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If Obama thinks people are bitter now just wait until he starts raising taxes. It's going to throw this country into a recession and perhaps into a depression. Obama has already said he is going to raise capital gains taxes. That's going to cripple an already depressed housing market.
Some people are anticpating Obama being elected and are selling assets now, including houses. The idea being that if they sell now they avoid Obama's big capital gains tax increase so they make more profit. But the market is flooded with homes and prices are coming down. The stock market is taking a hit also and perhaps Wall Street's tumbling market is anticipating Obama's tax increases.
Some analyists are advising their clients to buy gold and silver. If Obama's tax increases cause severe recession the prices of consumer goods will rise drastically. Food prices may rise rapidly. This is already happening in some parts of the world. Hard money is always exchangeable for food, clothing and necessary goods and services. If the economy collapses paper money and credit cards will be worthless.
Raising taxes sharply as Obama plans to do will force some businesses to go bankrupt and close. Many small companies balance themselves on a thin line between debt and profit. Increasing taxes could throw thousands of small companies into the red forcing them to close. People would lose their jobs and more and more families would have to depend on welfare.
In a severe recession, credit card companies could demand full payment or take possession of the borrower's assets. If the borrower has no assets the credit card company could secure a lien on future earnings. That means every paycheck the borrower gets will have money taken out to pay the credit card company until the debt is paid.
If the economy goes bust Obama and his Socialist friends will turn this country into a socialist state. Free enterprise will be a thing of the past.
So will Democracy.
UH, all that is happening and has been happening under the PRESENT ADMINISTRATION...where HAVE you been????....guess those tax "cuts" just didn't owrk!
UH, all that is happening and has been happening under the PRESENT ADMINISTRATION...where HAVE you been????....guess those tax "cuts" just didn't owrk!
Yes I know...the present administration has been running up debt at an alarming rate. Bush's tax cuts only helped wage earners so it really didn't effect those of us on salary.
Obama has already said he plans to raise taxes. At first he said he would raise capital gains taxes. That is going to hurt anyone who owns stock, has a 401-k or retirement pension. It is also going to hurt us if we sell our houses, or personal property like cars and realize a profit. Then Obama said he would raise taxes on corporations. Let me ask you a question. Who do you work for? Most Americans work for a corporation. If Obama raises taxes on a corporation who do you think is eventually going to pay? YOU WILL. taxes will be passes down to the workers. Corporations have to make a profit or they shut down. If Obamas taxes cannot be paid for by the company by either raising prices (which will lead to inflation and reduce your earnings) or by freezing or cutting wages or cutting hours the business will close and you will be laid off.
IF he is elected Obama is going to tax us all ...from wage earner to corporate executive. His history as a politician shows that he believes in big government and the expanded government services ...who is going to pay, and pay, and pay for that? YOU WILL
Major Minor you'll one of those rich guys that Hillary and Barack are talking about taking away the big tax cuts on aren't you. Suck it up the free ride is over.
Hoorah for you!
I agree completely. He gives me the screaming willies.
Can you imagine the power RevWright will have if Barack gets into the oval office?
Good golly grief, somebody needs to count to five so these people can WAKE UP!
Kym
Much ado about nothing. While the mainstream media salivates over ‘bitter’ nonsense, Pennsylvania voters appear to be focused on issues, of all things.
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Somebody count to five!
