Wednesday, September 15, 2010

Obama's dad: Nightmares from his father

Problems Facing Our Socialism – Barak H. Obama
The following critique, originally published in the East Africa Journal in 1965, was written by Barak H. Obama, father of the current US Democratic frontrunner, in response to the Kenyan government’s ‘Sessional Paper No. 10,’ which had been published earlier that year. The author of the Sessional Paper was Mwai Kibaki. Obama senior was working on his doctorate in economics at the time.
Theoretically, there is nothing that can stop the government from taxing 100 percent of income. Assuming that development and the achievement of a high per capita income is a benefit to society as a whole I do not see why the government cannot tax those who have more and steal siphon some of these revenues into savings which can be utilized in investment for future development, there by reducing our reliance on foreign aid.

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