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Old 03-09-2012, 06:15 AM
 
Location: Cape Coral
5,495 posts, read 6,090,306 times
Reputation: 2216

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Quote:
Originally Posted by ShakenStirred View Post
....I am not the least bit thrilled in any of our candidate choices for President. I was a strong supporter of Herman Cain, but we all know the end to that story.

However, I will vote for whomever runs against Obama for one single, solitary reason, which is the capital gains tax. If Obama is re-elected and the capital gains tax is raised from 15% to the top percentage bracket, it will simply crush our economy further.

Capital gains from stock dividends are the only income I have had for the past 4 years while trying to turn my construction company around. If the capital gains tax is raised, not only it will make it very diificult to support my family, but using those gains to keep my business open and keep people working will be impossible.

Many of you probably don't understand it, but an increase to the capital gains tax will deter investment in business, and will be a major setback to business owners everywhere who are the backbone of the economy. It will cost so many jobs it will most likely lead to a severe recession. Even if you are an Obama supporter, I urge you to study up on the capital gains tax, and at least voice your opposition to raising the capital gains tax to your Democratic Senators and Representatives. That's all I am asking.
I agree with you on keeping the capital gains tax low. But to say that is the only reason you would vote against Obama doesn't make you sound like a Tea Party conservative. First, Obama would raise taxes on everyone if elected. Just look at his budget proposal. Senors would get creamed by his increase in taxes on dividends.
Personal liberty will be lost if Obama is re installed. He has no regard for the constitution. Obamacare and Cap and Trade are designed to give the government control over every thing that you do in the course of your daily life. The King can dictate what medical coverage you may or may not have, how much energy you may or may not use.
Obama would continue to dole out government payouts for votes, spending us into bankruptcy. He would let illegal immigration expand for more votes. He would slash the military to unsafe levels. He would continue to close coal power plants and curtail drilling for oil and gas. increasing gasoline prices to the $8.00 they have in Europe.
So your one reason is only the beginning.
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Old 03-09-2012, 06:28 AM
 
Location: Sonoran Desert
29,291 posts, read 39,621,417 times
Reputation: 18709
Sorry, but someone has to pay for the excesses of the past decade such as the unfunded Bush wars. It will not get done by slashing social security. It will take cuts and tax increases. Geithner yesterday said that he believed they could afford to let the Bush tax cuts expire for the top 2% only and leave them for the other 98% and meet the deficit reduction goals. I would expect that to be Obama's approach.
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Old 03-09-2012, 07:06 AM
 
1,705 posts, read 826,797 times
Reputation: 1526
Quote:
Originally Posted by Ponderosa View Post
Sorry, but someone has to pay for the excesses of the past decade such as the unfunded Bush wars. It will not get done by slashing social security. It will take cuts and tax increases. Geithner yesterday said that he believed they could afford to let the Bush tax cuts expire for the top 2% only and leave them for the other 98% and meet the deficit reduction goals. I would expect that to be Obama's approach.

Finally the voice of reason....I dont understand how those such as McCain, Demint, et al..continue to press for military intervention across the globe, but still not want tax increases. How in the hell are we supposed to pay for that? Bush was the first President to cut taxes during a war. I am sorry, this whole mantra of the world will come crashing down if bush's tax cuts expire, is bogus. I am all for making cuts, but if we all have to kick in a bit more to get this deficit down then so be it. And I mean everyone needs to chip in, not just certain segments.
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Old 03-09-2012, 07:12 AM
 
Location: Sonoran Desert
29,291 posts, read 39,621,417 times
Reputation: 18709
Quote:
Originally Posted by treasurefinder View Post
Finally the voice of reason....I dont understand how those such as McCain, Demint, et al..continue to press for military intervention across the globe, but still not want tax increases. How in the hell are we supposed to pay for that? Bush was the first President to cut taxes during a war. I am sorry, this whole mantra of the world will come crashing down if bush's tax cuts expire, is bogus. I am all for making cuts, but if we all have to kick in a bit more to get this deficit down then so be it. And I mean everyone needs to chip in, not just certain segments.
I agree that we should ALL pitch in either by accepting cuts to our benefits or paying higher taxes or, in some cases, both. Whether we supported Bush's wars or not, the expenses should have been paid. It was folly not to do it at the time. We put it on "the card" and now we all should pay it as best we can without destroying the recovery and making matters worse. Ultimately, strong growth is going to help more than taxes or cuts. Whatever that payment plan is, I agree with Obama that it needs to be balanced - both taxes and cuts.
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Old 03-09-2012, 07:15 AM
 
