Yes, that is true that politicians truncate and take out of context all the time (just listen to a floor debate in Congress. man, oh man), but that is not an excuse. In this case it was blatantly done to try to distract from the recording of Romney. It was one of those, oh shit moments where they scrambled to find something else to put the heat on and they hurried and got burned again.
And interestingly enough, FOX news had on the front page all sorts of articles trying to compare Romney's words with Obama's words. Suddenly, they are nowhere to be found. That alone should tell you that this article is legit!
Edit: I was able to find the articles on fox, but you have to specifically search for them. They are no longer there for the public to see when they browse the site. Here's an
example of one. I love the picture they chose ;)
I agree, I don't normally read that newspaper either, but in this case I don't find fault with why they gave the pinocchio nose for this.
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On a separate note, redistribution is not a bad word. Redistribution is actually how our government works, and it has worked since it's conception. Every deduction you make on your tax return is redistribution of wealth. The gov't has things they want to achieve and they use redistribution of the taxes paid to encourage the acts.
For example, the gov't wants people to make more babies, so they will give a tax deduction for every child under 18 you have. That money comes from the pool of taxes paid by the people and goes to those who have children.
Another example is the tax deduction on mortgage interest. The gov't has been pushing people toward home ownership for decades based on the theory that owners take care of their stuff, and this is one way to do it. You get money back on the interest you pay. Or, back in 2008, Obama did that 8000 cash back for new home owners.
Food stamps is another example. The nation decided that we can't let the poorest of the citizens starve, so they use tax money to supplement the living of these poor. A clear redistribution of wealth.
Heck, the oil industry write-offs or the deductions for yacths are redistribution of wealth (just upwards).
So my point here is that even if Obama's quote had been as originally shown by Romney, I still would have taken fault with Romney's attack.
My love for you is like a truck..