Thursday, October 16, 2008

Let's Spread the Wealth Around

This is the term that Senator Barack Obama was criticized by Senator John McCain for saying last night during the presidential debate. Read it again - Let's Spread the Wealth Around.
Senator John McCain is trying to spin this quote in a negative light, but let me examine this five-word phrase and break down exactly why McCain is wrong in his criticism.
For starters, and the most obvious, by McCain saying "this is the wrong way" sure sounds like McCain has an interest in NOT spreading the wealth of the American people around. Seems to me that Senator McCain thinks the wealth is right where it needs to be - with the wealthy. Obviously, if you look at McCain's position on taxes, well, he's looking to suspend capital gains tax (tax on gains in stocks by investors) and even to provide full write-offs for stocks that lose in today's economy. Sure sounds like he is looking to keep the rich, rich, while kicking the poor and middle class before they ever have a chance to catch up.
What Senator Obama is saying with his statement of "let's spread the wealth around" is exactly that - let us tax the wealthy (those making over $250,000 per year) more - and for anyone making less than that, tax them less - effectively creating a more balanced economy - the wealthy can afford more tax, the middle class and poor cannot. As Obama said last night, he will cut the taxes for 95% of the American workers - only those earning more than $250,000 will see their taxes increased - or 5% of workers - something tells me that 5% can afford it a slight increase in taxes.
So, to me, it makes only too much sense, and the fact that Senator McCain can go on national television and say something this absurd and to not be absolutely blasted and ridiculed for it, is ridiculous! He only wants to keep the wealth where it currently is - with the wealthy few - and he doesn't care at all about the "little guy" - the middle class.
I think Chris Rock said it best on Larry King Live - who are you going to trust to keep you in your home, the guy that doesn't even know how many homes he has, or the guy with one home? That answer should be clear.
I may not believe in everything Senator Barack Obama stands for, but I have to do what is best for me, and for me, I need to have more money in my pockets as the cost of living continues to rise exponentially - but I still cannot believe that Senator McCain can criticize Senator Obama for wanting to spread the wealth among the citizens of the United States and for no one to simply recognize his criticism for what it is - ludicrous.

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