Socialism. You keep using that word. I do not think it means what you think it means.
Of the many lies and exaggerations in the campaign, this is one that bothers me most. McCain has called Obama the “redistributor in chief”. Like it or not, redistribution of wealth is exactly what the government does. Tax and social policy is all about redistributing the wealth:
- From urban areas to rural areas (farm subsidies, universal service funds)
- From people without children to people with children (tax deductions/credits for having children)
- From renters to homeowners (home mortgage interest deduction, tax-free gains on sale of primary residence)
- From savers to investors (savers pay significantly higher rates on their earnings)
- From upper income people to lower income people (progressive taxation)
And the biggest redistribution of all… from future generations to the current generations by politicians who refuse to pay for their spending and have racked up so much debt that the national debt clock needs another digit.
Any policy that favors one group of people over another redistributes wealth. Including McCain’s own proposals.
National debt clock needs another digit. Creative Commons image from flickr user mjpeacecorps.
