Obama Has a Mandate to Spread the Wealth

Discussion in 'Stock Market' started by coolgeee, Nov 21, 2008.

  1. coolgeee

    coolgeee Member

    Jul 21, 2008
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    Two days before he lost the election, John McCain summarized what had become the central message of his campaign: "Redistribute the wealth, spread the wealth around -- we can't do that."

    Oh yes we can.

    The 2008 presidential election became something of a referendum on "spreading the wealth."

    "My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody," Barack Obama said on Oct. 12, in a conversation with an Ohio resident named Joe. The candidate quickly added: "I think when you spread the wealth around, it's good for everybody."

    McCain eagerly attacked the concept, most dramatically three days later during the last debate. While instantly creating the "Joe the Plumber" everyman myth, McCain sharpened the distinctions between the two tickets while the nation watched and listened. He charged: "The whole premise behind Senator Obama's plans are class warfare -- let's spread the wealth around."

    Obama has routinely reframed the issue in terms of fairness. "Exxon Mobil, which made $12 billion, record profits, over the last several quarters," he replied during the final debate, "they can afford to pay a little more so that ordinary families who are hurting out there -- they're trying to figure out how they're going to afford food, how they're going to save for their kids' college education, they need a break."

    This fall, the candidates and their surrogates endlessly repeated such arguments. As much as anything else, the presidential campaign turned into a dispute over the wisdom of "spreading the wealth." Most voters were comfortable enough with the concept to send its leading advocate to the Oval Office.

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    Obama Has a Mandate to Spread the Wealth

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