Why It’s Worse Than You Think

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  • Posted By: wckdwanda @ 06/13/2008 11:02:34 AM

    Corporate GREED....CEO bonuses...Tax cuts for the rich...I hope Bush & his buddies are happy cuz they sure have done a good job. He's been so acurate in his decision making for our economy much like his Weapons of Mass destruction. Well he can comfortably & securely leave office knowing that one statement he has made is absolutely true....Mission Accomplished...America is Screwed!

    • Posted By: willnotvoteobama @ 06/13/2008 2:53:37 PM

      How destructive to the U.S. economy would a Barack Obama presidency be?

      An analysis warns: There could be a very rough time ahead.

      Beneath Obama's flowery rhetoric lies a dangerous economic plan that will wreak havoc on the American economy.

      Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.

      Worse, Obama says he is absolutely committed to almost doubling the capital gains rate ??? something he will easily accomplish with a Democrat Congress.

      In the coming months ??? when investors realize that Obama will raise the cap gains rate ??? there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama's doubling of the tax rates next year.

      All of these issues and more are explored in Newsmax magazine's special report "Obamanomics ??? the Coming Tax-and-Spend Nightmare," by Wall Street Journal columnist John Fund.

      gives Americans the first in-depth look at the Democratic presidential candidate's likely strategies ??? and how they will affect not just the larger economy, but your personal wealth as well.

      Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.

      He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.

      And the loan dividend tax rate George Bush implemented? Under President Obama it will be DOA!

  • Posted By: meganodell @ 06/13/2008 10:01:01 AM

    They know it, if we as Americans can't see it than I fear for our future. This 'Dark Money' that is not transparent and is unregulated is ruling our markets and wiping everyone from myself at the gas pump to the Airline Companies out.

    According to Kohut, Barack Obama deserves at least some credit for the show of goodwill (towards the US by the rest of the world). In Japan, he's ahead by 37 percent, and his advantages in France and Spain are even larger: 51 and 73 percent, respectively. In fact, John McCain defeats his Democratic rival in only one country: Jordan. By one point. That said, the resounding foreign support for Obama's bid--in France, 84 percent of those who've been following the U.S. election say they have confidence that Obama would "do the right thing regarding world affairs," compared to 33 percent for McCain--has less to do with his policy proposals than the fact that he's not a Republican. Even in this YouTube age, foreign citizens don't have a lot of information about where U.S. candidates stand on the issues, and many can't even understand English. So while their views may be just as absolute as ours, they're often based on little more than a simple "Bush is a Republican, I don't like Bush, so I don't like McCain" equation.

  • Posted By: willnotvoteobama @ 06/10/2008 3:11:37 PM

    How destructive to the U.S. economy would a Barack Obama presidency be?

    An exclusive Newsmax analysis warns: There could be a very rough time ahead.

    Beneath Obama's flowery rhetoric lies a dangerous economic plan that will wreak havoc on the American economy.

    Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.

    Worse, Obama says he is absolutely committed to almost doubling the capital gains rate ??? something he will easily accomplish with a Democrat Congress.

    In the coming months ??? when investors realize that Obama will raise the cap gains rate ??? there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama's doubling of the tax rates next year.

    All of these issues and more are explored in Newsmax magazine's special report "Obamanomics ??? the Coming Tax-and-Spend Nightmare," by Wall Street Journal columnist John Fund.

    This Newsmax magazine special report gives Americans the first in-depth look at the Democratic presidential candidate's likely strategies ??? and how they will affect not just the larger economy, but your personal wealth as well.

    Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.

    He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.

    And the loan dividend tax rate George Bush implemented? Under President Obama it will be DOA!

    • Posted By: ted_hu @ 06/10/2008 6:31:21 PM

      America doesn't have a tax problem. My wife and I makes more than 220k a year. TurboTax told me our tax rate was 11.7, after all our write-offs. This year, after selling some stocks, it was 17%. The truth is, I and people who are more well-off pay too little, far less than the official 25% rate. Folks who earn a day's wage pay way more.

