I like the headline NBC News releases full Obama ‘redistribution’ video, Romney campaign in trouble from the Examiner article.
At MSNBC the headline is In rest of ’98 clip, Obama speaks of ‘competition’ and ‘the marketplace’.
Thanks to Tangelia Sinclair-Moore for posting all of this on her Facebook page. This is where I first heard about the full video.
My reaction to Tangelia’s post was:
It’s beautiful the way the Republicans are getting sucked into a debate that they cannot win. It is about time we have a discussion about whether we should redistribute wealth upward by awarding lower tax rates for passive income over earned income, or we should keep the income where it was earned by having the same tax rate structure for all kinds of income.
If you are worried about the poor people who depend on income from investments that they made with their earned income, then we can keep the capital gains rate for capital gains and dividends for all those families earning less than $250,000 a year. This would confine the tax break to where it is really deserved and needed.