Obama is no Socialist

Republicans seem to like to throw the word socialism around in an attempt to falsely define Barack Obama. During the campaign this was true and it certainly is true today. It seems like they have to try to portray him as something worse than "liberal". Sarah Palin had a real knack for whipping up hatred in the crowd to try and make this point. I'm losing patience with the right wing of the Republican party over this issue as are many democrats ( "The Democratic Daily" has a great post regarding this issue).

Take for example, the Republicans that fought against bailout money for major American corporations. These folks told us time and time again, let capitalism work and let these corporations file for bankruptcy. They speak of fears that Obama will nationalize banks and the auto industry. He has actually been avoiding this strategy with his every breath. I think that he may be wrong by trying to save these companies that are perceived to be too big to fail. By fighting to prevent bankruptcy, Obama has taken a course that is the opposite of socialism.

To the Republicans out there that disagree with the administration and feel that bankruptcy is the way to go; I have this message for you, get a f*****g clue. When a company files for bankruptcy protection, the company is taken over by the government. Decisions are made by a bankruptcy court, not the corporation. So stop trying to paint Obama as the socialist when you folks actually argue on the side of nationalizing these businesses through bankruptcy protection. That's right Republicans, many of you have been arguing for socializing businesses while Obama has been trying his best to keep these companies private.

Another case in point; Republicans have been screaming about Obama's demand that the Bush tax cut for the wealthiest Americans be returned to the level of the Clinton Administration. Does the notion of "creeping socialism" strike fear in your heart? This is the great claim of Republicans across this country. Obama is only trying to return this Nation to normalcy after a disastrous 8 years of failed economic and foreign policy. Returning the tax rate for the highest income bracket to 39.6% from its current 35% is not socialism. Republicans are wrong, disingenuous, arrogant and stupid when they draw this inference.

The taxation level for the highest income bracket during Ronald Reagan's presidency was 50%; during Nixon's presidency it was 70%; during Eisenhower's presidency it was 91%. To see a full report from the "Washington Monthly"; (click here). Did you notice that the administrations mentioned were all Republican administrations? What a bunch of socialists here!

Barack Obama is a true defender of capitalism from what I can see. His defense of corporations and desire to keep the government's hands off, may be a flaw in his strategy. I think that bankruptcy is inevitable for some corporations and any corporation that is too big needs to be dismantled. Lean and mean is the best way to protect capitalism.

tomtoak