Gold.
The Hillary campaign is pointing to Rove and asking, What is Karl going to do with the Obama Link to the Weather Underground?  It puts them in the position of being able to sling the mud at Obama in the name of saving the party and having a chan…

You don’t know what the hell you’re talking about. The Bush Tax Cuts INCREASED Federal Income Tax Revenues by over 25%. Congress/Bush also happened to increase spending by even more.

How does that relate to the fantasy you said?

It’s why a pure Democracy fails the minute that people start voting for people who will give them whatever they want. You can’t give someone something for nothing without first taking it from someone else and giving them nothing for something.

Sounds like tax cuts that have no actual basis in the budget or federal revenue. You’re taking from the next generation to give a gift to the present.

Democratic Socialists preach the gospel of “fairness”, and some of the masses, out of greed, eat that up. But to the Democratic Socialists in power, it’s not about “fairness” at all

Last time I checked, Alan Greenspan and most other economists agreed that tax cuts had gone too far, and that balancing the budget was more important than extending every tax cut irresponsibly passed by Bush. Sure, lower taxes, that’s great, but do it through spending cuts, not by charging up the collective credit card known as the national debt.

When your ‘tax cuts’ are preserved in the status quo, it only undermines the country by placing everyone into further debt. The money that you ‘save’ by these tax cuts will have to be paid in the future with added interest. Anyway, the same dire predictions of a massive recession were made by Republicans in the first Clinton term. The same logic was applied in the early 90′s- pretend that the deficit doesn’t exist, assume that lower taxes are more important than the bond market. Some lessons are apparently hard to learn.

First we have Obama wanting to raise this tax, also we have Bill Clinton’s example of a retroactive tax hike (passed in June as I recall, applied to that January); so we’ve got precedent for Jan 2009 to be a cutoff.

I’d worry about you guys beating me to the punch, and watching stock prices drop; but enough institutional investors are in the market where I am that it won’t make too much difference (unless there’s a big pullout there too).

My concern is what if McCain is elected, and keeps the Cap Gains tax cut til 2010, but can’t extend it; or Obama doesn’t have the moxie/pull to make the tax hike retroactive.

Can you imagine a market where every investor has a financial interest in doing two things…
1) Take profits before the end of the year.
2) Wait til the stock price bottoms out before re-buying.

What’s the “low” when everyone is selling and nobody is buying? We may get to find out, because when the tax rate difference is 15% vs 35%+, and you’re looking at losing 20% of your profits to taxes if you don’t play… everyone plays.

And when everyone’s goal is the same (get out, and wait for the bottom) I’m not sure where the bottom ends up.

If this happens, it may not be safe to drive down Wall Street. Falling brokers can seriously damage your vehicle.

Although, if too many people think like I do toward the end of this year; we might get to see a “trial run” of this.

What will be the effect on the economy? I couldn’t begin to guess.

Why doesn’t he simply say he will tax every dollar above $250,000 at 90% and be done with it. It will be the fastest economic and political lesson he’ll ever learn.

Obambi’s logic doesn’t compute.

HFM vs OPP’s capital gains and/or death taxes. IOW, why are Warren Buffett, Soros and others so pro-death taxes? Follow the money.
1) Joe Six-pack gets slapped with a capital gains and/or estate tax when pappy passes. J6 has a deadline to pay. Result?
–Fire sale of pappy’s estate upon which WB, GS & pals swoop in gaining assets for as little as 10 cents on the dollar.
–Family wealth is siphoned off
–Govt get initial profit and again when #2 happens
2) Having made an “investment”, HFMs sit on asset until they can get the highest return on investment.
3) What does it matter to WB if he pays 15%, 25% or even 50 or 75% in capital gains? He still has earned more money than he could have if assets were originally sold at going market rates.

Bottomline, our current tax structure is a lose-win-win-win. -Joe Six-pack loses.
-HFM wins, on our backs naturally.
-Politicians win contributions and buys votes for control of the treasury to perpetuate the scam.
-Government wins revenue on an asset taxed multiple times to pay for pork.

When it comes to higher taxes, it is a briar patch, where the insiders continue to gain as us proles become equally poorer.

To wit, do the Clintons care that 1/3 of their income went to taxes? Heck no! The 2/3s they’re left with is far more than they would have had in real jobs, let alone stayed at the pinnacle of Arkansas politics. The income wasn’t so much earned as it was a payoff for being insiders. The difference between Jim Wright & Bill Clinton is that JW self-published and Slick got a free-market publisher to do it for him.

Stifling regulations, OTOH, force corporations to move overseas, thus sheltering ever more $$ from the US Treasury and simultaneously cutting jobs.

But it’s not about “fairness”. It’s about power and control.

Hmm…power and control…remind you of any movie?

The Matrix, perhaps?

SoldiersMom on April 18, 2008 at 10:23 AM

I agree with you 100%, and please allow me to add to that.

Democratic Socialists preach the gospel of “fairness”, and some of the masses, out of greed, eat that up. But to the Democratic Socialists in power, it’s not about “fairness” at all. It’s about power and control. In a Socialist/Communist state, the masses become equally poor. The party heads, however, are wealthy. The party heads control the wealth. The party heads control the power. The party heads control the people. No one can rise out of the masses without submission to, and the approval of, the party heads. The party heads say, “Vote for me, and I’ll give you this…”, referring to some mere table scraps tossed to the masses to buy their vote. It’s why a pure Democracy fails the minute that people start voting for people who will give them whatever they want. You can’t give someone something for nothing without first taking it from someone else and giving them nothing for something.

When the scales tip to the side where more people are getting something for nothing and less people are nothing for something, it all starts going downhill…when the producers get to the point where they are so heavily taxed that it is no longer worth their effort to take risks and work hard, they give up…they shut down the company, everyone loses their jobs, and that is the beginning of the end of the country.

Our Constitution was written by men who were inspired by God. It intentionally limits the power of our government officials. It is the exact opposite of a Socialist/Communist state. Any common person can rise from nothing to something great, without submission to, and the approval of, the party heads. The USA has always been the land of opportunity, and people from all over the world want to live here. We enjoy freedoms that no one else on earth enjoys. We must defend our Constitution from all enemies, foreign or domestic.

There was even a time when the Christian Coalition determined that its number one legislative priority was tax cuts for the rich. I don’t know what Bible they’re reading, but it doesn’t jibe with my version.

OK, Obama, show me a Bible passage that says we’re supposed to tax the rich at a higher rate than the poor. You can’t. This is just more of your Godless Socialism/Communism. The Fair Tax is needed to bring fairness back to our taxation system, and it will bring growth to our economy when we aren’t spending countless hours preparing IRS tax returns.

The above quote, by the way, comes from the same speech where Obama openly shared his dream of his UCC church inspiring another revolution in this country. He wants to inspire a Communist revolution in the USA. Everything you’ve heard from Rev. Wright’s mouth is what’s in Obama’s head.

I told her that when my Dad retired, he took all his retirement savings and opened his own business. It was a huge risk, that fortunately, paid off. It could easily have gone the other way. I told her I don’t begrudge anyone their wealth. They risk much to get where they are. I also said they if she’s looking for “fairness,” she should move to Cuba.

His comments are nothing more than clueless economic jibberish.

Oh wait…I’m sittin’ on my dead ass during the election, ’cause I want economic chaos, and McCain is a poopy-head…nevermind