The Republican says his rival would turn the IRS into a giant ‘welfare agency.’ The Democrat calls McCain out of touch and says his middle-class tax cut would benefit only working people.Obama has said that his plan would cut taxes for 95% of working Americans, including Wurzelbacher. McCain has said 40% of Americans don’t pay income taxes, either because they are elderly or don’t make enough money.
“In other words, Barack Obama’s tax plan would convert the IRS into a giant welfare agency, redistributing massive amounts of wealth at the direction of politicians in Washington,” McCain said in his radio remarks.
Strategists for the Arizona Republican see Obama’s spread-the-wealth comment as a major gaffe — providing an opening on an issue that has worked to the benefit of the Democratic nominee amid the nation’s financial crisis.
Socialist theory calls for collective ownership of most private enterprise and for an egalitarian society. Karl Marx argued that socialism was a transitional phase between capitalism and communism.