The way McCain phrases Obama's plan makes it sound really sinister and commie.
"In other words, Barack Obama's tax plan would convert the IRS into a giant welfare agency, redistributing massive amounts of wealth at the direction of politicians in Washington," McCain said in the radio address.The only problem is no 'conversion' of the IRS is necessary and McCain's plan will do the same thing --"redistributing massive amounts of wealth at the direction of politicians in Washington"-- with tax credits.
Besides what's with all the screechy talk about 'socialism', suddenly? Bush has been as prolifigate a spender of federal dollars as you'd ever want to see. He's a bloated embarassment of riches for the fiscally promiscuous. Only, Bush and McCain's policies ensure that the middle class and poor never see a dime of that money. Instead it goes to cronies in various industries and state run boondoogles many of which (FEMA, Homeland Security) rival the old Soviet Union for utter incompetence and corruption. His tax cuts alone were one of the most massive welfare projects in US history; just aimed at a very small and very wealthy demographic and not those treacherous and lazy 'welfare' queens that Ronald Reagan always railed against (poor black women 'in cadillacs' were apparently almost as dangerous as Russian MIGs).
And to be fair, I guess we ought to mention in more detail all those happy RICH recipients of the Bush tax cuts who have been living high and mighty thanks to Bush and McCain's largesse(excuse me, per McCain's new usage, 'welfare') that amounted to a 3.5 trillion dollar giveaway according to the Brookings Institute.
...making the tax cuts permanent would reduce federal revenues by almost $1.8 trillion over 10 years — and that's in addition to the $1.7 trillion of revenue losses already locked into law.That doesn't even include the latest $770 billion dollar 'bailout bill' for Goldman Sachs ex-CEO Paulson who Bush finagled into the head of the Treasury (henhouse meet rooster, your guard). Or the $85 Billion shelled out to those poverty stricken folks at AIG who had to turn around and blow a few hundred thousand dollars on their retreats and manicures because their poor nerves were so frazzled from not knowing whether Uncle Sam would come to their rescue or not.
Talk about Socialist Welfare Queens.
But enough with this class warfare talk. It's obvious that the middle class, and the poor have been deeply shafted for the last 20 years by the very wealthy in this country. Income distribution graphs
may help to elucidate the matter, but you don't need an L-Curve to let you know which way the wind blows. Obama's plan merely intends to make that L shape a bit less severe. You can call it socialism if you want, John. Or you can call it welfare. Neither are technically even in the ball park. But don't let a silly think like accuracy stop you now. You've already tossed the kitchen sink, what's a few more broken dishes.
But, for the record, I think I'll call it what it actually is: a much needed correction.
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