Obama's socialist tax policy

exactly how increasing tax on the very rich will cause stagflation?

Maybe "capitalists" need a breather from overlevering the banking system (all the while collecting their millions in fees that, oh by the way, they don't have to give back when all the crap they created goes to zero) in this country so badly that it is bringing down the entire economy (Oh wait - there's the STAG!!)

Or maybe these "capitalists" could use a break from getting on their knees and lowering interest rates every time Wall Street loses a little money, thus weakening the
dollar, or lining their pockets with oil money while ignoring any attempts to become energy-independent, or allowing huge conglomorates to take over all the food production (and subsidies!) (Hold on -- do i see FLATION??)

Anyway, I'm just being silly. None of those things really matter. Everything is fine now and Obama will really mess up all this good stuff we've got going right now under the current regime. But just out of curiosity, I'd like to hear your explanation..

HH,

You make valid points but at the end of the day this is America and as a proponent of free-market capitalism I do not believe in excessive taxation and redistribution of wealth. Why should I be penalized by the government for working hard my entire life and building wealth? Do you really want to deal with a 25+% capital gains tax if Obama takes office?

There are a variety of confounding factors affecting the economy (Iraq, sub-prime, inflation, etc.)and just like a typical socialist democrat you simply outline the problems and fail to offer a solution.

Regulation. Deregulation (repealing of Glass-Steagall Act, non-existant reserve requirements) has completely incentivized excessive risk taking. Greed needs to be checked, we are seeing the results of its absence now.

Anyway, I don't want to get into a political debate. The only point I wanted to make was that the tax rate on the rich has nothing to do with stagflation. We ALREADY have stagflation and there's been nothing but tax cuts and more tax cuts leading up to now.

Obama will fix the economy
Most senior workers in BBs are denoting their money to Barack Obama because they know that the economy will be in a very solid shape once he becomes the president.

Romney should have been the republican nominee: CEO of Bain and Co, co-founder of Bain Cap, CEO of 2002 Winter Olympics, Governor of Massachusetts.

Obama and McCain are career politicians.

I am just surprised by some of you say that Romney can't be a president. So what if was CEO OF Bain? This is America, a super power the should protect the world from upcoming challenges such as Global Warming and the current energy crisis ( do you even know how much do these tow epidemics cost? . Romney wasn't visionary enough when he spent more than forty million dollars but he got a zero profit, he thought that he can win by putting more money, he doesn't have a profound leadership. Unlike, Obama who had run a successful campaign

No, care to enlighten us?

And how is Yung B'rack capable of handling these "epidemics"? The motherfucker was a state senator and has been in the U.S. Sebate for a few years.

You're implying one is qualified to run a country based on being able to run a successful campaign. Given that a lot of people are idiots in the U.S. and primaries/elections are modified "majority rule" you can draw your own conclusion.

My point is that Romney has actually accomplished something other than being a politician. Obama is successful in large part because of help from the media, he was the most hyped candidate. The most qualified, no.

You sound like one of those douches swooning over ambiguous promises of change... plus you mentioned global warming, you goddam pussy.

Honestly, the fact that you described America as "a super power that should protect the world" makes your opinion negligible. Its possibly the most arrogant and irresponsible expression of our foreign policy problems. We started the Iraq War (and entered into many preceding wars) because of our policy of "protecting the world."

Though I'd really like to know exactly Obama's plan to get the economy into ship shape as well as solve all our other problems. Really, I would.

a ton of hedgies and banks are donating money because thats the legal way to bribe a politician. a lot of the same donors are donating to mccain as well.

and as far as the economy being in solid shape, i call bullshit on the notion that a president's policies determine the state of the u.s.' economy. sure, they may nudge it in various directions during the course of a president's tenure but a president cannot turn the business cycle into an upsloping straight line, capitalism don't work that there way.

this is how the average american moron thinks: "oh i didnt (did) like the president because the economy was bad(good) during his tenure." real complicated thought process goin' on right there

Not Obama '08

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"its the running joke now, we now have fair trade with china so they send us poisoned sea food and we send them fraudulent securities."

I seriously thought this was sarcasm at first.

"With a top tax rate of around 60%"

Its a fact Obama wants to raise taxes. Could you please provide a source for this thanks!