      Investors have gotten a free reign and with it have only created a bubble. Obama is just rebalancing the economic rules so that everyone pays their fair share. Like Warren Buffet, I'm aghast that I pay a lower tax rate than a secretary because the current tax system favors capital owners, not wage-earners who spend and drive 2/3 of US consumer demand.

      With Obama, the top 5% pay more, the bottom 95% pay less. Republicans decades' long simpleton trickle-down dogma and one-trick pony of tax cuts for all economic problems big and small is worn out and impotent policy - it doesn't work. We have nothing to show for the Bush tax cuts - which the rich get the most from and rather than spend it just reinvest in mutual and hedge funds overseas for higher returns - other than a free-falling dollar, 10-year trillion dollar debt load, and rising unemployment and hallowing terms of trade..

      • Posted By: angelus1967 @ 06/11/2008 3:19:11 PM

        ted_hu - Thank you for speaking with some common sense. My wife and I are over 100k a year and i know several families that are under 50k and pay far more in taxes than we do. No one likes taxes but we all need to pay our share.

        • Posted By: willnotvoteobama @ 06/13/2008 9:32:32 AM

          WAIT TILL YOU SELL YOUR HOUSE OR GET SOME PROFIT FROM A 401K THEN YOU WILL SEE THE TAX THAT OBAMA WILL REAP !!!

      • Posted By: willnotvoteobama @ 06/13/2008 9:29:13 AM

        WAIT TILL YOU SELL YOUR HOUSE OR GET SOME PROFIT FROM A 401K THEN YOU WILL SEE THE TAX THAT OBAMA WILL REAP !!!

  • Posted By: jloclo @ 06/13/2008 1:16:07 AM

    I beleave that the lobbyist and congress and all the other deep pocketed politicians in this country have failed our country and only care about all mighty dollar that goes into their own pockets. Kick backs, hush money,bribes etc. You might as well say the Mafia still exsist. The middle class that works all day for their family and struggles day to day to make ends meat has long been beaten down now to the poor class.
    Enough is enough. Wake up people! Arent you tired of getting screwed by Bush and all his lies. Our country needs a new reform.Its hard to trust anybody in office today. They just tell you what you want to hear and make promises they never keep. There is a very small procentage of truley good congress men/ women that are still in office. I hope that we get a president that truley can make a difference.and can shake things up.

  • Posted By: jloclo @ 06/13/2008 12:28:18 AM

    I beleave that the lobbyist and congress and all the other deep pocketed politicians in this country have failed our country and only care about all mighty dollar that goes into their own pockets. Kick backs, hush money,bribes etc. You might as well say the Mafia still exsist. The middle class that works all day for their family and struggles day to day to make ends meat has long been beaten down now to the poor class.
    Enough is enough. Wake up people! Arent you tired of getting screwed by Bush and all his lies. Our country needs a new reform.Its hard to trust anybody in office today. They just tell you what you want to hear and make promises they never keep. There is a very small procentage of truley good congress men/ women that are still in office. I hope that we get a president that truley can make a difference.and can shake things up.

  • Posted By: jloclo @ 06/13/2008 12:25:34 AM

    I beleave that the lobbyist and congress and all the other deep pocketed politicians in this country have failed our country and only care about all mighty dollar that goes into their own pockets. Kick backs, hush money,bribes etc. You might as well say the Mafia still exsist. The middle class that works all day for their family and struggles day to day to make ends meat has long been beaten down now to the poor class.
    Enough is enough. Wake up people! Arent you tired of getting screwed by Bush and all his lies. Our country needs a new reform.Its hard to trust anybody in office today. They just tell you what you want to hear and make promises they never keep. There is a very small procentage of truley good congress men/ women that are still in office. I hope that we get a president that truley can make a difference.and can shake things up.

