Tuesday, March 31, 2009
Barack Obama - and his father
This might be one time I agree that children shouldn't listen to their parents...
I found this at Investors Business Daily:
"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.'"
