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Politics : John McCain for President
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To: Little Joe who wrote (5466)10/30/2008 7:58:13 PM
From: RetiredNow  Read Replies (2) of 6579
 
OK. Then if you call Obama and McCain socialist, let's go all the way. EVERY President in my lifetime of close to 5 decades has been socialist. Because we've had a progressive tax structure my entire life and the further back you go, the more the rich were taxed. In fact, right now with the Bush tax cuts in force, the rich are taxed at the lowest rates than they ever have been in my life.

So what have the consequences been? Look around you. Out of control deficits. Doubling of our national debt. Economic chaos. Those are the objective facts.

A progressive tax structure is not socialist. It's sane policy to ensure we don't turn irrevocably into a plutocracy. Right now, taxes are too low to balance the budget. Either we increase taxes or we need to cut spending by 20%. Those are the only two possibilities to balance this budget. All of us need to stop living beyond our means.

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The term "plutocracy" is formally defined as government by the wealthy, and is also sometimes used to refer to a wealthy class that controls a government, often from behind the scenes. More generally, a plutocracy is any form of government in which the wealthy exercise the preponderance of political power, whether directly or indirectly.
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