McCain flips again: now spreading the wealth is GOOD, see?
By ClarusVisum
@ClarusVisum (2163)
United States
October 29, 2008 9:41am CST
"In a stunning reversal, John McCain today endorsed the redistribution of wealth:
"We have a plan of action to get America's economy going again, Maria, and it has to do with a wide range of prescriptions. But one of them is to keep people in their homes. Look, it was the housing crisis that started this, OK? Fannie and Freddie, this -- was the catalyst that blew this whole thing up. And frankly, the administration is not doing what I think they should do, and that's go in and buy out these bad mortgages, give people mortgages they can afford, stabilize home values and start them back up again. They did that during the depression, it was called the Home Owners' Loan Corporation.""
Did you catch that? John McCain wants to take your money and "spread" it to various mortgage lenders. Apparently, he thinks that he knows better than you do how your money should be spent." -- http://www.washingtonmonthly.com/archives/individual/2008_10/015417.php
***
See, this is how it works. When it's Obama, it's socialism. When it's McCain, it's "reform". Don't you get it? IOKIYAR (It's Okay If You're A Republican)! All one has to do is not be a Republican for an idea that would normally be called "reform" to be called "socialist" instead!
Don't you just love double standards?
P.S. By the way, McCain is completely wrong about blaming Fannie and Freddie for the financial crisis--I've already refuted this with an informative McClatchy article in my blog: http://clarusvisum.blogspot.com/2008/10/economic-crisis-is-not-fannie-and.html
3 people like this
9 responses
@coolseeds (3919)
• United States
29 Oct 08
LMAO I don't see a snide comment to "China" clarius. ROTF
You can sniff Obama's tail all that you want and if he is elected, it doesn't make you right. His plan is flawed and he isn't going to do it. Just like the other candidates in the past. He is trying to buy the vote of the poor people of this country by giving them hope.
If Obama does implement his plan and 1% of the wealthiest citizens leave, then there will not be enough money left to pay for 40% of the taxes. Therefore the poor will have to pay more taxes. It is common sense guys.
2 people like this
@ClarusVisum (2163)
• United States
29 Oct 08
Exactly--hell, Obama would be seen as a right-wing candidate in many other countries!
3 people like this
@newtondak (3946)
• United States
29 Oct 08
I don't believe that constitutes a "reversal" - as he was instrumental in getting the mortgage lender bailout a few weeks ago. That evidently was what the majority of our legislators wanted as they passed it!
As Obama has yet to outline just how he intends to redistribute the wealth - other than the tax issue, which his own tax calculator proves is a bunch of bunk.
3 people like this
@ClarusVisum (2163)
• United States
29 Oct 08
Of course you don't believe it constitutes a reversal--you're a firm IOKIYAR person.
His tax policy is very clear, and a very thorough analysis is available on the Tax Policy Center's website. His tax calculator is not "a bunch of bunk"--it's just generalized, as anyone can easily tell by the ranges of income you can select. Again, anyone who's truly interested in seeing how they'd be affected can look at more in-depth analyses.
3 people like this
@newtondak (3946)
• United States
29 Oct 08
Basically what the calculator does is give you a $500 tax break automatically if you work - a couple gets $1000 because the calculator assumes that both people work - in every bracket up to $200,000.
Enter a working couple making $50-75,000 with three children paying for childcare - under Obama's plan, they get a $1000 tax break ($500 each for 2 working people) - under McCain's plan, they get a $967 tax break. Now enter a working couple with no children and no childcare expenses in the same income bracket. Obama still gives us the $1,000 tax break for 2 working people and according to the calculator, McCain's plan gives no tax break. Now, even though this would mean that I would get no tax break under McCain's plan (if the calculator is correct) it also would mean that under Obama's plan, I would get the same break as the couple with three children who are paying for childcare - which doesn't seem to be a fair deal for the family of five.
1 person likes this
@anniepa (27955)
• United States
29 Oct 08
IOKIYAR - I LOVE that! The Republicans have their "RINO" which applies to any of their own who have seen the light and endorsed Obama for the good of the country.
