Al Sharption… Shut the fuck up already: I am not familiar with this case at all and from what I can get from the articles I have read the media isn’t too interested in the deaths so much as the fact it was racial and Al is threatening to c…

Besides being an openly anti-Republican city I often just overlooked the idiots and took advantage of the great things the city offered. Well, no more! Strogers new 11% County sales tax was the last straw.

I’m well above the “rich people” threshold that Obama refers to and instead of Cook Co. getting 9% of every penny I spend, they’re not going to get any. How’s this for an Economics lesson:

$250K x 9% = $22,500
ZERO x 11% = ZERO

good post

I’m the founder of a technology startup and am in the process of trying to get venture funding. I want to employ about 100 people or so with good paying jobs, good benefits and a future. That is important to me. However, the sources of money for startup companies is hyper-sensitive to capital gains rates. Rates go up, available capital goes down and with that innovation and jobs. For the life of me I don’t see why Obama or any of the other candidates don’t look America in the eye and tell us that if we want to encourage innovation and job creation we need people and companies with money to put that money to work funding startup and expanding businesses.

I emphasized part of the quote because IMO none of the politicians are willing to really endorse the idea of people building businesses.

One step further…Barry O’s illiteracy about real economics reflects his literacy of Marxist economic theory and inability, by omission or comission, to see its faults/failures.

Marxist and “liberal” thought on taxes are as coercive and punitive devices to force certain behaviors. The less economic growth, the more people on the dole, the more businesses depend on favors from the poltical class…the role of the state is enhanced.

People start making a lot of money, they buy cars and consume more, have aspirations to live in places other than high-density housing that government planners think they should. Soem figure out they can afford to have kids. Businesses form a more vital power bloc of power that can challenge the politicos.

Economic freedom breeds a lack of control over people to a statist, and then the elite running the state, directly or indirectly, are not able to supervise so well. People can pay for and decide to select their own doctors. It is really very messy from an eltist’s perspective and if the elitist is going to save the world and get the trains running on time…he tries to push things back into his comfort zone. The hubris hobbles those outside the elite so the elite are happier. How can we deny a superior being a happy day?

Marxist economics and politics, Barry’s ferevent belief and extensive education in them, fumbles completely to explain that the Bush tax cuts have significantly shifted income tax burden to higher income taxpayers and increased revenues, because that goal in Marxist terms can only be achieved by punitive taxation and/or a combination of nationalization of businesses by the state.

The Russian/Zimbabwean notion of equality…of misery. But Barry O, he will be doing fine, like Mugabe, who isn’t missing meals while much of his country starves. Whatever happens to us he, Michelle and the kids will get whatever they want. “Do as I say, not as I do”. A little subtler than Mike Bloomberg and your human right to self-defense, but no different in the end. John Edwards’ “two Americas”, but not quite as Edwards described it.

I think Obama (and Hillary) get a pass on this stuff because the MSM doesn’t understand the issues or how to read economic data, they support statism and due to their utter bigotry against business people…every CEO is a Ken Lay, they just haven’t been caught at it yet. That for every crook CEO there are maybe 2 politicians just has to be overlooked if the belief system is to remain intact.

This is also the legacy of “educators” like Ayres. Why do you think so many of that ilk went into education? It is a safe place to promote their ideas, not face consequences of starting a business and failing due to incompetence and bad thinking, etc. These people stopped learning real lessons long ago, and education is the only place they can survive and even win awards.

So Barry is a Senator, not a technology company CEO; poltics being the other place you can not learn and survive…

1. Whatever happened to the $200,000 floor for tax increases the Dems were talking about not six months ago? (“We won’t raise taxes on anyone making less than $200,000 — this is just a tax the rich thing!”) Now, the floor for tax increases apparently has dropped to $75,000.

2. Obama proposed eliminating the ceiling on payroll tax (i.e. social security tax) contributions. Now, those taxes cut off at a certain income ($102k for this year) because social security is a retirement system, not a tax. But Obama has proposed ELIMINATING that ceiling, which effectively serves as a 13% marginal tax increase above $102,000. (Employers pay 50%).

I’m surprised those two pieces of Obama’s tax policy haven’t gotten much attention…

I keep saying this because it is true. Obama thinks all of America is as stupid as they are in Chicago.

