The Osterley Times: Obama's Socialism vs McCain's Wise Investments.

Tuesday, October 21, 2008

Obama's Socialism vs McCain's Wise Investments.

Not socialism:

Welcome to the People’s Republic of Alaska, where every resident this year will get a $3,200 payout, thanks in no small measure to the efforts of Sarah Palin, the state’s Republican governor. That’s $22,400 for a family of seven, like Palin’s. Since 1982, the Alaska Permanent Fund, which invests oil revenues from state lands, has paid out a dividend on invested oil loot to everyone who has been in the state for a year. But Palin upped the ante by joining with Democrats and some recalcitrant Republican state legislators to share in oil company windfall profits, further fattening state tax revenue and permitting an additional payout in tax funds to residents.

Socialism:

Among the more prominent elements of his tax proposal, Senator Obama would end the Bush tax cuts and allow the top two tax rates to return to 36 and 39.6 percent.

It's simply hysterical to hear the Republicans, whose candidate recently proposed a $300 billion plan for the government to buy distressed mortgages from banks, talk of the other side preaching socialism.

Even a McCain supporter like Michelle Malkin couldn't disguise her Republican fury at what McCain's plans actually amount to:

He [McCain] spent the entire debate assailing massive government spending — while his featured proposal of the night was to heap on more massive government spending to pursue home ownership/retention at all costs. If Obama had proposed this, the Right would be screaming bloody murder about this socialist grab to have the Treasury Department renegotiate individual home loans and become chief principal write-down agents for the nation.

And yet he has now unleashed his VP candidate to decry Obama as a socialist?

This is the most incoherent campaign that I ever witnessed. McCain is clinging to the term "socialism" based on an Obama comment to Joe the Plumber - who isn't called Joe and isn't a plumber - that he wanted to "spread the wealth" around.

Apparently this outrages McCain even as he proposes spreading $300 billion around at the very same time.

Of course, this charge is centred on the fact that Obama plans on returning the tax rate for the US's richest citizens to the level they were at under that other well known socialist, Ronald Reagan.

It's socialism if Obama spreads wealth around and good policy if McCain does so. There's only one word for McCain's incoherent campaign, it's just silly.