Smith, Teddy Roosevelt, Dwight Eisenhower, Ron Reagan: All for "redistribution of the wealth"

[zulchzulu]

Here are some quotes regarding "redistribution of the wealth" from left-wing lunatics* like Adam Smith, Teddy Roosevelt, Dwight Eisenhower and Ron Reagan regarding legislation they supported in their time that would be considered "too far off center" from the likes of the McCain campaign.

“The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”

- Adam Smith

"I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective: a graduated inheritance tax increasing rapidly with the size of the estate.”

- Theodore Roosevelt

“Every dollar spent by the government must be paid for either by taxes or by more borrowing with greater debt. The only way to make more tax cuts now is to have bigger and bigger deficits and to borrow more and more money. Either we or our children will have to bear the burden of this debt. This is one kind of chicken that always comes home to roost. An unwise tax cutter, my fellow citizens, is no real friend of the taxpayer."

- Dwight D. Eisenhower

In 1986, Reagan signed legislation greatly increasing the earned income tax credit, a credit for low-income workers that reduces the impact of payroll taxes in order to boost take-home pay above poverty levels. When the credit is more than the amount of federal income taxes owed by an individual, that person receives a tax “refund.”

“It's the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress.”

- Ronald Reagan

http://thegreenbelt.blogspot.com/2008/10/adam-smith-and-ronald-reagan-socialists.html

[justiceischeap]

1. k&r nt

[Nitrogenica]

2. Great job!

[zulchzulu]

3. Actually David Gergen pointed out the basics and I went ahead and got the quotes

Gergen was on Cooper's show on CNN last night. Hopefully there is a transcript. It was brilliant.

[mohc]

4. Everytime McCain complains about the refundable tax credit

My head wants to explode. A refundable tax credit is the CENTERPIECE of McCain's health care plan. And while the credit Obama is proposing is tied to work, McCain's credit is only tied to having health insurance, which would include many non-workers. So in fact the only person that is proposing a tax credit that might be "redistributing" wealth to someone not working is McCain. Why this is not repeated every time McCain tries to push this spread the wealth nonsense is beyond me.

[zulchzulu]

7. Agreed!

It's as though McCain doesn't even know his own policies... like you said, the refundable tax credit for people to go out and try to find healthcare that also comes from taxing them ...

[zulchzulu]

5. David Gergen's brilliant answer to the McCain "socialist" and "redistribution" screeds

I thought Gergen was brilliant when talking about this "issue" and it is certainly something the Obama campaign needs to broadcast immediately.

COOPER: It's certainly a question the McCain campaign has kind of been hammering at, portraying Obama as a socialist. You hear that on -- on the Palin campaign as well.

Is it working?

GERGEN: They may be making some modest progress with it, Anderson. We did see some evidence of McCain coming up a point or two here and there. I don't think it's anywhere near close enough to win an election. And more importantly, I don't think the Democrats have really answered it appropriately.

You know, Teddy Roosevelt, a Republican, was very much an advocate of what's called progressive taxation. Ad that is the rich pay more than the poor in terms of taxes.

Now, one of the most effective popular programs we've had in the last three decades. It's called the earned income tax credit. It's a program whereby, if you're a working person, a working couple and you're below the poverty line, the government will actually give you money. That's a redistributed program. It's a program which takes money from the upper classes and gives it to the lower -- to the working poor.

Now who started that program? The earned income tax credit? Ronald Reagan. It was one of the -- it was an achievement of the Reagan administration that Bill Clinton then built on.

So I think that these arguments are -- you know, some of them get so carried away that they don't recognize the realities of what we've been going through in public policy and the big arguments about why the wealth over the last 30 years has been redistributed. It's been redistributed upwards.

http://transcripts.cnn.com/TRANSCRIPTS/0810/27/acd.01.html

[PA Democrat]

6. K & R. The modern Republican Party is all about greed and enabling

more income redistribution upward to the very wealthiest Americans at the expense of the poor and the middle class.

The earned income tax credit was originally proposed by Nixon, and was signed into law by Ford with bipartisan congressional support. Modern Republicans have moved so far to the extreme right that even former Republican presidents would not support their modern agenda.