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Economics Election 2008 McCain Obama Politics

Socialism, huh?

Hendrik Hertzberg brilliantly rebuts the charge of “socialism” that McCain and Palin have been flinging:

The Republican argument of the moment seems to be that the difference between capitalism and socialism corresponds to the difference between a top marginal income-tax rate of 35 per cent and a top marginal income-tax rate of 39.6 per cent. The latter is what it would be under Obama’s proposal, what it was under President Clinton, and, for that matter, what it will be after 2010 if President Bush’s tax cuts expire on schedule.

And then there’s this gem from that straight-talking maverick of 2001:

YOUNG WOMAN: Are we getting closer and closer to, like, socialism and stuff?. . .
MCCAIN: Here’s what I really believe: That when you reach a certain level of comfort, there’s nothing wrong with paying somewhat more.

Read the whole thing – and spread the word.

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