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Spreading the Wealth Around

by Linda Chavez

"When you spread the wealth around, it's good for everybody," Barack Obama explained to Joe Wurzelbacher in Ohio earlier this week. But Joe the Plumber, as he has become known thanks to Wednesday night's presidential debate where his name was invoked no fewer than a half dozen times by both candidates, isn't buying it. And Wurzelbacher is right to be skeptical.

In an interview with CBS' Katie Couric after the debate, Wurzelbacher said he was worried that Obama would be the on ...

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Posted by: Carl
Comment: #1
Fri Oct 17, 2008 4:06 PM

Way to go Given! Sadly, most of Linda's readers just read and nod their agreement.... Its just a shame that Linda didn't think about it...but then again who wins points for being logically correct and complete when nowadays you get rewarded for having the cutest one liner! Its kind of like all the investment professionals on television telling people to "think long term" and to "not sell but rather keep dollar costing your way into the market..." So, that is what the middle class keeps doing with their retirement funds while the top 1% are speculating by buying and selling at rapid clips; the top 1% have day trading and hedge funds...and they want us to believe that their investments create jobs!

Posted by: Carl
Comment: #2
Fri Oct 17, 2008 5:00 AM

What occurred between 1999 and 2006 that would account for an increase in tax revenues derived from the wealthiest in light of the fact that the tax rate for dividends and capital gains was lowered?

Posted by: Given Harrison
Comment: #3
Fri Oct 17, 2008 8:04 AM

In Linda Chavez's column "Obama's plan to spread the wealth" she mentions that the top 5% earning over $153,542 currently pay 60% of the taxes with Bush's tax cuts intact, while under Clinton, who "raised the top tax rate in what was the largest tax increase in history", the wealthiest 5% paid only 48% of the tax burden.  Hmm.  Then according to Chavez, the higher their tax rate, the smaller their portion of taxes, so why aren't the super rich begging for higher tax rates? Perhaps it's because, under her preferred tax policies, we've had a massive redistribution of wealth moving from the poor and middle class into the coffers of the top 1% for the last eight years. This has made it possible for that group, in spite of the Bush tax cuts,  to skew the figure for the top 5% up to the 60% tax "burden" figure. In a nutshell, fewer people now have lots more money.  Also note that the group of earners between $153,542 and Obama's $250,000 (most of Chavez's top 5%) would be receiving tax breaks under Obama. Chavez's conservative tax policies have for eight years defied the laws of gravity -- they have trickled up!

Posted by: James A, Sweeney
Comment: #4
Sun Oct 19, 2008 3:03 PM

Ma'am; ... Wealth in a bank or holding property makes a few individuals rich, but money moving through an economy  makes a lot of people wealthy. A little thing I learned from my friend Marx is that High profits means depression... Of course, that was before paper money and then, when the rich had sucked all the money out of an economy it was done. Now government can debase all the currency just by printing up more of it. Should they ggie all they pnt  the rich??? If the problem is too  little money in the economy it does not mean there is too little in private hands. The fact is that low wages,  too few productive jobs,  and too many imports that give profit here but employment abroad lead to rich people, and too many poor people. The answer is not to give all your national credit to the rich, because the problem is too little money for the poor. The answer is not even more government money for the poor. The answer is justice. ...Since the rich control our government they should pay, and then they would make certain the national treasure were not pissed away in Arabia or  else where. Wealth should be taxed so it is invested well. Since property is not taxed it is a bank of wealth, but it is also the source of unequal rights... The government should act to lower the price of property with high taxes to drive it onto the block where it will serve a better purpose, -in many hands rather than few. ...If people hang onto property then they will have to pay labor to make it profitable. That is the situation we had during the great age of capital, with property cheap and labor dear. Yes, taxes ought to redistribute wealth. Taxes ought to tax inheritance, and it ought to put pressure on wealth to prove itself worthy. Mostly it should allow invention, and industry, and ingenuity to keep more wealth, and make it harder for finance to exploit people. High interests and high profits have drained the  wealth for this country. Infrastrucure built at great expense has been left to rot for the taxes to maintain it. But the common man, with little of productive work and poor wages has been forced to sell all the capital of generations at a loss to stay even. He must pay the interest of his employer with short wages, and suppliment short wages with credit. So; the problem is the same as in past ages. High profits have bled this land of its productive capacity and the money to keep the economy working. In fact, it has weakened us in a dangerous age... Those with the money should be forced to support and defend their wealth. The infrastructure works for all. The military works for all. The police and courts work for all. The government should work for all, and those with the least must pay the biggest share of their income. And taxing that income forces wages down. It is wealth which should be taxed. What the poor defend with their lives and give their lives the build up ought to be made to dance, and go to pay for the defense of wealth... The wealthy cannot do it  alone. They need to see that property is never free and clear. Wealth is only as useful in private hands as it serves a public purpose...We defend their rights, but they should pay their share...Thanks...Sweeney

Posted by: Linda j.
Comment: #5
Thu Oct 23, 2008 4:25 PM

Americans already know, I guess Joe the plumber lived on the moon all his life, the more you make the more taxes you pay (for the most part). He lied about buying a business because he has a tax lien and won't pay up from 2007-Deadbeat- So I intend to make all the money I want and pay my fair share like everyone else. McCain though is for the rich only like President Bush- they don't care about middle America. Look at the mess now. John McCain can't fix anything -he has never had a business or a regular job in his life. He will only help the rich. Look at Palin spending $150000.00 in new clothes. May she should sell them and give the proceeds to Joe so he may pay his taxes and then think about buying a business. Republicans want nothing to do with the middle class ,only to steal their vote.

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