12,639 posts, read 7,292,698 times
Reputation: 7449
Quote:
Originally Posted by Art123 View Post
It's hard to take anyone seriously who "was a strong supporter for Herman Cain."

I don't think that even Herman Cain was serious about Herman Cain for President.

999? Bills only three pages long? Virtually no campaign staff? These are not the thoughts and actions of a serious candidate.

He was on a book tour, and still is. He was not really serious about becoming President, and I seriously question anyone's judgement who was serious about supporting Herman Cain for President.
It's hard to take anyone seriously who is a strong supporter of the failure in the Oval Office now.

Oblama was an inexperienced rube when he ran for office and he is still in way over his head. He is incapable of leading and the only reason he hasn't been totally exposed is that the media runs interference for him.
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Old 03-09-2012, 09:02 AM
 
1,906 posts, read 2,948,335 times
Reputation: 2445
Quote:
Originally Posted by TempesT68 View Post
Obama's plans are to slash taxes significantly for small business, the right, to raise them.

If you are able to live solely off of stock dividends, you're not exactly hurting

See that's the problem when you rush to judgement about a persons situation. You think because somebody is living off dividends that automatically makes them wealthy. Well, I was, at one point in my life for a very brief period back in 2003-2006 roughly. And it just so happens instead of buying myself a 12,000 square foot home with all the amenities and a Ford F650 and all that stupid stuff, I instead did the following:

1. I paid of my very modest 1400 sq. ft. home.
2. I invested a large portion of my earnings into the stock market, which I have been investing in since I was 17.
3. I paid my employees huge bonuses during those years. Some who didn't even graduate high school were making over $70,000 per year.
4. I paid off my 2002 Tahoe and my wifes 2007 Honda Van.
5. I kept 2 high paid employees on the payroll with full benefits for 2 full years longer than I should have because I was hoping the housing market would turn around, which it did not, and still hasn't.
6. I donated huge amounts of time, labor, materials and cash to charitable causes in my community.

So, now that my business has lost money 4 yrs. in a row and I am down to 3 employees from 36, I made a small dividend income last year of $36,000, of which I loaned $3000 to the company one time to make payroll, plus I will now have to pay $5,400 of that in capital gains tax. That brings me down to 27,600 annual. For a family of four with a 90 lb. dog, that ain't a whole lotta money, no matter where you live.

So sure, I could sell all my dividend paying stocks, and live off that money for awhile, but once I do that, with construction still being in the tank, I risk spending all of it and then not having any income at all. I made good decisions with the money I made that has helped my family survive during this severe economic downturn, and had I not, we would be hurting, very badly I might add. So your point was????
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Old 03-09-2012, 09:05 AM
 
1,906 posts, read 2,948,335 times
Reputation: 2445
Quote:
Originally Posted by Art123 View Post
It's hard to take anyone seriously who "was a strong supporter for Herman Cain."

I don't think that even Herman Cain was serious about Herman Cain for President.

999? Bills only three pages long? Virtually no campaign staff? These are not the thoughts and actions of a serious candidate.