You cannot even begin to comprehend the social and economic implications of the policies of the two frontrunners. Instead, you just bitch about the proposals that will affect you personally. It's absolutely fine to be self-interested but don't pretend to know whether they are good or bad for the country as a whole.

The current situation has arisen out of the policies of the last 30 years, exacerbated by the actions of the current administration. Just because you're alright Jack doesn't mean everyone else is.

Obama is your best hope for turning the US around, and even he isn't going to be able to do it overnight.

Criticise my position all you want but read this first and then decide whether I know what I'm talking about.
http://www.wallstreetoasis.com/forums/finance-minister-says-us-is-in-dee...

this is the article, which spells out how socialist and destructive obama's tax policy is. i sincerely hope that my fellow Americans not get spellbound by obama's fancy rhetoric and see him for what he is: an inexperienced naive socialist who will weaken America just like Jimmy Carter did.

http://online.wsj.com/article/SB121435112024101581.html?mod=opinion_main...

but the article does nothing to explain why his tax policy is as destructive as you would like us to believe. All your posting it has done is highlight how scared you are by how much this will affect you personally.

The US is already broken and needs fixing - and this is one way of doing it. I would be surprised if I am not financially affected by this more than you are but I would rather be a moderately wealthy person in a contended country than a very wealthy person in a trainwreck of a country.

This just shows what kind of person you are, we are having a healthy discussion/debate and you started insulting me, that was offensive.

I just heard that there is a republican CEO who was very impressed seeing the leadership and campaign that Obama had, and he is asking his co workers to take it as an example to succeed

Where is YOUR ROMENY from all of that that? Even his fellow republicans didn't think he will be a good a presidents by not casting their votes for him

Of course the president's polices can affect the economy in one way or another. There seems to be a lot of speculations in the Oil Market and that was not regulated at all. A lot of economists are blaming the speculators who are driving Oil prices high.

The current administration never thought of doing that, and that really is affecting our economy.

The same goes for the housing markets in which it is in a current deep depression and that has to do with the government because they didn't regulate

had there been any regulation over the mortgage market, we would not have witnessed this crisis that resulted millions of people losing their dream homes

i dont mean to be too big of an a-hole but you obviously don't have a grasp on how politics and capitalism in the u.s. coexist.

the president doesnt regulate didly. he sets policies which have to be approved by 2 houses of congress. the u.s. is not a dictatorship. a lot of economists are blaming speculators for oil and a lot of people (including the CFTC) are calling a huge bullcrap on that.

your boy obama is pandering to joe shmo out on roadkill drive and explaining to him why he cant afford to drive his 4-wheeler to the local tractor-pull. this just shows how much of a bullcrap artist obama is.

and the housing market? do you actually know what you're talking about or are you just pulling stuff out of your a$$? this mess we're in is the result of lax rating agency standards, little to no checks on the mortgage originators, a housing bubble that has been going on for MANY years, chinese outsourcing of our inflation, the list goes on.

so sorry to be an a-hole, but you should probably stop talking, because you have no clue

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"its the running joke now, we now have fair trade with china so they send us poisoned sea food and we send them fraudulent securities."

Thanks for your response, you totally missed my point there. The president does not have the power to control the economy, but his policies may affect the economy in one way or another. There were other factors that the affected the housing market but regulations is one the profound factors, treasury secretary Paulson, the former CEO of Goldman Sachs, said that they will be rigorous regulation over the housing market.

Although I am very scared of Obama's future tax policies, I think what you are saying rings true. I would rather take a pay cut now for more opportunity in a better country later on.

I'm a staunch Economic conservative, but Obama is way better than McCain. I'm tired of Repub's, they're not the old business friendly GOP, they just suck.

I agree completely...Republicans USED to be baller for business...lowering taxes, small gov't etc...Now Republicans have become so far removed from what they used to stand for that I doubt someone from the 70s or even the 80s would even recognize their own party...

