I confess, John Edwards has never really excited me. I think the problem is that his brash, confrontational, tax the rich, I'm for 'the other America' is hypocritical and inauthentic, given the way he has milked the system to personally acquire a fortune worthy of Croesus.
Edwards has criticized "tax-free tax shelters for millionaires that are bigger than most Americans' paychecks for an entire year." But Edwards made a past art of 'gaming the system' for his own 'personal' version of corporate America.
Edwards was the sole employee and shareholder of his own corporation, which derived its income from his legal fees. He paid himself a salary of $600,000 in 1996 and $540,000 in 1997, according to personal financial disclosure statements that Senate candidates must file. At the same time, he collected at least $5 million each year in dividends from his corporation....(paying very little taxes on his dividends).
As one cpa accountant said, Edwards' business practice pushed the envelope. While Obama manged to only finish finally paying off his student loans recently by writing his autobigraphy, Edwards struggles with a personal net worth of 54 million...most of it coming from multimillion dollar laws suits. But I'm not writing this to debunk Edwards, I'm just suggesting one reason why his populist campaign has never really taken off.
The champion of the 'other america' has profited very handsomely from the system he loves to skewer. And judgng by his new clear-cut mansion, see photo there is no doubt which America Edwards lives in.
From the leading British conservative magazine, 'The Spectator' Edwards comes across as a wealthy trial lawyer recycling his jury appeals to make corporations pay. Obama, on the other hand, is transparently a decent, sincere and intelligent, if very liberal, candidate."
Edwards started with a Bobby Kennedy style campaign exploring Appalachia, but it is Obama that has captured the Kennedy-like mystique and charisma. Edwards was criticized for pouring a lot of money, front loading his campaign contributions into Iowa and New Hampshire, which has left him little in reserve, and he is now a poor third in South Carolina, 15 percent to Obama's 42 percent and Clinton's 30 percent.
It gets worse,... South Carolina was the only primary he won in 2004, until he dropped out after March's Super Tuesday, following a string of Kerry victories.This year he's even slipped in his home state, now polling last in North Carolina among the Democrats. His campaign is going nowhere, unless you count going downhill as somewhere. Obama's 30 point gain has probably take as much from Edwards as Hillary
"Polling shows that the second choice of Edwards' followers is overwhelmingly Obama".
It's time for Edwards to pack it in. I'm sure as a lawyer he would be advising a client like himself to take his losses and settle.
Super Tuesday, February 5, Democrat delegates will go proportionately to those candidates above the threshold of 15% of the votes gained, while Republican delegates, will go to the winner take all. But there are simply no states for Edwards to grow. The longer he stays, the easier he makes it for the status quo candidate Hillary to win the nomination and reduce the chances of the serious candidate of 'hope', Obama winning. Unless Edwards really wants to renew the 'experience' of returning Hillary or the GOP to the White House, it's time for him to go... and the sooner the better, for Obama's sake.
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