitiously sneak to the center in the general election. That Barack Obama seems to have pulled it off is saying something, however, considering how far he tip-toed from the Left to get there without getting caught. As has happened often in this nation’s electoral history (Jimmy Carter pops to mind), disenchantment with the sitting administration has led many to cover their eyes and ears, voting more out of blind hope (Obama’s particular brand of “hope”) than good old-fashioned American common sense.

So let’s tear off the blinders and use a little bit of that common sense, shall we? Let’s talk about Obama’s plan to shower tax breaks on the “middle class” and soak the “rich” with the bill. Thanks to a vigilant citizen, Joe the Plumber, this plan has been exposed for what it really is: income redistribution, or socialism. But it’s much worse than that. It’s also a formula for inflation and joblessness in the face of an oncoming recession. Senator Obama has been able to divert a lot of attention away from the real issue with his $250K cutoff dog and pony show. He’s rolled out arbitrary figures, arguing that the 95% of Americans who make less than that $250K figure will get a tax break, while the other 5% will do their “patriotic duty” and shoulder a much heavier tax burden. The central theme of his tax plan is the standard Democrat tactic of class warfare. Obama will be President Robin Hood, robbing from the rich to give to the poor (or middle class, whatever…). But Senator McCain hit the nail right on the head when he asked in the final debate, “Why would you raise anyone’s taxes right now?”

While lower and middle class Americans may sometimes take secret delight in seeing the wealthy get punished out of our primeval sense of jealousy, we need the rich and the upper class and the businesses they run. When presented with Obama’s tax plan, most Americans think that because they don’t make over $250K they’ll come out ahead, and who cares about the people that do? But the fact is that the "people that do" provide us with jobs, goods and services, advances in technology and science, and a multitude of other things fundamental to our national economic health. When they pay more in taxes, they will not and cannot absorb the added cost themselves. They will do one of five things: fail and close up shop, move their business overseas, increase the price of the goods and services they provide to the consumer, reduce wages and benefits for their employees, or layoff their employees. Who suffers as a result of any of these five things? Why, the lower and middle class, that’s who (do a mental exercise and think: does your employer make over $250K?). And usually this just contributes to a period of inflation and recession. But during a period of inflation and recession, this is an absolute disaster. What will Barack Obama do once the dominoes start falling and poverty and joblessness are on the rise? Blame the Republicans? Blame the rich and corporate America? How useful is that to you? I suppose the poor and jobless will at least have their government furnished health care, so perhaps we’ll have the healthiest poor in the world, for whatever it’s worth.

How is it that Senator Obama is somehow perceived as better on the economy? Simply because he’s not a Republican? For some voters, that’s all they need to know. While I sympathize with their reasoning, I’ll have no pity for them if they get what they want but don’t want what they get. Bottom line: Senator McCain has it right. Don’t raise anyone’s taxes right now, even the Satanic, puppy-hating rich.

2 comments:

Hariolor said...

If we must raise taxes (and sadly we will have to in the face of idiotic government spending), how's this for a "fair" way to assault the top earners. Anyone who earns more than, say, $1,000,000 a year in AGI, must pay a 75% alternative tax that is not subject to credits or reductions. The caveat is this: the 75% rate only applies if you are employed in the "entertainment" industry: directors, producers, singers, actors, etc. Professional athletes too!

You see, these people are directly subsidized by our hard-earned dollars, even more so than the CEO of a big multinational bank or umbrella corporation. So if Obama wants to redistribute wealth anywhere, let's take it from the charlatans in hollywood and give it back to the people (well, less uncle sam's cut anyway).

Alternatively, Obama could just buy every American a $100 AMC movie card and call it even.

Ben Wheat said...

Can't we have both?