rumitoid wrote:
First five points are all spin and not anything like what Marx had in mind; will read the rest after I get ready for work. One example of the spin. Although the rich do pay most of the taxes, the loopholes afforded them make it less than the percentage middle class families pay, often by as much as 20%. Wanting to end the loopholes is just leveling the playing field, not overtaxing the rich.
#1. State control of territory.
On repeated occasions, Team Obama often has thwarted the development of domestic energy supplies through arbitrary regulatory control over massive tracts of federally owned land and restricting drilling in American waters off our coasts.
It is the opinion of the writer that these regulations are arbitrary and there is just reason to limit offshore drilling.
#2. Progressive income taxes.
Obama has an Ahab-like obsession with further raising taxes on the rich even though the top 1% of earners already pays almost as much of the federal income tax as the bottom 95% of taxpayers combined.[
Answered this question in previous post.
#3. Abolition of inheritance.
Obama has succeeded in reinstating federal inheritance taxes and recently proposed raising them further by reducing the dollar threshold at which the tax kicks in and no longer allowing that amount to be indexed to inflation.
Taxing inheritance is not the abolition of inheritance.
#4. Confiscation of the property of emigrants and rebels.
The US has long been one of the few countries to tax its citizens on income earned abroad (a tax that applies to incomes above $95,100). In 2010, Obama won passage of the Foreign Account Tax Compliance Act, which orders foreign financial institutions to provide information to the IRS about Americans offshore holdings.
That the US is one of the few means nothing. Looking for accountability is not confication. Off shore Shell corporations and banks used to hide assets in order to avoid paying just taxes is not confiscation.
#5. Centralization of the countrys financial system in the hands of the state.
Certainly this trend was well established before Barack Obama became president. Thanks to decades of deficit spending, enabled by an accommodating central bank willing to help underwrite the federal governments chronic over-spending, Big Government and Big Finance have become joined at the hip. This was dramatically demonstrated in 2008 when George W. Bush gave his blessing to a federal bailout of Wall Street. By that time, the heavily indebted federal government had grown far beyond Main Street banks ability to finance its massive fiscal operations. Only the colossal financial infrastructure of the megabanks and other gigantic financial institutions was sufficient to maintain an orderly market for the federal Treasurys seas of red ink, and so federal intervention to rescue Wall Street was an inevitable act of self-preservation on the part of Uncle Sam.
This does not even deserve an answer. It so skews reality it is impossible to answer as well.