Obama's economic policy is ridiculous! He's just trying to be a Robin Hood. He takes money from the rich and hands it to the poor with various social programs. WE worked our asses off in high school, to get into the nation's best universities and colleges. WE worked our asses of to get that big job, or to start a company. Why should we give money to the middle and lower classes, just because we are more successful. The middle and lower classes are there for a good reason. THIS IS AMERICA!! Why should we be punished for our success? Why should we be punished for all our hard work, over so many years. Think about it: our tax dollars go toward some filthy, illiterate, jobless, high-school drop-out through some social program or welfare, who will undoubtedly spend that cheque on some drug or alcohol. God gave us the gifts to reduce risk in any given situation, he gave us impeccable math skills, and OTHER gifts and talents that the general population just don't have, talents and skills which allow us to achieve what we achieve (you never see a job-less, uneducated, unqualified, illiterate guy create a hedge fund, except for Tim Sykes). This is not Capitalism. I'm not voting for McCain either, he looks about old enough to be my grandfather, except for the constant nags about "the ole days". Tim Sykes: Don't sue me, my father's a lawyer, besides I'm just joking. Alos, this post was not meant to be elitist in any way, so to any of you middle or lower class folk, SORRY!

First of all, you are not punished for your success. the do you think you are , are you in the first class? I doubt that.... Warren Buffen is above anyone when it comes to wealth. The American economy, which you are craving for, depends tremendously on the middle class,so if the middle class is suffering the financial markets will be very weak.

Warren Buffet is the most successful person when it comes to money and wealth and he is backing Obama because he knows what is best for our country, he will pay more taxes than and he is not whining like a baby, because he wants to help our country by creating social programs
and who said the best universities is only for the wealth, I am attending one the best universities and I am not rich.

Obama is a very good example, these social program helped our country to produce very good leaders, Obama is one of them and he is very close to be a President.

A lot of wealthy folks are backing up these social program because they are very necessary and they will help betterize our country.

Our country is going down hill now because of stupid economic polices

A very good example is bill Clinton when he took office America experience its peak growth in economy, 22 million jobs were created, people were so happy and taxes were higher

Now, with 8 years of Bush's administration, a lot of jobs were lost, we experienced tow recessions, housing market is in sever depression, and the dollar is weak and that's all with low taxes

Now you tell me it's very simple and we have 2 good historic examples.

I know a lot of MDs AND EDs who in top ivy league universities and they were laid off after all of their hard work , even they are rich they don't like our economy poultices because it also hurt the rich people.

well then.. stop telling about the problems. tell me about the solutions. what will obama do for our country?

Tell Obama to come back in ten years. I'll embrace him as the messiah!

"Warren Buffet is the most successful person when it comes to money and wealth and he is backing Obama because he knows what is best for our country, he will pay more taxes than and he is not whining like a baby, because he wants to help our country by creating social programs
and who said the best universities is only for the wealth, I am attending one the best universities and I am not rich."
Buffet also has a bazillion dollars and is at the end of his life, unlike many higher income guys in their late 20's or early 30's who have much to do and see and they clearly are better than the jackasses who live on welfare.

"A lot of wealthy folks are backing up these social program because they are very necessary and they will help betterize our country."
Betterize is not a word.

"A very good example is bill Clinton when he took office America experience its peak growth in economy, 22 million jobs were created, people were so happy and taxes were higher"
Clinton Administration did not have any major issues to take care of in his time.

"Now, with 8 years of Bush's administration, a lot of jobs were lost, we experienced tow recessions, housing market is in sever depression, and the dollar is weak and that's all with low taxes"
I agree that Bush is quite dumb, but if his run was not marred by WTC, War( debatable coz he brought that about in the first place) and the downturn we have now, you same people would have rated him as a 'Good' President.

The thing that Obama (if he comes in power) should worry about is making education cheaper and widely available instead of just raising taxes to create a dumb socialist policy like f'in europe.

A lot of people stood behind Bush in 2001, and he a gave a strong speech about national security( his approval ratings were higher than 70%), but he disappointed everyone, even his top advisers and now his ratings are even lower than Nixon's. Bush didn't do anything in hurricane Katrina, and he didn't help the people simply because they were Black,it was a disgrace that several lives could have saved quickly and Bush was very slow and thousands of victims paid the price because of the stupidity and his lack of leadership.

And to answer the question what Obama can do to help the economy, well he is going to invest $150 billion dollars in alternative energy, this will help our economy by creating many green jobs.

Here's how the average tax bill could change in 2009 if either John McCain's or Barack Obama's tax proposals were fully in place.
MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567

http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc...

Should be obvious where my vote is going.

"Oh - the ladies ever tell you that you look like a fucking optical illusion?"