Current tax system is unfair - according to Barack.

I did not watch the debate last night. I am not really sure what was going to be covered except some of the more media driven stories such as Barack's slam on people who are religious and believe in the 2nd Amendment and of course Hillary's harrowing landing in Bosnia under non-existent sniper fire.

But in listening to the radio again, Barack did it again bringing up the need to have a fairer tax system, in this case talking about capital gains taxes. Quoting from Real Clear Politics the moderator Charles Gibson asked Obama after demonstrating that lowering capital gains in the past has raised Government revenues why he would raise capital taxes Obama replied:

"Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness. We saw an article today which showed that the top 50 hedge fund managers made $29 billion last year -- $29 billion for 50 individuals. And part of what has happened is that those who are able to work the stock market and amass huge fortunes on capital gains are paying a lower tax rate than their secretaries. That's not fair."

I have already blogged on this idea of a fair tax system. In one of my posts Hillary actually called for a "fair and progressive tax system" which struck me as a odd as the two ideas are at odds with each other. So now I see Barack calling for fairness as well. Nice to see the Dems have a common theme at least (along with inserting their respective foots in their mouths every so often). So like everyone else I was waiting for Barack to give us some details as to what a fair system would entail. Well, we didn't really get there, instead he took a swipe at George Bush (again from Real Clear Politics).

"I think the biggest problem that we've got on Wall Street right now is the fact that we've got a housing crisis that this president has not been attentive to and that it took John McCain three tries before he got it right."

What? Senator Obama - why not say what you mean? You are for hitting the richest with some "progressive tax" that basically taxes people who invest more (and probably make more) in the market than those who don't. That would in fact drive less investment in the market (why try and make more money if you are going to turn a larger portion over the Government) and probably do nothing to address the housing crisis that Barack feels President Bush should be doing more about. Maybe the Government should give houses away free? Maybe we can tie that into the "promoting the general welfare clause" in the US Constitution?

These guys are socialists pure and simple and the issue is that the Republicans have many of the same ideas but are banking on the fact that they are not as extreme (read not as anti-capitalist and anti-free market and anti-liberty as the Dems). What happened to real debate in this country and the concept of people not relying on Government to take care of them? The Dems continue offer a longer and more frightening road to servitude. The Repubs offer less (slightly) but the end destination is the same. If McCain starts talking about tax fairness which equates to punishing the rich, I am going to be more bothered than I currently am.

BTW - check out the posts at the Democratic Underground. Most of what I read is someone waiting to really soak the rich...that is a great idea. Soak the success in this country...soak the folks who supply jobs to people. Soak the people who invest in this country...great idea.

Better idea (to borrow from Tom Swift's Modest Proposal) is to tax the poor. The less you make the more taxes you should pay. Encourage people to pick themselves up by their bootstraps and get out and earn!!!

OS