  • Posted By: sp364c @ 06/12/2008 10:46:23 PM

    Why do we even take the time to type on the subject of our once great country? Take a small look at what is going on, It is not Bush that is responsible for our problems. One of the problems is everyone that has investments and they expect big returns that has lead to a very false economy. The work ethichs of USA is down the tubes. Most employees hold their hand out for the weeks pay before even punching the time clock.. Another place one might look at is our so called elected men/women in offices that are in there for a FREE ride while everyone working is doing just that!!! Maybe it is time to have a CHANGE in the offices. OH did I use the new BUZZ word ??? CHANGE Rememeber the next time you vote and whom you are replacing. I could go on but it is a WASTE OF TIME because I am very sure. THE ALL MIGHTY MEDIA WILL SAY SOMETHING TO STRAIGHTEN OUT THIS MESS THEY HAVE PERDICTED. OR SHOULD i SAY THEY STARTED??t

  • Posted By: sp364c @ 06/12/2008 10:44:35 PM

    Why do we even take the time to type on the subject of our once great country? Take a small look at what is going on, It is not Bush that is responsible for our problems. One of the problems is everyone that has investments and they expect big returns that has lead to a very false economy. The work ethichs of USA is down the tubes. Most employees hold their hand out for the weeks pay before even punching the time clock.. Another place one might look at is our so called elected men/women in offices that are in there for a FREE ride while everyone working is doing just that!!! Maybe it is time to have a CHANGE in the offices. OH did I use the new BUZZ word ??? CHANGE Rememeber the next time you vote and whom you are replacing. I could go on but it is a WASTE OF TIME because I am very sure. THE ALL MIGHTY MEDIA WILL SAY SOMETHING TO STRAIGHTEN OUT THIS MESS THEY HAVE PERDICTED. OR SHOULD i SAY THEY STARTED??t

  • Posted By: veenapre @ 06/12/2008 8:32:32 PM

    how can a pain go away if the people put there heads in the sand? the only way is to stop buying from them . we have a well reserve off our east coast,and the alaska pipe line , get real we are not all stupid....the rich get richer{BUSH AND HIS funkes] THE ONLY WAY IS FOR A ALL STATE STRIKE THESE WOULD GIVE THE REALITY TOO THE BIG BOYS IN WASH.....when it cost you a three day work just to get there.. the MONEY THAT WAS GIVEN TOO THE PEOPLE WHOM WERE TO HELP THERE COST. IS A FARSTS IT WAS JUST A WAY TO GET INTO YOUR MONEYS something for nothing is never for nothing.. ask all the veterans about this great goverment that turned its back on the viet nam vets and all the reserves,,

  • Posted By: tog_67 @ 06/11/2008 11:45:14 PM

    Yea the banking industry started the mess with their banking insanity. Lend to those with a lot of credit (i.e. Debt) and not to people who don't use credit (opt. to pay as you go). Then all the loans fall through and do these IDIOTS change their ignorant practices "NO" . They continue on business as usual as though the TRAIN WRECH behind them never happened. I would think if there is a large difference in the debt (credit) to income ratio that that would be a RED FLAG, but there I go again trying to apply common sense to the IDIOTS that call themselves BANKERS!!!

  • Posted By: tog_67 @ 06/11/2008 11:27:56 PM

    Yea the banks created the housing mess by lending to people with handfulls of credit cards (DEBT) and then continue the same old insane policy. But if you have no credit cards (i.e. debt) they say your credit score is low so we can't lend to you. What a pack of IDIOTS! I would think it would work in the reverse, but maybe that requires common sense.

  • Posted By: phiomalibumalibu @ 06/11/2008 10:18:30 PM

    The major movie studio I work for as of this year is 95% Hindi/Indian onshore H1-B's My friend and myself were shocked when we went to the Christmas buffet and saw that only a few Americans remained on the IT Staff. It was a sad realization.....I think america still brings in about 100,000 Hindi/Indians a year, because people like Bill Gates seem to love them, plus they buy his products and software...weee, let's make the rich richer!!!

