Obama's economic program: Wealth redistribution

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.