Re: The Week in Blog: Negative Feedback Edition (Chris Moody & Matt Lewis)
1) As far as the President's ability to change the income distribution, I agree. This is a trend that has been in place for 30 years. It doesn't have anything to do with this administration's policies, and there is nothing this administration has done that will change the direction of the trend. To claim that Obama is a socialist whose project is to redistribute wealth ignores these basic facts.
2) As far as the tax structure, the 2010 tax deal between the administration and the Congress extended the Bush tax cuts, and added a 2% payroll tax cut, from 6.2% to 4.2%. The 2% tax cut amounts to 112 billion annually. If are to argue that it's ridiculous to claim Obama cut taxes, I'm not exactly sure how you can account for these facts.