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Tuesday, August 19, 2008

Confiscatory Tax Rate Dreams from my Father

When I discuss tax policy with Liberals I ask if there is a limit to the part of men’s earnings they would take.

Obama’s answer appears to be “no.”

This is a must read piece from Investors Business Daily. Barack Obama seems to have spent a lifetime pining for the father who abandoned him at age 2. His first autobiography (and what 47 year old doesn't need two?) was dedicated to the man. Now he has issued the essential blueprint for the Obama Tax Code, and we find that it too is part of dad's legacy.
"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." Yes, you read it: a 100% tax rate is fine. Obama Sr. continued, " It is a fallacy to say there is a limit (to tax rates), and it is a fallacy to rely mainly on individual free enterprise to get the savings."

Obama seems to have adored his father. Knowing about his other associations: Wright, Ayers, Rezko; is it fair to ask about his father's tax policies?

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