Obama Favors Income Redistribution (VIDEO)

Moneybox
A blog about business and economics.
Sept. 19 2012 12:29 PM

Shocking New Video Shows That Obama Favors Income Redistribution

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A demonstrator fancy dressed as US President Barak Obama (L) and a transvestite join thousands of people marching along Rio Branco avenue in Rio de Janeiro on November 10, 2011, to protest against a bill to redistribute oil royalties in Brazil.

Photo by ANTONIO SCORZA/AFP/Getty Images

Yesterday, Matt Drudge and the conservosphere spent a fair amount of time discussing a 1998 video that showed Barack Obama saying he favors income redistribution. I have even more convincing truth from just earlier this summer.

Watch:

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Yes, it's true, I just embedded an Obama campaign ad. A campaign ad in which his campaign talks about their plan to make "millionaires to pay a bit more" in order to "invest in a strong middle class" and various public programs. He wants, in other words, to tax the rich in order to "spread the wealth around" a bit exactly as he said he would on the campaign trail in 2008.

Conservatives are obviously free to object to this policy if they want to, but acting like it's some shocking revelation is absurd. This is Obama's stated agenda and always has been.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.