From Mr Buchanan:
If Barack Obama is not a socialist, he does the best imitation of one I’ve ever seen.
Under his tax plan, the top 5 percent of wage-earners have their income tax rates raised from 35 percent to 40 percent, while the bottom 40 percent of all wage-earners, who pay no income tax, are sent federal checks.
If this is not the socialist redistribution of wealth, what is it?
A steeply graduated income tax has always been the preferred weapon of the left for bringing about socialist equality. Indeed, in the “Communist Manifesto” of 1848, Karl Marx was himself among the first to call for “a heavy progressive or graduated income tax.” . . .
Indeed, how do Republicans who call Obama a socialist explain their support for Social Security, Medicare, Medicaid, food stamps, welfare, and the Earned Income Tax Credit? What are these if not government-mandated transfers of wealth to the middle and working class, and the indigent and working poor?
Since August, the Bush-Paulson team has seized our biggest S&L, Washington Mutual, and largest insurance company, AIG. It has nationalized Fannie and Freddie, pumped scores of billions into our banks, bailed out GM, Ford, and Chrysler, and paid the $29 billion dowry for Bear Stearns to enter its shotgun marriage with JPMorgan Chase.