A blog written by Manchester College students studying the 2008 presidential campaign.

Monday, October 13, 2008

Obama's Comments on the Economy

Personally, after reading an article, which included Obama's responses about the economy to a citizen, I am very nervous about him dealing with the economic crisis. He seemed to be confirming accusations from McCain's campaign and Republicans that he is a socialist. When the plumber asked the candidate, "Your new tax plan is going to tax me more, isn't it?" because he was upset that he has been increasingly taxed for trying to attain the "American dream." Obama's response was, "It's not that I want to punish your success. I just want to make sure that everybody who is behind you, that they've got a chance for success too. My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody ... I think when you spread the wealth around, it's good for everybody." If that is not blatant support for socialist ideas and policies, I really do not what is. It worries me to think our free market and capitalist economy may be at risk. Socialist economies do not work. They never last long because they stunt economic growth by removing monetary incentives for entrepreneurs and inventors. Also, I just do not think "spreading the wealth around" is fair to those who have been successful. The phrase, in my opinion, implies an attempt to create equality or converge income classes. Higher taxes on the wealthy are acceptable in my opinion, but to take money from them with these intentions is unjust and anti-American.

http://elections.foxnews.com/2008/10/13/obama-plumber-plan-spread-wealth/

2 comments:

Anonymous said...

During this final critical period of campaign, the both sides are getting more and more tough with each other in their attack as to who should be the paresident. Actually, both of their positions on issues can attract certain group of electorate. Well, who will be the winner at last? I'm not sure. i just hope that the new president will guide America out of the economic crisis and lead the whole world to a bright future.

cjfrankum said...
This comment has been removed by the author.