So the difference between capitalism and socialism is 4 percentage points?
Because that’s the difference between the proposed tax rates on the top two income brackets between McCain’s and Obama’s plans. So just for my own edification, let me get this straight: When the rich pay 35% of their income in taxes, it’s good old fashioned American capitalism, but when they pay 39%, it’s socialism. Have I got it right?
Hey, you know what? If they want to define socialism (incorrectly) as "spreading the wealth," so be it – but by that definition they’re also calling Warren Buffett, Ronald Reagan, John McCain, and Sarah Palin socialists as well.
Why?
- Warren Buffett has come out publicly in support of Obama
- Ronald Reagan expanded the Earned Income Tax Credit (the single most wealth-redistributive policy in the history of our tax code); also, the highest tax bracket under Reagan was 50% – the highest bracket in Obama’s proposed plan (as you mention) is 39.6%.
- John McCain has publicly supported the EXACT same tax policy that he is NOW calling "socialist." See for yourself:
http://www.youtube.com/watch?v=9kYsF1MerAY
- Sarah Palin imposed a windfall profits TAX on oil companies in Alaska, and cut a $1,200 check to every Alaskan with the proceeds. If that’s not "SPREADING THE WEALTH," I don’t know what is.
The McCain campaign is depending on the ignorance and intellectual laziness of the American people. Without it, he doesn’t stand a chance.
I’m voting for Chuck Baldwin, he is the Constitution Party candidate. I am tired of voting for the same party over and over hoping for change and never getting it. This year vote on principle, vote on a party that is actually going to work for you. Einstein said insanity is doing the same thing over and over expecting different results, how sane will you be on Nov, 4th?
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It also means that we were the most heavily socialist after WWII with tax rates for the rich much larger then what Obama is proposing. My, what a horrible time post-WWII was.
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Not just the rich getting a tax increase, the entire middle class too. Don’t you remember what Billy Clinton promised us and what he did to us concerning taxes? Middle class taxes went UP!
Obama wants to GIVE money to people that don’t pay any taxes. Get it!?
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Yes, and that is still a lot less than the rich had to pay under that socialist Republican President Eisenhower.
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You are so far from correct that it would take a book length economic lesson to explain it to you. socialism is when the government takes over the means of production and the sources of capital. Oops, that just happened, didn’t it?
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No, we are already extremely over taxed. Th sheep in this country have forgotten our past. We fought for our independence over a 3% tax.
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The two have never really been mutually exclusive in America. Citizens have always been able to keep the fruits of their labor, but are also expected to contributed to the common good…road construction, police protection, education etc.
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it has alot to do with what you do with the money,spending it on poor or giving it to poor or using it for health care all factors into it. what about the 4% decline in the GDP when you take that money out of it,what about the loss of jobs when that money is taken from companies? what it does is put more people dependent on the government and that is socialism
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they way the republicans see it….yeah !
oh an i really wish people would get real information on this… the poor do not pay taxes so how is giving a break to the middle class going to "just give money to the poor?" they say ignorance is bliss, seems that Fox news and Rush Limbaugh are counting on all the Blissful republicans out there to believe more of their lies!
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no you dont have it right… you see 40-45% of people dont pay taxes at all, and obama wants to increase taxes on everyone, not just the rich, and pass that money on as a welfare check to the people that dont even pay taxes. that’s socialism!!!! "spreading the wealth around" as obama puts it!!
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No Mike – you are still confused; and you will stay confused looking for REAL answers here – on Yahoo.
The good ones get deleted – this is a lunatic asylum for liberals – for the most part.
Go to the library for the truth – and ask a librarian whi isn’t wearing any election buttons or stickers.
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Hey, you know what? If they want to define socialism (incorrectly) as "spreading the wealth," so be it – but by that definition they’re also calling Warren Buffett, Ronald Reagan, John McCain, and Sarah Palin socialists as well.
Why?
- Warren Buffett has come out publicly in support of Obama
- Ronald Reagan expanded the Earned Income Tax Credit (the single most wealth-redistributive policy in the history of our tax code); also, the highest tax bracket under Reagan was 50% – the highest bracket in Obama’s proposed plan (as you mention) is 39.6%.
- John McCain has publicly supported the EXACT same tax policy that he is NOW calling "socialist." See for yourself:
http://www.youtube.com/watch?v=9kYsF1MerAY
- Sarah Palin imposed a windfall profits TAX on oil companies in Alaska, and cut a $1,200 check to every Alaskan with the proceeds. If that’s not "SPREADING THE WEALTH," I don’t know what is.
The McCain campaign is depending on the ignorance and intellectual laziness of the American people. Without it, he doesn’t stand a chance.
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Not quite right.
Ultimately, there is no difference, except in degrees of tyranny.
State Capitalism is when the government controls or confiscates the means of production, and interferes with the natural controls found in Free-Enterprise Capitalism. (These controls are freedom to compete, supply & demand, incentive and reward, and punishment for inefficiency and bad judgment. New wealth is created in this system, and it is distributed by merit.)
In State Capitalism, where a government uses its coercive political power to alter the natural controls of Free-Enterprise Capitalism, it leads to a dis-incentive for risk and work, and merely re-distributes existing wealth to those the government favors.
Combining the coercive power of government with ownership and control of the means of production always leads to absolute power over the individual, and therefore to absolute corruption, misery, and tyranny.
The U.S. is half-way into it. There is no fundamental difference between the light Socialism of the current US, European Socialism, National Socialism (NAZIs) or International Socialism (Communism), or a plundering war-lord. It is merely a matter of degree.
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The individual income taxes are not the big deal. only 20% of tax revenue comes from personal income, it’s business taxes that are going to skyrocket under Obama. For 1. 4% is a heck of a lot of money it is the actual annual raise rate in America. So most Americans can kiss their raise goodbye next year because it is going to Obama and Fedzilla. But this isn’t the point.
It’s taxation of a specific demographic to give to other demographics through federally funneled wellfare programs be they medicaid, wellfare, food banks, and prescription drug programs for the poor. It is the ideology. Besides McCain has proposed 25% tax rates but he can’t get anywhere near that without Fedzilla giving up some of it’s programs.
It has nothing to do with 39 and 35 it will actually be 35 and 50 if you were doing your homework you would know that business revenue will be taxed at a rate of 50 cents on the dollar. Maybe it doesn’t matter to you because you are an employee who takes no ownership in their company but when your employer gets hit that hard you will see and for what? Gold plated medicaid programs for able bodied people? If they weren’t able bodied they would be on disability insurance!
You dug up a couple dumb numbers on the internet and try to make it about 4%
I think the remedy for socialism is going to be four years with Barack Obama. Socialism styled programs have failed in every instance in America and around the world. Everyone points to Europe and their healthcare system. Last time I checked Europe had horrible poverty, horrible unemployment and socialism never delivers. Maybe four years under this fool will snap indoctrinated college students and professors out of their self-righteous little bubble when they feel the pain of socialism and we can get back to American principles again.
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