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“Spreading The Wealth Around” Narrows Spread

Monday, October 20, 2008  |  posted by Hugh Hewitt

Last week Senator Obama told Joe the Plumber that “spreading the wealth around” was a good thing, and Joe the Plumber became the star of Wednesday night’s debate.

Now Rasmussen shows the race at 50-46, with McCain ticking up in yesterday’s tracking. The endorsement by Colin Powell dominated yesterday’s headlines, but the race will focus for the next two weeks on how do Americans get their money back lost in the market swoon, and once they get it back from the return of economic growth, how much will they be allowed to keep?

Voters have begun to focus on the question of repairing their retirement and savings accounts, and thus on who is the candidate best prepared to help them do that. Obama’s massive tax hikes will not only prolong and deepen the recession, they will grab the upside of the market recovery for the Treasury and –because of soaring death tax rates– the Greatest Generation’s estates won’t be flowing down to the grandkids either. The shock of the market sell-off is passing, and in its place is a last look at the candidates. An Obama-Pelosi-Reid troika will shutter the creation of wealth in the country, though it will do an extremely good job of spreading existing wealth around through massive transfers through the federal government.

John McCain should also send Joe Biden a thank you note for issuing a reminder of what’s ahead in the world:

“Mark my words,” the Democratic vice presidential nominee warned at the second of his two Seattle fundraisers Sunday. “It will not be six months before the world tests Barack Obama like they did John Kennedy. The world is looking. We’re about to elect a brilliant 47-year-old senator president of the United States of America. Remember I said it standing here if you don’t remember anything else I said. Watch, we’re gonna have an international crisis, a generated crisis, to test the mettle of this guy.”

“I can give you at least four or five scenarios from where it might originate,” Biden said to Emerald City supporters, mentioning the Middle East and Russia as possibilities. “And he’s gonna need help. And the kind of help he’s gonna need is, he’s gonna need you – not financially to help him – we’re gonna need you to use your influence, your influence within the community, to stand with him. Because it’s not gonna be apparent initially, it’s not gonna be apparent that we’re right.”

No growth in the economy. High taxes for what growth does happen. And enemies intent on “testing” the inexperienced Obama.

The race will end in a dead heat in the polls, just like 1976, and despite Obama’s hundreds of millions of dollars. Americans like to keep the money they earn, and they like to pass along the product of the work of their lives to their families. We are an aspirational people (see Steyn, ht and Obama’s spread-the-wealth program is anti-aspirational.

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