20 September 2011

Obama gets some moxie

I met with a financial adviser yesterday, not an unreasonable guy in most respects, but in the course of our conversation he accused Pres. Obama of being "misleading" about taxes because he didn't mention that most people paying under $50,000 pay lower tax rates than the rich, due to deductions. Not only is this pretty much just a rightist talking point, it's not even true in a technical sense.

But the main point is the bigger picture, as I tried to explain. We've had 35 years of accelerating wealth transfer from working and middle class people to the very rich, and the tax code is a major factor (although, as Dean Baker points out, not the largest factor) in that. That is a fact.

Anyway, I just want to go on record as saying, like Michael Moore on Rachel Maddow's show last nigh that the president's speech yesterday, was one of the most encouraging in a long time. He seems to finally have decided to have some fight and defiance in his rhetoric. I loved the way he made clear that budget cuts without revenue fairness will get a veto.

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