I wouldn't blame the oil company execs if some of them are indignant about our judgements of them. They've been supplying all the oil we felt we needed (remember those gas guzzlers as far back as the 50s???) and it's a lot of work to invade countries and create financial institutions to control the resources of other countries so that we can continue to buy all our "stuff" without worrying about the consequences.
Again...change the way and the why we spend and we change the economy.
Rant done.
Bushed
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Posted By: nohobohos1 @ 06/12/2008 12:00:08 AM
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Posted By: nohobohos1 @ 06/11/2008 11:40:57 PM
Only the American people can change the American economy. Two-thirds of it is consumer spending.
Wall Street is simply about making wagers on consumer spending.
The way we affect this spending is to change our myth about the American Dream. You don't get better as a person by buying more things. The only message that's been sent to the financial world is that we're willing to buy anything at any cost - damn the consequences if I lose my job, if my child gets sick, if a natural disaster strikes.
Here's the hard truth: If you don't own your company (and know it's financial prospects intimately), IF YOU DON'T HAVE A SKILL OR TALENT THAT IS RARE AND.OR EXCECPTIONAL (AN IMPORTANT AID IN REMAINING GAINFULLY EMPLOYED FOR MANY YEARS),if your health or the health of a family member is sketchy, if you make good money now but know that you tend to spend extravagantly, then these are signs, for example, that you don't belong in a six figure or more home.
And let's kill this myth: Every American doesn't deserve or need a home. (Hell, some people don't even want one and they can afford them.)
The harder truth: most of us fall into one or more of those categories.
All of these things, losing a job, illness, overspending , could put anyone in debt. But bankruptcy and ruin it should not cause. Yes, deregulation run amok can contribute, but it wouldn't contribute in the massive numbers that it has if we just change the way we think about what we buy and why we buy it.
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Posted By: phiomalibumalibu @ 06/11/2008 10:32:48 PM
Importing over a million IT workers from other countries, mostly INDIA is one of the biggest mistakes this country ever made....basically, ignoring the possibilities that Americans wanted those jobs, and our KIDS Need those JOBs...
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Posted By: CorbinB2 @ 06/11/2008 9:13:02 PM
The war caused this problem and nothing short of ending it will even come close to 'getting back to where we once were'. Frankly, pandora's box is wide open now, with the hinges unscrewed and buried 500 feet underneath the deepest ocean, along with the keys, the lock.....you get the idea.
Bush, either through his actions, the actions of his administration and even in a large do to his and their inaction let this mess unfold right in front of us. It is way beyond repair now and with our world reputation shot all to he**(double hockey sticks), we're just screwed.
George junior had quite the opportunity to make history here with some innovative financial and energy specific policies, but he chose to not act at all or let some one else run the war mongering show.
Now here we are with $4 gas, outrageous national deficit and debt, a dollar that is getting more worthless by the day, and the list goes on and on and on and on. What we really need is for corporate America to use their control and fix this since they are the only ones who can exert any pressure that would register as effective anyway.
As consumers we need to demand affordable alternative energy, affordable health care for everyone and people in office who actually give a damn about this country and will take action to prove it. If your representatives aren't these people DON'T vote for them anyway. Take the lesson from Brewster's Millions and choose none of the above if the peopl on the ballot aren't doing or willing to do what is required. PERIOD!
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Posted By: Papito58 @ 06/10/2008 11:51:29 PM
Rather than advocate a gas tax holiday which would increase demand, deplete inventory and contribute to even higher oil prices, a radical idea, study the feasibility of providing a heavily subsidized (free or almost free until the economy recovers) national public mass transportation system, inner city as well as suburban.
I'd surmise that such a shocking idea would immediately cause the price of oil to drop, reduce our dependency on Mid East oil and stimulate the economy by freeing up disposable cash, cash that would otherwise be used for fuel purchases (this would be a long term benefit and not a one time government 'stimulus' handout, which 'sounds' good but has little real impact). The housing market may be stimulated as well, both by freeing up individual cash and making suburban housing more attractive and affordable. The huge trade deficit would certainly show a decline, the USD would rise, once again allowing the average American to enjoy quality vacations, plus the added bonus of cleaner air.
I do not have the resources to find out, but a comparison of the money spent on Iraq to a national mass transportation system, which would directly affect every American, would be interesting.
