I think the cocoon has been hermetically sealed

Let’s stipulate that I’m sympathetic to a lot of the economic arguments that James Pethokoukis makes on his Capitol Gains blog.  This post, however, makes me question his political judgment:  Did Barack “Spread the Wealth” Obama Just Blow the Election?  No. Really. You’re kidding me. Barack Obama actually told that Joe the Plumber guy that ...

By , a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast.

Let's stipulate that I'm sympathetic to a lot of the economic arguments that James Pethokoukis makes on his Capitol Gains blog.  This post, however, makes me question his political judgmentDid Barack "Spread the Wealth" Obama Just Blow the Election?  No. Really. You're kidding me. Barack Obama actually told that Joe the Plumber guy that he wants to "spread the wealth around." What, did Obama just get done reading the Wikipedia entry on Huey "Share the Wealth" Long or something? Was he somehow channeling that left-wing populist from the Depression? Talk about playing into the most extreme stereotype of your party, that it is infested with socialists. Let's review -- in the past two months, the Bush administration, with the bipartisan support of Congress, has essentially nationalized Fannie Mae, Freddie Mac, and AIG.  The Federal Reserve has promised to back the commercial paper market.  The Treasury Department has purchased equity stakes in nine major banks.  Loan guarantees have been thrown at the automobile sector.  After all this, I'm supposed to believe that an increase in the highest marginal tax rate from 35% to 39% is the ne plus ultra of socialism?   I want to see a flat tax as much as the next libertarian, but given the events of the past two months, I just don't think "spread the wealth" is the tipping point after which the Reds took over America.  Dear readers, am I overreacting or underreacting here?

Let’s stipulate that I’m sympathetic to a lot of the economic arguments that James Pethokoukis makes on his Capitol Gains blog.  This post, however, makes me question his political judgment

Did Barack “Spread the Wealth” Obama Just Blow the Election?  No. Really. You’re kidding me. Barack Obama actually told that Joe the Plumber guy that he wants to “spread the wealth around.” What, did Obama just get done reading the Wikipedia entry on Huey “Share the Wealth” Long or something? Was he somehow channeling that left-wing populist from the Depression? Talk about playing into the most extreme stereotype of your party, that it is infested with socialists.

Let’s review — in the past two months, the Bush administration, with the bipartisan support of Congress, has essentially nationalized Fannie Mae, Freddie Mac, and AIG.  The Federal Reserve has promised to back the commercial paper market.  The Treasury Department has purchased equity stakes in nine major banks.  Loan guarantees have been thrown at the automobile sector.  After all this, I’m supposed to believe that an increase in the highest marginal tax rate from 35% to 39% is the ne plus ultra of socialism?   I want to see a flat tax as much as the next libertarian, but given the events of the past two months, I just don’t think “spread the wealth” is the tipping point after which the Reds took over America.  Dear readers, am I overreacting or underreacting here?

Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner

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