Barack Obama defends his tax plan on the campaign trail.
From ABC News’ Jake Tapper.
On the stump this week, Sen. Barack Obama, D-Ill., has pushed back against Sen. John McCain’s description of his tax policies.
“The reason that we want to do this, change our tax code, is not
because I have anything against the rich,” Obama said in Sarasota,
Florida, yesterday. “I love rich people! I want all of you to be rich.
Go for it. That’s the America dream, that’s the American way, that’s
“The point is, though, that—and it’s not just charity, it’s not
just that I want to help the middle class and working people who are
trying to get in the middle class—it’s that when we actually make
sure that everybody’s got a shot – when young people can all go to
college, when everybody’s got decent health care, when everybody’s got
a little more money at the end of the month – then guess what?
Everybody starts spending that money, they decide maybe I can afford a
new car, maybe I can afford a computer for my child. They can buy the
products and services that businesses are selling and everybody is
better off. All boats rise. That’s what happened in the 1990s, that’s
what we need to restore. And that’s what I’m gonna do as president of
the United States of America.
“John McCain and Sarah Palin they call this socialistic,” Obama
continued. “You know I don’t know when, when they decided they wanted
to make a virtue out of selfishness.”
It would seem to be, given the themes of Rand’s work, what happens when independent achievers are demonized.
Which would fit with this description of those who want to keep their hard-earned tax dollars as “selfish.”
Atlas may not be shrugging, but Obama is.
According to the Tax Foundation Obama’s plan would increase the number of people who don’t pay taxes by 16 million to 62 million. McCain’s plan isn’t much better in that regard adding 15 million to the list. It looks like both men plan to help those on the lower end through increased tax credits that will remove people from the tax rolls and leave the middle and upper income shouldering even more of the burden.