To encourage ridership and keep from regressing to prior habits, once the price of oil declines, an artificially high fuel price can be maintained through taxes, which can then be used to subsidize Mass Transit.
A massive governmental infusion into the mass transit system, akin to the dam and road building program during the depression is what's needed becaus ethe price of oil will never again see $40/bbl,, but none of our 'leaders' have the wit to propose such a grand scheme.-
Posted By: pinkpanther87413 @ 06/11/2008 12:13:05 AM
IT WOULD BE A DAY OF DAYS TO SEE WHAT THE UNITED STATES WOULD LOOK LIKE, AND ACT LIKE, IF WE SPENT ALL WHAT WAS SPENT IN IRAQ, HERE, AT HOME!!! WITH NO DEPENDENCE ON FORIGN OIL! WHAT A SIGHT WE WOULD BE, FOR THE WORLD TO USE AS AN EXAMPLE, YA YOU KNOW WHAT WE U-S-E-D TO BE! WE NEED TO BE THERE AGAIN!
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Posted By: Broke in Texas @ 06/11/2008 8:52:38 PM
Remember about the only thing still manufactured in this country is defense related, when this war stops bigl ayoffs in USA. unfortinate but true.
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Posted By: pinkpanther87413 @ 06/11/2008 12:09:17 AM
AS PER BUSH AND MCCAIN, IF WE AGREE WITH THE NEW CLIMATE ACT, GAS WILL GO UP!! AS I WRITE THIS MORONIC PIECE, THE PRICE IS GOING UP ANYWAY!!! SO WHY NOT SIGN THE ACT??? DU
CRUSH,KILL,DESTROY, THAT'S US. I LIVE SO FAR OUT IN THE MIDDLE OF NOWHERE NO MASS TRANSIT WILL EVER BENIFIT ME IN MY OR MY SONS LIFE TIME BUT MOST IN THE STATE WOULD AND THEREFOR I DO AGREE WITH WHAT YOU WROTE IN PART BUT A BIG PART. HERE WE NEED ROADS,BRIDGES, FOR MASS TRANSIT TO TRAVEL ON, OR REPAIR WILL BANKRUPT ANY CITY QUICK.
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Posted By: Broke in Texas @ 06/11/2008 8:34:34 PM
Must allow drilling everywhere-impose strict safeguards to protect enviroment
Do not allow any more oil company consolidations, lessens competion
Massive goverment subsify to build 10 to 15 coal to gas/diesel plants(scattered aroung the country),1 billion to 2 billon each, a gift to the American people. 30 billion for solar plants, 30 billion for wind plants, gift to the American people. Go back to regulating utilities.Allow a decent profit not excess. All autos sold in the U.S. must be able to run on gasoline, E85, pure ethanol, coal gasoline. When a driver pulls up to the pump he has a choice.
The president should stop by executive order, the USA will not export oil/gasolineto other countries, none period.
All auto sold must get 35+ per gallon, period.
choice.
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Posted By: jmbrennan @ 06/11/2008 2:43:59 PM
So what is your point? That the government can control the economy/ Do you really think gas prices are going to go down if we have Obama or whomever in the top seat?
Lower energy costs the way liberals & enviornmentalist see it calls for no drilling, mining or nuclear developement. New technologies are the answer they say. Well have a new boat is the answer when your sinking, but how long to build one after the enviornmental impact study? The water is coming in by the keel, over the washbox,, and down the hatches. WHAT DO YOU FLAT EARTH LIVE IN THE COLD & DARK SOCIALIST HAVE FOR AN IMMEDIATE ANSWER? I know, blame Exxon / Mobil! RIGHT.-
Posted By: raddave @ 06/11/2008 4:47:52 PM
High Gas prices are only one problem with the economy. More drilling will not bring down the cost of oil, there is enough oil pumped out now. The problem is refining capabilities and no one seems interested in investing their record profits to build more. New technologies are the answer over the long run. I agree we should build more nuclear facilities, Even Al Gore has said this.
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Posted By: Nins @ 06/11/2008 12:14:48 PM
In the first session of the 110th Congress (2007), McCain holds the dubious honor of missing, by a wide margin, more votes than any other Senator save one. The only one who missed more? That would be Senator Tim Johnson, who was recovering from a brain hemorrhage.