He was on a book tour, and still is. He was not really serious about becoming President, and I seriously question anyone's judgement who was serious about supporting Herman Cain for President.
You can question my judgement all you want, doesn't really matter much. Obama needs to go, and anyone that doesn't see that, well, there is no question about their judgement, at all.
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Old 03-09-2012, 09:11 AM
 
1,906 posts, read 2,948,335 times
Reputation: 2445
Quote:
Originally Posted by rikoshaprl View Post
I agree with you on keeping the capital gains tax low. But to say that is the only reason you would vote against Obama doesn't make you sound like a Tea Party conservative. First, Obama would raise taxes on everyone if elected. Just look at his budget proposal. Senors would get creamed by his increase in taxes on dividends.
Personal liberty will be lost if Obama is re installed. He has no regard for the constitution. Obamacare and Cap and Trade are designed to give the government control over every thing that you do in the course of your daily life. The King can dictate what medical coverage you may or may not have, how much energy you may or may not use.
Obama would continue to dole out government payouts for votes, spending us into bankruptcy. He would let illegal immigration expand for more votes. He would slash the military to unsafe levels. He would continue to close coal power plants and curtail drilling for oil and gas. increasing gasoline prices to the $8.00 they have in Europe.
So your one reason is only the beginning.
I should clarify. What I meant was I would vote against him based on that one reason alone with nothing else being considered. Obviously to anyone who pays attention, the list of other reasons he needs to go grows with every day he resides in the Oval Office. Although I do give him credit in the foreign policy department. He has snubbed his nose at the other world leaders and pushed forward with using drones, and pursuing terrorists in much the same manner as GW Bush did. Like Bush said when he was asked what he thought about Obama undoing all the anti-terror legislation he had accomplished, he simply smiled and said "When he knows what I know, he'll do what I do."
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Old 03-09-2012, 09:19 AM
 
1,906 posts, read 2,948,335 times
Reputation: 2445
Quote:
Originally Posted by Swingblade View Post
His plan is to raise it up to 20% which would hurt you and be of no help to the economy. I would safely call it a redistribution of wealth which Obama supports, he would take money from one sector and invest it in another. Most likely in green energy and of course with a further slowing of the economy social programs.

I wonder if his economic advisers have thought if they try this that people would draw down their investments before it took effect. Lets see,should I cash out my investments now and take a 15% hit or wait next month and take 20%. Hmm, I wonder what that will do to the stock market?
Swingblade, I don't fault them for not understanding the implications....it's not taught anywhere in our school systems, and although I'm not an anti-Wall Street kinda guy, they big guys in the market do like to keep it confusing on purpose.

What nobody commented on was the fact that I already paid 39% tax on the money I invested, and now I'm getting another 15% tax on that (more if Obama gets his way), so my tax on that money is at 54% and I'm living, by IRS standards, at poverty level. Obama certainly didn't put the system in place, but he's sure trying to screw it up worse than it already is!

Looking at it from another point of view....I have to pay all my income to taxes all the way until July, and only after that do I get to keep any. Yeah, sure, that's fair huh?
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Old 03-09-2012, 09:24 AM
NCN
 
Location: NC/SC Border Patrol
21,135 posts, read 21,829,143 times
Reputation: 23216
I am probably more conservative than a tea party person but see no reason that one type of income should be taxed more than another type. Why should my children pay more taxes on income they made by the sweat of their brow than we made from either social security or investment income. Income is income. Include all income received and tax it according to the amount made. In doing that, we would basically give back a great deal of the social security we receive therefore making our investment income almost tax free. I don't see that retired people need any more help than that.

Taxes should not be used to control the economy. A free enterprise system will self-regulate. That is why I will not be voting for Obama. I am for a smaller government.

One tax that should not exist is the death tax. I think that would hurt the economy. Don't tax income passed down. Let the children become strong and tax the money they make with what the parents have left them. They just lost their parents or a husband or wife just lost their spouse; don't kick them when they are down. That is the only way double tax happens the way I see it. When a parent or spouse dies, no income has been made and humans are the only "animals" who can leave things to their young. God granted that, so don't mess with it.

I can see the next post coming about not giving social security to someone who has an income over a certain amount. That would not be right. Everybody who paid into social security should get what they were promised when they paid into the system. But social security income should be income just like any other income. All income, no matter how it is made, should be taxed.

Our tax system would be more fair if we didn't have all the rules and regulations going along with it. Our government needs to get out of deciding which income should be taxed. All money made that can be used should be taxed.
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