Seeing through Obamanomics
By Jeff Jacoby
Globe Columnist / September 14, 2008
ALL THROUGH the spring and summer, opinion polls tracked a growing confidence that Barack Obama could handle the economy better than John McCain. Just before the Democratic convention in August, Gallup had Obama leading McCain on the economy, 54-38 - a 16-point margin. But now Obama's lead has nearly vanished. Gallup's latest numbers show the candidates nearly tied. Just 48 percent say Obama would be more adept at superintending the economy; 45 percent choose McCain.
"That's class warfare," O'Reilly objected. "You're taking the wealthy in America, the big earners . . . you're taking money away from them and you're giving it to people who don't. That's called income redistribution. It's a socialist tenet. Come on, you know that." "Bill, Bill, Bill, Bill," Obama replied. "Teddy Roosevelt supported a progressive income tax." He acknowledged that he doesn't enjoy paying taxes either - "you think I like writing the check?" - but that "there are certain things we've got to do." His tax proposal, he explained, was a matter of civility:
"If I am sitting pretty and you've got a waitress who is making minimum wage plus tips, and I can afford it and she can't, what's the big deal for me to say, I'm going to pay a little bit more? That's neighborliness." If that is Obama's rationale for making the tax code even more steeply progressive than it already is, it's no wonder voters are having second thoughts about his economic aptitude.
"Neighborliness." Perhaps that word has a nonstandard meaning to someone whose home adjoins the property of convicted swindler Tony Rezko, but extracting money by force from someone who earned it in order to give it to someone who didn't is not usually spoken of as neighborly. If Citizen Obama, "sitting pretty," reaches into his own pocket and helps out the waitress with a large tip, he has shown a neighborly spirit. But there is nothing neighborly about using the tax code to compel someone else to pay the waitress that tip.