Obama "spread the wealth"

GIULIANI: Let's go the first one. The $200,000 or less.

COLMES: Right.

GIULIANI: Let's take him at his word. He's going to reduce taxes for people earning $200,000 or less.

COLMES: Right.

GIULIANI: Forty to 50 percent of those people don't pay taxes. That means he's going to send them a welfare check. He's going to send them money. He's not reducing taxes.

COLMES: Well, but they do.

GIULIANI: He's giving them " he's giving them a transfer payment.

COLMES: They pay payroll taxes.

GIULIANI: He's doing exactly what he told Joe the Plumber. Well, then he's changing our Social Security system from an insurance system to a welfare system.

COLMES: How is.

(CROSSTALK)

COLMES: How is that different than John McCain giving $5,000 to everybody for health care? Isn't that a handout? And where's John McCain going to get the money.

GIULIANI: No. No.

COLMES: . to give anybody $5,000 to put for health care?

GIULIANI: He's not going to give " he's not going to give anybody $5,000, that is totally misrepresenting his program, as you say we do. The reality is he's going to give you a tax credit for $5,000. We get tax credits for all kinds of things. That's not a handout.

COLMES: Isn't that a handout? Of course (INAUDIBLE) come from.

GIULIANI: It's a deduction, it's a deduction.

HANNITY: The tax cut.

GIULIANI: . from the income that you earned. It's a tax credit like you get a tax credit for tuition, like you get a tax credit for other things.

COLMES: That is redistribution of wealth.

L. KING: Concerning spreading the wealth, isn't the graduated income tax spreading the wealth?

MCCAIN: The graduated income tax...

L. KING: If you and I paid more so that Jimmy can get some for him or pay for a welfare recipient, that's spreading the wealth.

MCCAIN: Well, that's spreading the wealth in the respect that we do have a graduated income tax. That's a far cry from taking from one group of Americans and giving to another. I mean, that's dramatically different.

“We’re not just gonna concede to three big oil companies of this monopoly"Exxon, B.P., ConocoPhillips"and beg them to do this for Alaska,” Palin told me last month in Juneau. “We’re gonna say, ‘O.K., this is so economic that we don’t have to incentivize you to build this. In fact, this has got to be a mutually beneficial partnership here as we build it. We’re gonna lay out Alaska’s must-haves. Parameters are gonna be set, rules are gonna be laid out, a law will encompass what it is that Alaska needs to protect our sovereignty, to insure it’s jobs first for Alaskans, and in-state use of gas’ ”"her list went on. In the past, she said, “Alaska was conceding too much, and chipping away at our sovereignty. And Alaska"we’re set up, unlike other states in the union, where it’s collectively Alaskans own the resources. So we share in the wealth when the development of these resources occurs.” And she said, “Our state constitution"it lays it out for me, how I’m to conduct business with resource development here as the state C.E.O. It’s to maximize benefits for Alaskans, not an individual company, not some multinational somewhere, but for Alaskans.”

Alaska is sometimes described as America’s socialist state, because of its collective ownership of resources"an arrangement that allows permanent residents to collect a dividend on the state’s oil royalties. It has been Palin’s good fortune to govern the state at a time of record oil prices, which means record dividend checks: two thousand dollars for every Alaskan. And because high oil prices also mean staggering heating bills in such a cold place"and because it’s always good politics to give money to voters"Palin got the legislature this year to send an extra twelve hundred dollars to every Alaskan man, woman, and child.

You both have very short, partisan memories.

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