The Washington Post has a database that tracks vote missed in the Senate. McCain missed a whopping 261 of 468 votes, about 56%. And it not because he wasn't there in the building. He refuses to vote on any bill that is controversial or that he might be criticized for. Consequently, he votes on almost all of the silly votes (like "Name a Daisy Day") but fails to be in the room when really important stuff is going down, like votes concerning the war in Iraq. Senator Harry Reid, the Senate Majority Leader became so angry with McCain about this that he took him task for it right on the Senate floor, saying "Senator McCain has spent considerable time defending the President on Iraq, but has only managed to show up for four of the last fourteen Iraq votes."
In case you think I made that up, I will give you a reference: "McCain Missed Votes on Iraq Triggers Reid Rebuke" published in The Hill, May 17, 2007.
You may be asking why would McCain not want to vote on Iraq? Because he already knew then that he would be running for President, and he knew the war was increasingly unpopular, and he didn't want the Democrats to be able to point to his record and say "Look how he votes on Iraq."
McCain has also missed important votes on national security, funding of law enforcement, equipment for firefighters, and of course, his most recent no-show, on giving veterans the GI Bill. In fact, McCain misses more than half of his votes.
Is this the kind of President that you want?-
Posted By: amendment2man @ 06/11/2008 4:47:02 PM
a truly skilful politician. this is what i need not some naive idealist with a bunch of supporters who are going to become disenfranchised ifIF he ever gets elected. this will be due to the fact that you will then grow up and become adults and realize that idealism has its place and the political dissappiontment is part of the game. they are only people. the way you all takl it sounds as if your boy can do magic.... almost want to see him get elected so you all will be shut up when he turns out to be just another politician.
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Posted By: amendment2man @ 06/11/2008 11:29:48 AM
wiser: you do have to admit tho' that mc c does suck less than the other guy. at least mc c knows what the job description is and it is not all that pleasant. the other guy amounts to a no substance cheerleader and motivational speaker. Lets elect Joel Osteen or anthony Robbins then maybe Deepak Chopra? great inspiration with little substance.
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Posted By: Nins @ 06/11/2008 12:10:13 PM
Hi, Second Amendment. Obama does have a plans on how to resolve the pressing problems facing America. Go to BarackObama.com, click to SKIP SIGN IN on the first page, then click on the ISSUES tab at the top of the second page. Scroll to the bottom of the Issues menu and you will see a tab for BLUEPRINT FOR CHANGE. The Blueprint discusses many of Obama's plans to help America.
Also, you could read his book Audacity of Hope, which is not only a political history of the USA, it also gives lots of information about Obama's style as a politician and what he wants to accomplish for America.
Obama is motivational and inspires people to think about the government and get involved with changing it for the better. Did you know that he has registered seven million new Democrats in the past year? Getting people out of cynical apathy and into political awareness is good for America.
Obama's social programs are DIFFERENT from the past social programs of the tax and spend Democrats. Obama's education program, for instance, has an economic goal in mind. He wants to train thousands of scientists and engineers so that we can compete in the information technology, research and development world markets. It is obvious that we can no longer compete with manufacturing and heavy industry -- China, India, Mexico and Brazil have knocked us out of the box on that one, for good. Obama wants America to come up with the best alternative energy technology on the planet and thereby free us of our dependency on oil. Furthermore, when the oil runs out, we will have all the energy technology, and will be selling energy to the OPEC countries, instead of vice versa. Obama's education plans aren't so your kids can make art projects on the taxpayer's dime. This is real planning on how to strengthen America. INVEST IN OUR PEOPLE rather than give tax breaks to corporations that ship our jobs overseas, leaving us destitute.
