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Worst Socialist Ever!

SOCIALISM FOREVER

The Atlantic’s Derek Thompson reviews Obama‘s record and finds his socialist credentials wanting:

President Obama: History’s Worst Socialist?

Thompson lays out the weak case for socialism likely to be raised by the likes of Newt Gingrich (and any right-wing knuckle-dragger with access to cable news, the internet or a radio):

To be very fair to Gingrich, the president’s agenda is not entirely devoid of socialism. No, really! After all, he defends Social Security, which is a forced savings program. He nationalized the troubled automakers in his first months as president — totally socialist. He signed a law expanding the health care regulations and requiring Americans to buy medical insurance, which I suppose you could classify as socialism-lite; although public decency and child abuse laws already require families to buy clothes and food, and nobody complains much about those.

The evidence against:

But when it comes to tax policy and redistribution, a not-insignificant part of modern democratic socialism, it’s fair to say that President Obama is in the running for worst socialist in history. Rather than raise taxes, he has inherited the lowest tax rates in a generation … and lowered them repeatedly while presiding over a period of exacerbating income inequality and a stupendous wealth comeback on Wall Street.

Facts:

  • Federal tax receipts, as a share of the economy, are at their lowest since the early 1950s
  • Marginal income tax rates are at their lowest since the 1930s, save for a brief period in the last 1980s

Thompson’s post is illustrated with great graphs from Business Insider.

The Business Insider link has a number of great graphs that to any sensible person would show incontrovertible evidence that tax policies have increasingly favored the very wealthy while leading to calamity for the rest of us.

I have repeatedly made the case that Obama is as far from being socialist as Christopher Hitchens was from being the Pope.

But facts have never been important to the idea-bankrupt Republican horde.

-Chris

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December 19, 2011 - Posted by | Uncategorized | , , , , , , ,

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