27 October 2008

Obama on Redistribution of Wealth

Before you vote, listen to this radio interview given by Barack Obama in 2001.

Obama sounds like my college professor talking about "redistributive justice" in a Modern Political Theory seminar. Theoretical discussions in an academic setting are meant open our minds. But in politics, ideas have real consequences.

What we need to redistribute fairly in our society is the opportunity to create or amass wealth, not wealth itself. Congress already taxes our income and redistributes our money as it sees fit. But there comes a point where redistribution blunts the initiative of those who would otherwise create wealth. The more driven of them simply leave for better opportunities in other societies. That's how we got so many talented immigrants to come to America. Too much redistribution of wealth would reverse that flow by diminishing opportunity.

Does Barack Obama know this?

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