Posted by Curt on 19 April, 2008 at 9:42 am. 5 comments already!


Investor Business Daily tackled Obama’s ignorance on economics yesterday that I wrote about a few days ago. Here is the exchange in question from the debate:

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Indeed, data from Congress’ Joint Committee on Taxation show 20% of those with capital gains in 2005 had annual incomes less than $50,000. So Obama’s “tax-the-rich” plan to jack up cap gains rates would in fact become a huge middle-class tax hike.

Add to this his idea to lift the Social Security tax cap on incomes above $97,000, which would hit many of the same people, and you get the idea that Obama doesn’t understand economics at all.

Maybe it’s that he and his wife, Michelle, just reported $4.2 million in income for the last year — with little or none of it in the form of capital gains.

Whatever the case, he obviously doesn’t get it. He’d rather lash out at people he thinks are rich, even if it means bringing in less revenue to the federal government, a point that Gibson clearly made.

What it comes down to, and the word “fairness” is the tell, is that he wants what all Socialist want….redistribution of wealth. How dare you become successful when so many people are suffering. But I will help out your guilt little one by taking as much as I can from your success and giving it to those I feel deserve it more.

Some call him a lightweight on economic issues….I disagree. He knows what he is doing. He is following Karl Marx playbook to the “T”

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