Obama: Looks like the Communist nut didn't fall far from the tree.

An Investor's Business Daily blast from the past - August 2008.

 Eerily prescient and almost spooky.

Daddy dearest.     --->

Barack Obama's economic blueprint sounds like one his communist father tried to foist on Kenya 40 years ago, with massive taxes and succor shrouded as "investments."

As a Nairobi bureaucrat, Barack Hussein Obama Sr. advised the pro-Western Kenyan government there to "redistribute" income through higher taxes. He also demonized corporations and called for massive government "investment" in social programs.

Writing in a 1965 scholarly paper, Obama's late father slammed the administration of then-President Jomo Kenyatta for moving the Third World country away from socialism toward capitalism. He chafed at the idea of relying on private investors — who earn "dividends" on their venture capital — to develop the country's fledgling economy.

"What is more important is to find means by which we can redistribute our economic gains to the benefit of all," said the senior Obama, a Harvard-educated economist. "This is the government's obligation." The "means" he had in mind were confiscatory taxes on a scale that redefines the term "progressive taxation."

"Theoretically," he wrote, "there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed."

Therefore, he added, "I do not see why the government cannot tax those who have more and syphon some of these revenues into savings which can be utilized in investment for future development."

There's more at the link.  And the full text of the original Obama Sr's. paper can be found at this pdf.

Comments

[janice]

I can't believe this! I can't believe this country, willfully elected an open communist.

Is anyone, anyone besides me, scared to death? Our nation will be unrecognisable by the end of his term.

God help us....

[Dinah Lord]

Miss J. I am trying not to freak out here as well, but I'm watching stuff go down and definitely getting a "Danger Will Robinson" vibe. (And being my twin I know YOU know what I mean when I say the "Danger Will Robinson" vibe always precedes my "Sarah Conner" vibe.)

It's been like watching a train wreck in slo-mo the last 66 days.

Here's my deal - I knew Obama had issues because of his family and mixed race. There was no denying that he was a red diaper baby. You can't discount the fact that the first African Student at the University of Hawaii (aka Daddy Dearest) met the fair Ann (aka Mommy Dearest) in Russian language class. That originally gave me bad vibes there. And there IS that whole Frank Marshall thing. That made all sorts of bells and whistles go off but I said, nah, don't be all crazy Dinah.

I'm starting to think it's not all that crazy and let me tell you that watching him act out these issues against the backdrop of our country is making me very concerned.

It's actually gotten me paying attention to the financial markets again after shunning them for 20+ years. Now THAT'S really scary.

(Leaning over the back fence: Believe me when I tell you I was burnt to a crisp when I left the Street.)

[Richard]

Invest, invest, invest!

http://www.youtube.com/watch?v=qmkiJ2gSyNI

[Dinah Lord]

Oh Richard, you rock.

[Granny]

Janice, some of us read Daddy's paper a year ago and we have been petrified ever since. We had good reason to state that The One is a Marxist who bodes our nation no good. Unfortunately, there are those who poo-pooed the very idea. And now it is too late.