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Redistribution goes both ways

 

With Sarah Palin and others in the McCain trying to push the "socialist" tag on Obama, former AG candidate Bill Harsch, in a letter published in the ProJo, tells it like it is:

As John McCain and Barack Obama posture, I can accept a lot of it as just politics as usual. I trust most voters accept the more outrageous or irrelevant claims and counterclaims for what they are, campaign rhetoric. However, from my perspective, McCain crossed the line in his comments that “redistribution of income” was some kind of new, outrageous and “socialist” position on the part of Obama.

Apparently, redistributing income upward in the economic scale, as has been done on a massive scale during the Bush years, including the present bailouts, is not “socialistic,” or as Fox News recently put it, “Marxist.” What is it then? Pure capitalism? I don’t see how anyone can think so. It’s as if we have had eight years of reverse Robin Hood — take from the less fortunate and give to the rich. If income redistribution is “socialism,” then the bailouts are just socialism for the rich. And the benefits being received from the ordinary taxpayer (including Joe the Plumber) for all this “redistribution of income” upward, now include taxpayer dollars being shamelessly set aside for corporate bonuses by the big financial institutions, the very ones receiving massive public largesse.

Trickle-down economics, and cowboy capitalism has been, as Alan Greenspan belatedly admits, an abject failure. It has badly damaged the U.S. economy, and indeed the world economy. Hopefully, this latest experience with corporate and financial “self-regulation” will finally serve to put an end to this foolish fantasy.

We’ve had massive redistribution of wealth up. That was okay according to the McCain theory. But talk about taking some of that public largesse back — that’s “socialism”. This absurd claim, which is clearly beyond any kind of twisted logic, nicely fits the Halloween season.

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