  • Posted By: shanlone @ 06/11/2008 9:57:27 PM

    Civilization as we know it is coming to an end soon. This is not the wacky proclamation of a doomsday cult, apocalypse bible prophecy sect, or conspiracy theory society. Rather, it is the scientific conclusion of the best paid, most widely-respected geologists, physicists, bankers, and investors in the world. These are rational, professional, conservative individuals who are absolutely terrified by a phenomenon known as global "Peak Oil."So am I and happy that I live in SE Asia and not in America now.An oil based economy such as America doesn't need to deplete its entire reserve of oil before it begins to collapse. A shortfall between demand and supply as little as 10 to 15 percent is enough to wholly shatter an oil-dependent economy and reduce its citizenry to absolute poverty.The writing was on the wall,but many were just too blind to accept it. G.W. Bush has a a hisotry of turning everuthing he touches to crap from profit making businesses and now as it seems to an entire nation-America. Glad I now live in Vietnam. I can at least survive here on $500 a month.

  • Posted By: slevyallen @ 06/11/2008 5:44:22 PM

    Here's what I don't understand, & it doesn't take a mathematical genius to figure out why Bush's "fix-its" are not working. How can we be expected to make ends meet when the cost of living (gas, food, etc) is increasing at double-digit rates, while the average salary increase of the average US worker is approximately 5% per year, if that??

  • Posted By: mikeerman @ 06/11/2008 3:56:08 PM


    I enjoyed most of the article until I read the supplement by Bill George, page 29. He seems to support only the needs of the largest global companies. What of those workers losing their jobs in the plants? With which funds are they to acquire the ???higher knowledge??? positions. None, I???m sure. I assume he is referring more to our children than the current workforce. Should we just let the middle class slip into oblivion so the country can support a few global companies as their tax base instead of the middle class? Also, didn???t some of these major companies noted here lose big in recent months/years? Finally, does Dick Chaney consult with Bill George? I think I heard our Vice President actually say something similar to this supplement to ???plant workers???. Wow! And we wonder how socialism and communism came to be in the first place.

  • Posted By: mikeerman @ 06/11/2008 3:53:58 PM

    I enjoyed most of the article until I read the supplement by Bill George, page 29. He seems to support only the needs of the largest global companies. What of those workers losing their jobs in the plants? With which funds are they to acquire the ???higher knowledge??? positions. None, I'm sure. I assume they are refering to our children, not the current work force. Should we just let the middle class slip into oblivion so the country can support a few global companies as their tax base instead of the middle class? Also, didn???t some of these major companies noted here lose big in recent months/years? Finally, does Dick Chaney consult with Bill George? I think I heard our Vice President actually say something similar to this supplement to ???plant workers???. Wow! And we wonder how socialism and communism came to be in the first place.

  • Posted By: JG Georgia @ 06/11/2008 3:41:09 PM

    What is wrong with angelus1967? People until $50,000 can't afford to pay "their fair share" when Halliburton, Blackwater, Big oil and all the rest are not paying anything but are sucking up government hand outs and tax breaks.

  • Posted By: willnotvoteobama @ 06/11/2008 1:30:23 PM

    JUST SO YOU KNOW I'M SICK OF ALL THE THIS IS HISTORIC TIME FIRST BLACK PRESIDENT BULL *** IT WILL BE HISTORIC WHEN WE CAN ELECT SOMEONE WHO DON'T LIE TROUGH THIER TEETH TO GET ELECTED ALL THIS IS BULL *** PLAIN AND SIMPLE THE PARTIES DON'T CARE HOW WE FEEL THEY JUST DO WHATEVER THEY CAN TO GET THIER PERSON ELECTED AND WE FIGHT IT OUT ON THESES *** BLOGS WAKE UP PEOPLE ALL OF THE CANIDATES SUCK REAL BAD........................................................ OUR CHOICES ARE DUMB OR DUMBER WHICH ONE DO YOU LIKE ???

