Obama has really gotten a bad rap on this one. Any tax system, especially any progressive tax system, "spreads the wealth", if it must be put in those terms. What people don't seem to understand, and what the McCain campaign surely does undersand but cynically ignores, is that all Obama seeks to do is to repeal the Bush tax cut on the very wealthy, that is, to return those tax rates to what they were under Clinton, which, by the way, was a period when the economy was very good, and in which we experienced the first budet surplus in a very long time.
But do we hear anybody speak the truth on this issue? Of course not, we hear terms like "socialism, "spread the wealth", "redistribute the wealth", etc. When I was growing up in the '50's the tax rate on the very wealthy was 91%! This was obviously an obscenely high rate and was ultimately pared down to something more reasonable. This was indeed "spreading the wealth". But now it is less than 40%, so any hint of confiscatory taxation is obviously out of line. Shame on the McCain campaign for suggesting otherwise.
9 hours ago