This is just one example of Obama's SUBSTANCE. I could go issue by issue and show how Obama plans to tackle different problems and solve them with smart, creative solutions. This kind of thinking doesn't shrink wrap down into sound bytes, precisely because it is substantial. In addition to substance, Obama also offers inspiration. And considering the all bad economic news, I think that Americans could use a little inspiration.-
Posted By: amendment2man @ 06/11/2008 4:33:11 PM
Iwould love to see such an analysis. just because plans are outlined doesnt meanthat they are necessarily different from anyone elses. see the other newsweek article today "vote for Mcbama"
he outline plans yet they are really no diffrent than the typical kneejerk responses which are in play even now. your candidate has no magic no matter what he would have you believe. this is the point. he lacks practice in implementation. this is undeniable even you an avowed obamite can not deny this.
your post smacks of idealism. idealism is wonderful from the perspective that we would like to define what is desirable. it is dangerous when electing leaders as numerous examples from history have shown. temper your idealism with what exists and the methods which exists. no matter what anyone tells you there are established channels to get things done and no one is going to change this overnight or within reasonable time(8 years). Iwill vote for Mccain as I believe he will suck less.
Mccain 08
HE JUST SUCKS LESS
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Posted By: PaTriotDE @ 06/11/2008 1:48:10 PM
Just because has been stuck in the Washington Bubble for over 20 years does not mean that he know the job. On top of that, how can he be effective when he has shown that he will change his core values depending on how the wind blows. In addition, the president have to be in full control of his faculties, something that Bush never have, to be effective. McCain seem to get lost if his teleprompter is not working.
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Posted By: Tony C. @ 06/11/2008 8:42:20 AM
TO CBRYANT:
How about everyone stop referring to Obama as the first Black anything. He is not the first BLACK nominee of a major political party for president. He is not the first Black anything. The black community is comparing him to MLK and saying how fitting it will be when he formally accepts the nomination for president on the 40th(?) anniversary of MLK's speech. B.S. he is not the Messiah as the black community and the rpess are making him out to be and this is not the Second Coming.
Obama's mother was a white woman from Kansas for God's sake. His WHITE mother and WHITE grandmother raised him becaue, as is so prevalent in the black community, is black daddy took of when he was a kid and never looked back. Even Obama has said in several speeches and interviews that part of what drove him to succeed was to somehow send a message to his fatehr to say that maybe he should have stuck around.
OBAMA IS NOT BLACK. He is BI-RACIAL and IF he should become the next president, he will be the first BI-RACIAL president of the U.S. he is not some trophy for the black community to parade throguh the streets because they have no role models in their own homes and communities to look up to.-
Posted By: gingersnaps @ 06/11/2008 4:29:26 PM
Why do race have to come into this discussion. What is wrong with a people wanting to feel pride in a historic event. I think it was whites who came up with the 1% drop of black blood race distinction. There are bad apples in all races. One thing we first need to stop doing is stereotyping and making blanket statements. I was brought up in a single family home due to divorce. Later my mother remarried. My mother made it without welfare or any public assistance, not even from my biological. I went to college on student loans. (Yes, some blacks do not received financial aid) Now, I am in graduate school. Footing the bill myself. AND ALL OF MY FRIENDS HAVE DONE THE SAME. I waited til I was married to have a child. I work everyday. I pay taxes. I forgot to say I am a AA woman. So think before you speak.
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Posted By: phoenixtoo @ 06/11/2008 4:03:23 PM
oh please Lord preserve us from any of his help.the best thing he could possibly do for us is to play golf, read his comics, color with his crayons, anything except "help"
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Posted By: soap box @ 06/11/2008 3:52:24 PM
I think that joyoung's comment is more than a little over the top. Anarchy didn't work in Somalia very well.
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Posted By: pinkpanther87413 @ 06/11/2008 1:16:13 PM
Maxium life span grows to 78,mmm one years older than McCain, so ask Obama, he has got many years to go! We the People have a week, till we go to war with Iran,, cause McCain wants to build[ 20 ] more nuke plants, and Oh my God?? Iran Wants[ ONE ] and we will go to WAR??? so they cannot get
[ ONE plant ] to our [15-20] working plants,,,bullshit! Don't bother to say, they will build nukes! SO WHAT, SO DO WE! WE OWN OVER 2000 NUKES!!! THEY OWN, WELL NONE!!! HOW MANY IS THAT????-
Posted By: prbkcc @ 06/11/2008 3:19:39 PM
Well, you are correct in a way, a peace loving country (not that we are the best and brightest example) should be allowed to have nuke energy as a clean and efficient means to power their nation. A couple of non-technical problems occur with a country like Iran; the likelyhood that they would use thier nuke plants to make bombs, waepons, etc and then use them is frighteningly high, they may not be technologically or financially capable to safely operate these plants to prevent death of thier people. currentl y the single major problem with our plants is that we have no solution of disposing/recycling spent fuel rods, but the current way is the safest and most reliable way that we can at the moment with current technology.