I heard McCain in two recent speeches say that he's going to make everyone successful and that he's going to make everyone wealthy. Of course, there was nothing remotely resembling an explanation of HOW this will happen. The wealthy business owners with all their money and their average $700,000 tax cut aren't going to create any jobs if there aren't any people in the lower income groups to purchase their products and services. The small businesses we hear so much about like Joe the Plumber if he really was a plumber who really was going to buy his own business won't do so well because people can't afford their services until they have a dire emergency. All of the small, privately owned businesses I see in my area are struggling big time and a tiny tax cut isn't going to do them much good at all. Family owned sub shops and pizzerias are laying off their employees and doing all the little amount of work they have themselves because people can't even afford such "luxuries" as pizza and subs! My grandkids' midget football league for years has sold candles as their major fundraiser, mainly because a friend of someone involved in the league is a distributor; in past years these candles, now going at $17 a piece for the smallest ones, sold like hotcakes but sales have been dwindling little by little the last couple seasons. This season it was dismal, many kids (and their parents) were unable to sell a single candle. Usually people are great about buying things to support the kids' organizations but it's reached the point where choices have to be made and if someone can barely afford their mortgage and gas in their cars one of the first things to go will be fancy scented candles.
If by some major fluke at this point McCain/Palin get elected, those of us who aren't in the top income group are going to be headed for some even tougher times with no "HOPE" at all. HOPE is good!
Annie
2 people like this
@sharra1 (6340)
• Australia
30 Oct 08
Not possible, you cannot have everyone wealthy as the rich need a poor workforce. Capitalism can only flourish if there is a hoard of very poor people so desperate for work that they will take any wages and any conditions to avoid starving. That is why they are so opposed to social justice as it means that people are able to start insisting on rights.
@ZephyrSun (7381)
• United States
29 Oct 08
"IOKIYAR" I love it!
I'm actually not surprised, I have seen comments that McCain made in the 2000 election cycle about how the more wealthy should pay more taxes. This cycle he is just playing to that Republican base and I personally believe that while he and Palin are playing to the base they are aleinating themselves from Independents.
3 people like this
@xandercordy1 (296)
• United States
29 Oct 08
You hit the nail on the head. When Democrats want to do something it's either something everyone dismisses as "stupid" or "socialist". I am so very sick and tired of hearing that word used in this campaign. Republicans only know two words when they talk about Obama and that is "terrorist" or "socialist".
John McCain has been flip flopping for the past few weeks, struggling to gain on Obama. He's a desperate man who will say whatever it takes to please the multitudes. "Obama hangs out with a terrorist...do we want someone like that in the Oval Office." A week later, "Obama is an honest man who I just happen to have issues with. You have nothing to be afraid of if he becomes President." A few days later, he and Palin are back to inciting crowds with words of terrorism and socialist. And now he's agreeing with what Obama has been saying all along.
McCain has too many faces and I don't like any of them.
@tdavis (117)
• United States
29 Oct 08
You can make any candidate say what ever you want based on your point of view and taking items out of context. Now to the case in point. The Federal Goverment and Fannie mae and Freddie mac were a comingled corporation. The Goverment already had its hand in the barrel. McCain has said that he needed to help the people keep their homes, that is not new. Secondly, in 2005 McCaine warned the senate of what would happen if Fannie and Freddie did not have proper oversight. He was right, what he said would happen did. Demo's have had majorities in Congress and the Senate and a Democratic President pretending to be a Repblican. Also during the oil companies witch hunt in congress, Rep. Mosley-Baum(D) said that they wanted to socialize(opps) take over the oil companies. Additionally, you had Demo's on committies with oversite of Fannie and Freddie that caused them to begin accepting loans from people that did not meet the criteria and reported them as racist, as minorities making less money could not afford housing. These same Demo's received sweetheart loans from companies dealing with their committies.
Also noted that Obama's policies would in effect change the United States into the European/France style of Goverment. Personally, I really don't like either candidate. I am voting the candidate that would do less harm to this country.
2 people like this
@ClarusVisum (2163)
• United States
29 Oct 08
Fannie and Freddie are not responsible for the economic crisis--this is a debunked talking point. See for yourself--I put it pretty succinctly, and link to the full article so you can read all the details if you want:
http://clarusvisum.blogspot.com/2008/10/economic-crisis-is-not-fannie-and.html
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@ClarusVisum (2163)
• United States
29 Oct 08
"So, Freddie and Fannie did not cause it?"
No, they didn't. Private lenders did.
Did you completely ignore that McClatchy article and my post on it or what?
