Obama’s Defense of His Tax Redistribution Scheme

Obama doesn’t get it.

Democrat Barack Obama on Wednesday brushed aside Republican charges that his tax plan amounts to socialism, but he acknowledged it involves “spreading around opportunity” so that wealthier Americans - like himself - pay a little more to help lower-rung workers.

The core of Obama’s plan would reverse tax cuts for Americans at the high end of the income scale that were passed during the Bush era. He noted that when those Bush-backed cuts were first proposed, his opponent for the White House, Republican John McCain, opposed them as irresponsibly targeted.

“Was John McCain a socialist back in 2000?” Obama asked at a news conference.

The socialism charge isn’t about the tax increase at the top end of the spectrum.  It’s about the tax handout at the bottom end to people who didn’t pay any income taxes.  If you read aaaaaaaaaaall the way to the end of the story, the reporter addresses this.

On taxes, McCain launched a new attack over the weekend, saying Obama’s plan to provide a $500 tax credit would include even those who pay no taxes and “convert the IRS into a giant welfare agency, redistributing massive amounts of wealth at the direction of politicians in Washington.” McCain has accused Obama of favoring socialistic tax redistribution policies.

Obama’s response at the news conference did not address the $500 tax break.