Obama Wants to Redistribute 40% of Your Child's Halloween Candy...Oh and Your Money.

I have been trying to find the positive attributes of Barack Obama, especially since he'll probably be our President. For instance, his ears are kind of funny. And, I think it would be awesome to see the President playing pickup basketball games at Rucker Park on 155th in Manhattan. All joking aside though, I think that the President should always be respected. You can disagree with ideology, personal behavior, but the Office of the Presidency should be respected. This latest interview from Chicago Public Radio in 2001, however, is the proverbial straw. It's not our right to have money. It's not our right to be fiscally stable. Our rights are simply the protection from infringement from the governement or any other party that would affect our lives, our liberties, or our properties. Socialism has never worked. In an article, Why Socialism Failed, Mark J Perry writes about it's shortcomings.

"Socialism is the Big Lie of the twentieth century. While it promised prosperity, equality, and security, it delivered poverty, misery, and tyranny. Equality was achieved only in the sense that everyone was equal in his or her misery.

In the same way that a Ponzi scheme or chain letter initially succeeds but eventually collapses, socialism may show early signs of success. But any accomplishments quickly fade as the fundamental deficiencies of central planning emerge. It is the initial illusion of success that gives government intervention its pernicious, seductive appeal. In the long run, socialism has always proven to be a formula for tyranny and misery.

A pyramid scheme is ultimately unsustainable because it is based on faulty principles. Likewise, collectivism is unsustainable in the long run because it is a flawed theory. Socialism does not work because it is not consistent with fundamental principles of human behavior. The failure of socialism in countries around the world can be traced to one critical defect: it is a system that ignores incentives.

In a capitalist economy, incentives are of the utmost importance. Market prices, the profit-and-loss system of accounting, and private property rights provide an efficient, interrelated system of incentives to guide and direct economic behavior. Capitalism is based on the theory that incentives matter!"

I'm no Warren Buffett. I didn't learn economic principles from Ben Graham, but I can deduce that there are no incentives if your income is redistributed. What's the point of success? If the principles are, "From each according to their abilities, to each according to their needs," as Marx insisted, then why excel in anything?

There needs to be an explanation of this video by Barack Obama, but I bet you won't even get a peep of this on most news networks. This level of biased journalism is unprecedented. I hope America is more awake than we appear.
http://www.fee.org/publications/the-freeman/article.asp?aid=4014