2 people like this
@tdavis (117)
• United States
29 Oct 08
So, Freddie and Fannie did not cause it? The housing market began falling over a year ago. As prices fail and the illegal loans that Freddie and Fannie had taken on began to fail it was a domino effect. As far as News paper articles, they could replace toilet paper. Blogs are not news sources and not really reliable as the authors usually have hidden motives.
You want big, big ,big goverment to give you what you need and to make all your decisions for you. As Obama said the civil rights movements scope before the US's highest court was too narrow, they should have gotten the court to rule on what the Goverment could do for the people instead of what the Goverment could not do. Oh, that is regarding the US Constitution, as it limits the use of power against the people, thereby limiting goverment. Obama would like to see that changed to list, housing, healthcare, jobs, salaries, and everything else would become an obligation that the goverment would be required to provide.
3 people like this
@megaplaza (1441)
• Nigeria
30 Oct 08
i wonder why americans deviates from what will solve their problems but worries over concepts, if socialism is what will solve your economic crisis why not accept it atleats for a short time. i am beginning to hate america, they have failed me with their racist behaviours. i believed in american dreams, even though i am not an american, now i have changed my mind, i believe in nigeria dream. lol
@thedogshrink (1266)
• United States
31 Oct 08
The problem is that socialism will NOT help our economic crisis. That's been proven to fail in the past, and some people just won't believe it.
This is not about race, megaplaza! Some people are trying to smear the name of those who don't agree with them, by calling them racist, because Senator Obama is black. But that is NOT the real case. I am not voting for Obama because his plans have been proven in past to not work and to worsen the economy.
Also you have to understand the history of Americans, which I'm beginning to thing many Americans have forgotten. We are like Nigerians! Proud and self reliant people! Our country was built on the belief that we can all be free and equal, and have a chance to become whatever we want. Traditionally, we do not believe that socialism allows us that same freedom.
Of course, we have bad details in our history. But we also have quite a lot to commend us -- we went from slavery and civil war to an equal, integrated society in about 100 yrs, by 1970. It's not perfect, but it is better and better, and it was actually a short time, historically, for all the changes that have taken place, since slavery.
In 1865, we started our civil war, and it was partly about ending slavery. Now in 2008 we have a black man possibly about to be elected President. More than that, he is actually biracial, half white, half black -- which in our history would have been the WORST possible as far as prejudice. In human terms it has been a long, long, horror filled journey. But in historical terms, it was really accomplished in a fairly short time and we are still moving forward.
My husband is Nigerian. I've never been there, but I hear it is beautiful and a really special place. However, my husband says it is very hard there for most people, and there is no dream for the average person. I hope it is changing for the better for you.
@sharra1 (6340)
• Australia
30 Oct 08
Oh no he is not reversing his argument. He does not see that as spreading the wealth that is just helping his mates out. Spreading the wealth is when a government gives money from the rich to the poor. I call it social justice, many people on this site call it socialism which it is not, that is what McCain is against.
He does not want to hurt the rich and help the poor oh not that is evil that is a crime but its ok to take from the poor and give it to business men who have already wasted tons of money through greed.
@thedogshrink (1266)
• United States
30 Oct 08
Your assumption here is so completely off base! This is a bi partisan reaction to a state of emergency, and it is temporary!
Obama's plan is very different, and as others have pointed out -- we are completely in the dark as to how he will redistribute the wealth!
Also, McCain is NOT trying to give the money to the mortgage companies -- he's trying to help people who -- not through their own fault -- are losing their homes. It's not like he could just declare the mortgages paid and the homeowners free and clear! So the mortgages have to be paid off. It still HELPS the people instead of only helping the banks.
@thedogshrink (1266)
• United States
31 Oct 08
That is NOT how he will DISTRIBUTE the wealth, or rather RE-DISTRIBUTE!!!
Do the 40% who don't pay any taxes get checks, and if so, how much? Or does the 55% that pays some taxes get the whole tax cut? OR is the majority of the cut going back into government programs to"spread the wealth"?
There is A LOT that he has left to imagination. If you can't see that, you just refuse to LOOK!
@ClarusVisum (2163)
• United States
30 Oct 08
"we are completely in the dark as to how he will redistribute the wealth!"
Uh...
The wealthiest few percent give up Bush's tax cut, bringing them back down to their 'Clinton tax levels'. This pays for a tax cut for 95% of Americans. That's pretty much it.
What exactly are you "completely in the dark" about?
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