He’s finding out the hard way that not everyone is.

drjohn on April 27, 2008 at 7:07 PM

That’s an interesting observation.

When I did corporate taxes, all I know is that of all the cities in this country that I had to deal with, Chicago was the absolute worst, with all sorts of hidden corporate (‘speed trap’) taxes. When it came to dealing with the taxing bureaucracy, one clearly got a sense of taxes levied to make money from businesses ‘because they could’ as well as providing made-up government jobs, with no true oversight or supervision, to satisfy some political base or IOU (that probably got the taxes put in place in the first place). From my recollection, Chicago is very much a tax the businesses into oblivion in order to give to the politicans (to dole out accordingly) kind of city. That is, a government job is something to which one aspires, one desires; it’s safe and requires little effort to keep. And this is the milieu from which Obama comes on his white horse, ‘Progressive’, to save us hicks and rubes from our bitter selves.

In the end it seems that he doesn’t quite have the acumen necessary for this whole Presidency thing. That’s OK, he can change his major. Maybe Women’s Studies or Multiculturalism. I hear those are very fun and don’t require much complex analysis.

PattyJ on April 27, 2008 at 11:34 PM

Oh yes the beauty of math equations. you get out what you put in. All math can tell whatever story you want. want USa to be big spenders low savers. there’s an equation. Want them to be rapers of entire worlds there’s an equation for that. It’s too bad the MSM doesn’t know how to do math just headlines.

You hear on the news every so often that the U.S. has one of the lowest numbers of people who save money.

True, if you don’t count retirement savings.

Critics of the calculated savings rate, obtained by subtracting consumption from disposable income, point out that growth in value of owned assets, including retirement accounts and housing, is ignored in this statistic, as are employer contributions to retirement savings.

It was the best of times it was the worse of times.
It was the age of wisdom,
it was the age of foolishness,
it was the epoch of belief,
it was the epoch of incredulity,
it was the season of Light,
it was the season of Darkness,
it was the spring of hope,
it was the winter of despair…
We had everything before us,
we had nothing before us,
we were all going direct to Heaven,
we were all going direct the other way

Tale of two cities/ dickens…sums it up better IMO

Why yes it does. Why? because BHO is a citizen of the world. Considering that a person making 20,000 is in the top 20% of the world’s wealthy the entire USA is just one big collection of filthy rich people that must pay their fair share of the global tax bill. why should Haiti or North Korea or Subshara Africa have to pay for their roads and dams and security. We can’t expect the poor to pay for basic services that would be immoral.

/scarm

If BHO wins in Nov or even appears to be able to win I would suggest selling all stock, be it in a 401k or private account. the market will sell off.

Another point not mentioned in the CGT rate is will the special div tax rate remain in force. this tax rate has seen more and more companies start to offer divs and larger div to their shareholders thereby increasing the wealth to the masses.

But that’s not something that’s going to affect the average person with a 401(k).

Oh, yes, it is–and it has. The boomers are just entering the phase where they can cash in a portion of their retirement funds, and they are noticing that they are getting killed by the capital gains tax. No one minds so much the income tax; it’s the penalty for savings and investment that so rankles.

Note to Obama: it’s the older people, the investors with a stake in the nation’s prospertiy, who vote, not the MTV crowd.

PattyJ on April 27, 2008 at 9:32 PM

You hear on the news every so often that the U.S. has one of the lowest numbers of people who save money. With the capital gains tax, tax on interest earned on bank accounts, and the tax on dividends. It shouldn’t be a shock that American’s aren’t saving money.

I don’t want to think about withdrawing money from my 401-K in 30 years. If we have another Jimmah Carter or B.J. Clinton then, it will make retirement very expensive.

But that’s not something that’s going to affect the average person with a 401(k).

Oh, yes, it is–and it has. The boomers are just entering the phase where they can cash in a portion of their retirement funds, and they are noticing that they are getting killed by the capital gains tax. No one minds so much the income tax; it’s the penalty for savings and investment that so rankles.

Note to Obama: it’s the older people, the investors with a stake in the nation’s prospertiy, who vote, not the MTV crowd.

Obama thinks all of America is as stupid as they are in Chicago. He’s finding out the hard way that not everyone is.

drjohn on April 27, 2008 at 7:07 PM

I don’t think they are all stupid in Chicago. A lot of them are stupid, but more of them are racist and corrupt.

lets dis McCain some more