Obama’s economic program: Wealth redistribution
Today's Financial News - Posted October 15, 2008
“I think when you spread the wealth around, it’s good for everybody.” — Barack Obama
by J. Christoph Amberger
Baltimore — (TFN): “It’s not that I want to punish your success,” Obama told Ohio plumber Joe Wurzelbacher. “I want to make sure that everybody who is behind you, that they’ve got a chance for success, too.”
Wurzelbacher is representative of thousands of Americans who have worked hard, taken risks, and managed to create a good living for themselves by their effort and tenacity — and at the expense of their comfort and family life: “I work 10 to 12 hours a day and I’m buying this company and I’m going to continue working that way. I’m getting taxed more and more while fulfilling the American Dream.”
Obama’s response — the promise that the wealth created by Wurzelbacher’s hard labor needs to be redistributed in a grand “trickle-up” economic Ponzi scheme — is one of the few times that the Democratic candidate tipped his hand: The Democrat’s goal is redistribution of wealth, not creation of wealth.
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