  • Posted By: willnotvoteobama @ 06/11/2008 1:29:29 PM

    JUST SO YOU KNOW I'M SICK OF ALL THE THIS IS HISTORIC TIME FIRST BLACK PRESIDENT BULL *** IT WILL BE HISTORIC WHEN WE CAN ELECT SOMEONE WHO DON'T LIE TROUGH THIER TEETH TO GET ELECTED ALL THIS IS BULL *** PLAIN AND SIMPLE THE PARTIES DON'T CARE HOW WE FEEL THEY JUST DO WHATEVER THEY CAN TO GET THIER PERSON ELECTED AND WE FIGHT IT OUT ON THESES *** BLOGS WAKE UP PEOPLE ALL OF THE CANIDATES SUCK REAL BAD........................................................ OUR CHOICES ARE DUMB OR DUMBER WHICH ONE DO YOU LIKE ???

  • Posted By: peace and love @ 06/09/2008 12:58:47 PM

    Tommypie: Thanks for the laugh.

    • Posted By: Tommypie @ 06/09/2008 1:15:56 PM

      War and Peace: I am glad you had a good laugh! You may need a few additional good ones to get over it, when B. Hussein Obama loses the election come November. Why don't you "google" Black Liberation Theology to discover what Obama and his wife stand for and what is being taught in his church by he likes of Jeremiah Wright and Otis Moss. I don't believe make life easier for whites are on his "to do list".

      • Posted By: bobbyb4n6 @ 06/09/2008 1:37:49 PM

        I know. Us "whites" have it had it so hard for so long and really need a break......what a joke.

        • Posted By: Tommypie @ 06/09/2008 1:45:08 PM

          But, bobbyb4n6, B. Hussein Obama declares that he is the man for ALL the people of the land, not just for blacks and other minorities. White Trash may need some government freebies, too. Let's face it, our welfare checks may be late at times. And especially if B. Hussein Obama gets into the White House.

          • Posted By: raddave @ 06/09/2008 1:59:24 PM

            Why do you right wing nutjobs insist on Calling Obama "B. Hussein Obama"? As if trying to associate him withe Saddam Hussein? Hell, if having the same name associates someone with someone else, then where is my money from the Reese's Peanut Butter Cup?

            • Posted By: Tommypie @ 06/09/2008 2:17:29 PM

              Raddave: The reason why I like to call Obama B. Hussein Obama is becasue it has a nicer ring to it. Just try it and see for yourself how melodic it sounds!

              • Posted By: raddave @ 06/09/2008 4:04:32 PM

                No the reason you call him that is because Ann Coulter calls him that.

                • Posted By: Tommypie @ 06/09/2008 9:54:55 PM

                  Raddave: I am glad to be informed about Ann Coulter's naming Obama B. Hussein Obama.. I am surprised that you would know about her writings. I am not sure that B. Hussein Obama is not a Muslim after all. He seems to have no love lost for the State of Israel. He tries to make nice with the Jews to get their vote, but having Louis Farrakhan and Jeremiah Wright as his mentors, he definitely is an anti-Semite Scary, scary, scary!! If B. Hussein Obama gets into the White House by hook or crook, his true colors will speedily emerge.

                  • Posted By: raddave @ 06/11/2008 1:17:21 PM

                    Sure I know of Ann Coulter's writings, just because I have liberal views doesn't mean I read only "liberal articles" by liberal writers. I believe in order to form an opinion, you must know every side of the issue. And besides, I get a good laugh from Ann Coulter sometimes. Obama did attend Church at the Trinity United Church of Christ, most muslims do not go to a Christian Church. Louis Farrakhan is an anti-semite, but he is not one of Obama's "mentors" He did endorse Obama in the election, but Obama quickly said thanks, but no thanks. That would be like trying to say McCain is Anti-Catholic because of what Rev. Hagee said. Criticism of Israel does not make one anti-semitic either. An example of an Anti-semite is someone like cs_bunny who has made posts on here. I have not heard Obama criticize Israel, maybe he has. Afterall, Israel is not perfect either and they have their share of blame for the problems in the Middle East. I think whomever is the next president need to get the Israli Prime Minister and the Palestinian President together, smack both of them in the head, tell them they both are acting like idiots and make them work out their issues.

      • Posted By: raddave @ 06/09/2008 1:46:53 PM

        I don't believe Making life more difficult for whites is on Obama's to do list either.

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