Yes we have nukes, but unless we are attacked in a manner the warrants thier use, then we are not going to use them. whereas i would think that the leaders of Iran would have little or no qualms of using that kind of weapon system against thier own people, other nations, or us. so i think in the current state of the world it is for the best that iran does not have Nuclear capabiliteis.
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Posted By: liberalcapitalist @ 06/11/2008 9:50:52 AM
Until economics is taught in high school, we will continue to blame the government (specifically the president) for the economy, while being part of the problem. Only congress can approve spending or taxing which has only very little effect on the economy since even the entire fedral budget would only amount to a small percentage of total GDP. The president has EVEN LESS control over the economy since all he can do is SUGGEST legislation. Americans are not taught and don't get that. What does cause recessions is when we (the majority of Americans) spend and spend and get over extented on credit, the have to stop spending for a while to get caught up. The only thing that would prevent recessions (at lest in part) are laws that prevent people from getting very far in debt. I want it now Americans will not go for that.
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Posted By: thompsonHS @ 06/11/2008 2:49:04 PM
or we could stop protecting the banks by making it more and more difficult for someone to file bankruptcy. Or even better we could stop protecting big business all together, the trickle down effect didn't work for Ronald and guess what it still doesn't work, the rich get richer and the poor get poorer, not supporting the vast lower working class, protecting the upper class and eliminating the middle class: Karl Marx is looking righter and righter all the time.
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Posted By: Nadine122 @ 06/11/2008 2:39:09 PM
P.S. - What does Herpes have anything to do with this?
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Posted By: thompsonHS @ 06/11/2008 2:36:44 PM
If I wasn't afraid of being labeled a terrorist I would make a comment how our problems have stemmed from the fact that those old politicians have gotten far to comfortable up there on capital hill and that we should do something to take away that comfort. I am not saying we should go (lame) duck hunting, that will accomplish nothing (in facIf I wasn't afraid of being labeled a terrorist I would make a comment how our problems have stemmed from the fact that those old politicians have gotten far to comfortable up there on capital hill and that we should do something to take away that comfort. I am not saying we should go (lame) duck hunting, which will accomplish nothing (in fact just for saying that I probably just booked a ticket to Guantanimo bay). We should however make sure the politicians know that if they are not willing to work for us, like we elected them to do, we will find someone else to do it, and we don't have to wait for the next election to force change, Protest, don't sit here and blog, remind them that the American people are not just a mindless horde for them to take advantage of. Again this will probably be my last post because for exercising my first amendment rights make me a terrorist. Maybe that???s what our government needs, to remember they should still be afraid of us, they still only have power if we give it to them, and we can take it away too. But I don't want to take an all expense paid trip to Guantanamo so I am not going to say what I am thinking.t just for saying that i probably just booked a ticket to Guantanamo bay) . We should
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Posted By: benmora1956 @ 06/11/2008 2:33:07 PM
Stop printing unbacked money, stop threats of future wars and start pulling out of Iraq. See that was not so hard.
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Posted By: benmora1956 @ 06/11/2008 2:31:58 PM
Stop printing unbacked money, stop talk of war and start pulling out of Iraq. See problem partially solved.
