Obama policies patent Marxism

Robin Hood’s gambit: Rob the rich, pay the poor. Senator Obama told an Ohio man on Oct. 13, the self-employed plumber will pay higher taxes because he plans to “spread the wealth around.” Except the senator doesn’t call it income redistribution.

Euphemisms like “change” or “fairness” play better. So it’s only fair the rich guy pay for the poor. It’ll be “good for everybody.” Really?

First, I am not calling Sen. Obama a Marxist. A CPA with long experience, I disclaim any intention here of an ad hominem attack. His policies, however, are patent Marxism, and a fair target. Unfortunately, some readers will misunderstand. To those who don’t, please listen up.

Marxism defined: “From each according to their means, to each according to their need. “ Karl Marx. The Federal Tax Code structures progressive tax rates; as bracket income increases, the rate of tax increases. The lowest individual rate is 15 percent; the highest is 35 percent. In 2006, the latest federal data available, tax filers with above $50,000 in taxable income paid 90.3 percent of all personal income taxes; 56.9 percent of taxpayers (those earning less than $50,000) paid 9.7 percent of all personal income taxes; and 3.8 percent (those earning over $200,000), paid 50.6% of all personal income taxes. One-third of tax filers paid no tax. Without question, our already socialist tax structure causes high earners to pay a disproportionate share of taxes. Senator Obama asserts this is not fair because it is not enough.

His published tax plan promises to lower income taxes on 95 percent of taxpayers through refundable targeted credits. So though one-third pay not tax, they’ll get a refund. He will raise capital gains taxes by one-third, taxes on ordinary income above $250,000 by one-twelfth and corporate taxes by half. CCH analysis estimates the cost of his tax policies at $160 billion per year, net.

Perilously, this plan assumes falsely that GDP will not drop below its current level. U.S. history has demonstrated that raising tax rates on business and capital inhibits GDP and job growth. Small tax increases aside, Sen. Obama’s extreme hikes will contract GDP, because the confiscatory tax rates on business will force millions of layoffs and thousands of small businesses into bankruptcy, massively increasing unemployment and welfare. Where is the real concern for the poor in such a plan? Despite new tax revenues, the deficit will be severely exacerbated. Do not be deceived. Either Sen. Obama misunderstands taxation, or he’s counting on your misunderstanding.

Sen. Obama’s change to definitive socialism will exact an unacceptable human cost by crushing middle and lower income Americans who will be reduced to dependency on the state. Of course, the classless state is the Marxist means to pipe dream utopia. America has demonstrated just the opposite—working people rising through expanding economic opportunities. The American Dream’s realized floats all boats. Marxism drains the pond and calls it fairness.

Therefore, the fundamental question in considering Sen. Obama for president is, “Are you ready for America to take the Marxist path?” Maybe. But when you vote I hope you will make an informed choice."