Obama’s Communist Mentor

July 20, 2008
Tax Rates Could Top 50% under Obama

As Obama's background makes clear, "change" in the context of his alarming campaign means socialism. So it should come as no surprise that if we bring upon ourselves the tragedy of an Obama presidency, some will have more than half of their income expropriated by the government:
The Democratic presidential candidate is proposing not only raising the federal income tax, but also adding a Social Security tax for those Americans earning more than $250,000 a year. For New Yorkers, that could mean that if the current Social Security rate is applied, the marginal tax rate, or rate on every extra dollar earned, could rise to 58%.

Michael Graetz, who teaches tax law at Yale Law School, states the obvious:
If the economy remains soft through next year — and it seems unlikely that it will be robust — it would be a very bad time to raise taxes of any sort, but particularly to raise them in this way.

But then, if the point of Democrat policy is to strengthen the party by making more people dependent on government handouts, this could be the ideal time to jack taxes through the ceiling, potentially throwing hundreds of thousands out of work and onto the welfare rolls.

In Russia, in took a bloody civil war to impose communism. In the Land of Liberty, it seems it may only require decades of media control by the hard left, incrementally edging us into Bolshevism by propping up candidates like Obama.