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Posted By: ICYEYES800 @ 06/10/2008 7:49:41 PM
GEORGE BUSH WILL GO DOWN IN HISTORY AS THE MAN WHO ATTEMPTED TO SAVE THE UNITED STATES, BUT HAD TO DEAL WITH A SENATE WITH A SHORT MEMORY! GWB, IS MY HERO..HE IS ONE MAN, WHO IS NO CAPABLE OF DOING ANYTHING WITHOUT THE HELP OF SENATORS AND LEGISLATORS WHO WANT TO DO THE RIGHT THING, NOT THE POPULAR THING...THIS GUY HAS WITHSTOOD EVERY KIND OF CRITICIZM AND STILL STANDS TALL...HE'S A NO BULL KIND OF GUY, AND IN OUR COUNTRY'S HISTORY, THERE'S NEVER BEEN A TIME THAT WE NEEDED SOMEONE WHO WOULD NOT BOW TO POPULARITY OVER THE NEEDS AND PROTECTIONS OF OUR NATION..AMERICANS SEEM TO HAVE FORGOTTEN HOW TERRIFIED EACH OF US WAS ON 9/11...WE WERE UNITED AND WANTED REVENGE...BUT, WE'RE NOT PATIENT AND LOST INTEREST QUICKLY..WE'RE A COUNTRY OF WHINEY PEOPLE WHO WANT INSTANT GRATIFICATION...SO, THOSE OF YOU WHO ARE YELLING TO BRING THE TROOPS HOME...WHEN THE NEXT BIG EVENT, COURTESY OF THE MILITANT MUSLIM STRIKE AT A HOME NEAR YOU AND INJURE OR KILL YOUR LOVED ONES, DON'T CRY ABOUT WHY???? IT WILL BE THE FAULT OF ALL THOSE WHO DIDN'T SEE A BIG VISION OF WHAT LAY AHEAD, ONCE WE LET OUR GUARD DOWN....
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Posted By: PaTriotDE @ 06/11/2008 2:18:41 PM
Another Kool-Aid drinker. The only thing I agree is that after 9/11 we were united and expected our government to do the right thing to kill Bin Laden, instead he used our worst national disaster to advance his cronies policies and invade Iraq. Unless you have been under a rock, it has been proven over and over again that we went to war not to kill the perpetrators of 9/11, but to have an excuse to invade Iraq. By doing this Bush and Company created a situation that has been identified by many experts and government organizations that makes us LESS safe since we have strengthened Iran, strengthened Al Qaida since Bush created more hate against us and more recruits for Al Qaida are joining their cause, destroyed our economy (unless you think that the billions that we have spent in Iraq is worth, instead of building and maintaining our own infrastructure). Your hero was a coward that too afraid to go to Vietnam, but does not mind sending a lot of us to war, and by the way, it he is your hero are you in the military, fighting in Iraq? if you are not then my sentiments for you are the same as for your hero. And also, maybe YOU were terrified during 9/11, I was mad and wanted revenge, instead we got this fiasco in Iraq.
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Posted By: pinkpanther87413 @ 06/10/2008 8:35:31 PM
i guess your memory challanged also if you don't know what daddy was up to in Afganistan in 79! Iraq WAS NOT NEEDED! HUSSAIN WAS UNDER GLASS AS OF 91! GET OVER IT! ALL HE DID WAS OP-EN THE ABILITY, FOR THEM TO DO MORE BY F-A-I-L-I-N-G TO KILL OSAMA, DADDIES FRIEND!
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Posted By: Nins @ 06/11/2008 12:37:24 PM
Oil and war, war and oil. Environmental destruction. Endless greed. US corporations getting tax breaks while shipping jobs overseas to countries that have no environmental protection laws, no workers' rights, no human rights. Countries where people are factory slaves and the air is so polluted you can hardly breathe. US military violating the Geneva convention, torturing prisoners. US government imprisoning people without charging them with any crimes, and holding them for years without trial. Working class Americans losing their homes in a mortgage banking scandal, and the government bails out the banks, not the working people.
It's simple:
If you are sickened by these things, vote for Obama. If you think these are good things, vote for McCain.
I'm a Republican and I own two corporations. I thought it would be a cold day in hell before I ever said anything like this. But the unprecedented corporate greed aided and abetted by an unscrupulous Presidential administration is now starting to take down the US economy. I have to stand up and protest.
Corporations are good only insofar as they strengthen America. When they start to weaken us, we need to re-evaluate the rules and regulations governing business.
And we need to get rid of George W. Bush, along with all of his misguided policies that have dragged our once proud nation into the mud.-
Posted By: Seasoned @ 06/11/2008 2:16:28 PM
Nins.......You poor devil, there is nothing good that you can find in this country. This must be the worst place in the world.
No wonder you are a Obama supporter......You are of the same mindset. -
Posted By: Seasoned @ 06/11/2008 2:12:13 PM
Nins,
You poor devil, you see nothing good in this country at all. I understand why then you are a Obama supporter. Your are of the same mindset -
Posted By: willnotvoteobama @ 06/11/2008 1:11:20 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!
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