One Scary Man

Senator Obama stepped in it again during his interview on Fox News Sunday. His leftwing colors were ablaze. He may not like the war in Iraq, but he is a big proponent of class warfare. And it was clear that he either hates, or doesn’t understand the tenets of capitalism.

His performance was frightening.

Chris Wallace asked him a simple question regarding the Senator’s determination to raise the taxes on capital gains. Of course, the illustrious Senator from Illinois was aghast that anyone would suggest that the tax increase he has proposed would touch the Middle Class.

There is a reason he is a politician and not a financial planner. He is either fiscally challenged, or just another conniving socialist. You decide.

Senator Obama’s answer was very articulate. He wants the government to collect more of the money the wealthy earn on their stock investments. In his worldview, this evil segment of society is getting a free ride because capital gains taxes are lower than income taxes.

Senator Obama believes, for fairness, the government must take more of this money and use it for entitlements. His opponent, Senator Clinton, calls this shared responsibility. In effect, they want the government to confiscate more of the money used to seed, grow and create jobs.

This is the antithesis of capitalism; it’s pure socialism.

Senator Obama was very articulate. He correctly clarified that the stocks held in 401ks by the Middle Class are only subject to personal income taxes when they are withdrawn after retirement. He went on to state that an increase in the capital gains taxes wouldn’t touch 401ks.

He is either economically daffy, or his ignorance is appalling.

If we give him the benefit of the doubt, this presidential contender isn’t aware that 401k retirement investments are frequently changed.

Hey, Senator! Here is some news. Individuals, looking for a better return on their retirement investments, have the right to trade the stocks in their 401k portfolio. It’s a common practice.

Any profits accrued on the original investments prior to their sale are currently subject to capital gains taxes, even if the funds are not removed from the 401k. Your proposal will nearly double the taxes siphoned from these transactions. Your proposal steals the funds that people are relying on for retirement, and the potential growth of the confiscated principle.

Whether you are a liar, or just ignorant, it’s apparent Senator Obama that you are willing to raid the retirement accounts of ordinary Americans to build socialism. You are a virus, Comrade Obama. You represent the blight eating away America’s future. You are scary.