by Paul Celan Wed Oct 29, 2008 10:37 am
Well, honestly it is probably a bad idea to get involved in a political discussion when we are all trying to stay friends, however . . .
Let me say that I do not thing a progressive tax has anything to do with socialism. In fact, Adam Smith in The Wealth of Nations, which is more or less the equivalent of the Capitalist Manifesto wrote, "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. A tax upon house-rents, therefore, would in general fall heaviest upon the rich; and in this sort of inequality there would not, perhaps, be anything very unreasonable. It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
Consequently, if Adam Smith thought a progressive tax (whereby poorer people are taxed at a lower %) was a moral imperative, one can hardly fault obama for doing the same.
The bottom line, however, is that the policies of the US government need to change if it is going to remain a super power. For too long, the US has avoided investing its considerable resources in a forward thinking way. When we should have been leveraging the intellectual capital that comes out of the world's best universities, instead we let science funding decline, built an economy on a pyramid scheme based on the false supposition that housing prices would go up forever and there was an unlimited market for them and tried to reduce how much science was taught to our children in biology classes.
Meanwhile, future competitive states such as India and China are doing everything in their power to industrialize and educate their workforce in such a way as to be globally competitive -- good for them, but the US needs to find demons other than "socialism" to blame for its economic woes. In actuality it was wall street greed, lack of technological investment, and backward government leadership over the past 8 years (mixed in with lots of military-industrial complex courruption) combined with many forces outside anyone's control that have led to the U.S.'s current predicament. I think that either McCain or Obama would be infinitely better than Bush, but strongly and fully endorse Obama for President because I feel that McCain has let himself be corrupted by the Republican campaign and has begun to say things that I know, from years of watching him in the Senate, that he does not believe. I hope that Obama can bring sound leadership and a new direction to this country, but there's a lot of inertia headed in the wrong direction and I'm very worried about my country's future.