Besides his other doubtful interpretations of President Barack Obama's speech, David Welch in his letter ("A reason not to re-elect Obama," July 22) is misinformed about what socialism is. Strident political leaders, who probably know better, want you to think socialism is a great evil. But socialism's underlying assumption is that people are, by natural rights, equals. True socialists value democracy as a vital political principle. You'd think anyone could support that.
Modern socialism was an 18th-century intellectual and working class political movement criticizing the horrific effects of industrialization and private property on society. Read Charles Dickens stories and think of socialism as protecting Tiny Tim and Bob Cratchett from Scrooge. Despite Mr. Welch's assertion, there never was "deprivation, poverty and death" under any socialist country. Perhaps he's confusing the Nazi and Communist dictatorships with socialism, totally incorrect, but what many politicians seem to imply.
No reasonable person claims businesses should have all profits taken away. All profits, however, are income the same as that earned by the road builder or teacher. Everyone needs to pay a fair share and business owners probably have more to lose if conditions deteriorate as well as more to gain if they get better.
Obama's proposals will have virtually no effect on most of us small business owners. I wish I was making enough money to have to pay taxes on more than $250,000. But even if I made a half-million, taxes would raise less than $8,000. Expiring tax cuts are needed to help balance the budget and put those road builders and teachers, my customers, back to work.
ROGER SAVOY
Troy