1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2 a: a system of society or group living in which there is no private property b: a system or condition of society in which the means of production are owned and controlled by the state
3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done
Webster Definition of
Socialism
The Democrats ultimate agenda is socialism - it is plain and simple.
Joe Biden called on Americans to do their patriotic duty and pay more taxes. He said that their plan was to increase taxes on people making more than $250K a year. That might sound okay to the average person who makes less than $100K but this has serious potential impacts to our economy.
Barack Obama has said basically the same thing (with an additional twist). He has said that he will tax on one class and lower taxes on other classes to create wealth transfer. He is proposing more tax credits to the elderly and poor (who pay little or no taxes to begin with).
If you create a wealth transfer system like the Democrats are pushing, you will create disincentives for people to create new businesses. Existing companies will not make investments. Wealthy individuals will not provide capital (equity and loans) and will move their money elsewhere.
This means fewer jobs being created. The cost of capital (money) will increase for people borrowing money. The Democrats will then push for more entitlements for the people effected thus continuing to expand the government handouts.
We need to stand up and end the entitlement in Washington. The socialist ideals that the Democrats are promoting will not help our fragile economy - it will push it deeper into despair.
Note 1 - In the coming weeks, I will address how the Democrats are threatening our rights of owning property.
Note 2 - You are allowed to pay the federal government more in taxes if you want. Maybe the celebrities like Clooney and Damon who are campaigning for Obama should pay more in taxes if they feel that strongly about being "patriotic" like Biden said.
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In Friday night's debate (26Sep08), Obama invoked the class warfare arguement as the problem in the US saying that wealth should be re-distributed and corporations should be taxed heavily. That approach will not create jobs or wealth, only more government entitlements.
This is true if you beleive is not going to raise taxes on lower and middle classes. However, there are number of new taxes for gas, payroll, and home sales that will effect everyone.
Even if he only taxed businesses more, that would trickle down through higher prices to consumers. In the end, he wants to find ways to support his government expansion programs.
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