September 20, 2011


Is Barack Obama the American Neil Kinnock? (Nile Gardiner, September 20th, 2011, The Telegraph)

Barack Obama reminds me of Michael Foot and Neil Kinnock when they were Labour Party leaders in the 1980s, both out of touch politicians stuck in the language of class war, and devoid of any real ideas to create jobs and generate wealth. Back in June 1983, Prime Minister Margaret Thatcher had a terrific response to the rather pathetic class war warriors of the Labour Left, telling ITN:

The really divisive policies are those of the Labour Party who start to talk about 'class war', 'class struggle'--all the old Marxist language. That is outdated. It is not suitable for Britain. I thought when the first Parliament which I came into, in Harold Macmillan's time, we got rid of all that stuff. It is ridiculous--it belongs to a different age. They brought it back and it's they who deliberately set out to be divisive. We are British and I do not divide between one group and another.

Divisive class war rhetoric didn't convince voters in Britain a generation ago, and it certainly won't succeed in America today. This is an extraordinarily foolhardy approach to take for a president in a nation that prides itself as a land of freedom and opportunity, where the vast majority of people aspire to succeed and reach the top regardless of background.

The Progressivity of the Tax System (Greg Mankiw, 9/20/11)
If you can remember only one fact, make it this one: The middle class (middle quintile) pays 14.1 percent of its income in federal taxes, while the rich (top tenth of one percent of the population) pay 30.4 percent.

Posted by at September 20, 2011 9:11 PM

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