Jesus has been tugging on my heart recently about this upcoming presidential election. I have been in support of one candidate for a couple of months now, but friends and family on the other side of the fence are screaming for me to come join them. I am not one to be easily swayed by unfounded arguments, and I feel like most of what they have presented are just long-held traditional values and nothing more.
I have been struggling particularly with this idea of “redistributing the wealth” as Obama has been quoted saying over and over. At first I supported the idea, because Obama is sternly against corporate greed and corruption of executives. Makes good sense, but I recently heard a convincing story against his plan, involving a waiter that wasn’t tipped because the customer “redistributed” his tip to a homeless man outside who is in greater need of the money. Your initial reaction to that kind of story (as was mine) is “that was a jerk thing to do” since the waiter did his job, earned his tip, and got nothing for it. But I understood the point and the relevance to Obama’s wealth plan.
So enough jibber-jab, here are my collective thoughts from both sides:
Arguments for Obama’s plan:
- Wants to tax higher-income households because they are the ones more capable of paying a higher tax.
- Fighting corporate greed by taxing them a higher percentage.
- Redistribution of wealth is indeed a socialist idea. But he isn’t talking about taking wealthy citizen’s money and giving it to low-income families. He is talking about funding the federal government by taxing the nation’s wealthiest sources.
- Higher taxes on businesses will force them to run more efficiently (that’s the idea, at least. Many will probably just as soon layoff employees rather than cut executive spending).
Arguments against Obama’s plan:
- It’s not fair. For those that work hard and earn great wealth, they should not be “punished” by being forced to pay higher taxes.
- Many low-income individuals are at the bottom simply because they are not motivated to better their situation. Therefore they should not be “rewarded” with lower taxes.
- Corruption is probably equally as prevalent among low-income individuals than it is in big business, but big businesses are the ones that make headlines.
In essence I feel like raising taxes on big businesses will probably result in cutting jobs, raising prices, and outsourcing labor internationally. But that is because they will NOT cut executive salaries, reduce wasteful spending, or improve their processes. I would rather love to keep business taxes low, but I’m too skeptical of the executives running the firms. Read Alston D. Pete Correll’s Commencement Speech from August 2005 and you’ll understand what I’m talking about.
If McCain seemed like he was more concerned about corporate greed and fixing that problem, he would make me feel better for voting for him. But I just can’t do it.