Posted on 03/26/2009 12:05:13 PM PDT by broken_arrow1
As a Nairobi bureaucrat, Barack Hussein Obama Sr. advised the pro-Western Kenyan government there to "redistribute" income through higher taxes. He also demonized corporations and called for massive government "investment" in social programs.
Writing in a 1965 scholarly paper, Obama's late father slammed the administration of then-President Jomo Kenyatta for moving the Third World country away from socialism toward capitalism. He chafed at the idea of relying on private investors — who earn "dividends" on their venture capital — to develop the country's fledgling economy.
"What is more important is to find means by which we can redistribute our economic gains to the benefit of all," said the senior Obama, a Harvard-educated economist. "This is the government's obligation." The "means" he had in mind were confiscatory taxes on a scale that redefines the term "progressive taxation."
"Theoretically," he wrote, "there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed."
Therefore, he added, "I do not see why the government cannot tax those who have more and syphon some of these revenues into savings which can be utilized in investment for future development."
As Obama's father saw it, taxes couldn't be high enough, so long as the collective benefited. "Certainly there is no limit to taxation if the benefits derived from public services by society measure up to the cost in taxation which they have to pay," he said. "It is a fallacy to say that there is this limit, and it is a fallacy to rely mainly on individual free enterprise to get the savings."
His son is also pushing massive taxes and "investments" in social programs — at the expense of free enterprise. Sen.
(Excerpt) Read more at ibdeditorials.com ...
100% taxes... yay
/sarc
BHO is a hater, no doubt.
The Mac Daddy’s Daddy speaks...
It doesn’t sound like a very enjoyable life these folks have in mind for the rest of us.
DUMB AND DUMBER!!!!!!!!!!!!
DUMB AND DUMBER!!!!!!!!!!!!
DUMB AND DUMBER!!!!!!!!!!!
bump
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.