Monday, October 20

McCain, Palin Call Bank Bailout Not "Socialism"

While beating Barack Obama over the head for saying that increasing taxes for those over $250,000 to allow those earning less to get tax relief(after eight years of paying for the top %5's tax break) is akin to socialism, both John McCain and Sarah Palin refuse to concede that it is more socialistic to hand over $750 to $850 billion in taxpayer dollars to banks, automotive manufacturers, and insurance companies.

"I believe that there are those measures that had to be taken by Congress to shore up not only the housing market but the credit markets -- also to make sure that that's not frozen -- so that our small businesses have opportunities to borrow. And that was the purpose, of course, and that part of the bailout and the shoring of the banks," Palin said. So, to allow small businesses (aka Mom and Pop businesses) to borrow money, we have to make Mom and Pop pay for bailing out the banks they need to borrow money from? I don't know if that is socialism, but it sure is a bizarre form of a free market.

McCain said, "That's the reason why we have governments, to help those who need help, who can't help themselves, and in a time of crisis, to step in and do what's necessary to preserve the lives and futures of innocent people. It wasn't Main Street America that caused this; it was Washington and Wall Street." And yet, it is Main Street that is paying for Wall Street. If it walks like socialism, and talks like socialism, it must be socialism?

The fact is that McCain and Palin represent a viewpoint that says it's okay for the wealthy to get richer by taking it from the rest of us, whereas Obama and others believe its fair to ask the wealthy to pay their share. After eight years of Paul robbing Peter, isn't it time that Pete caught a break?

1 comment:

Anonymous said...


Should The top management of the Public listed company be responsible for the company performance, eg company nearly get wind up?

Are you a Partisan?

Should they give their view......?