Stock Market predicts Obama and deep recession (Iraq, interview, illegal)
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With obama we get proposals to nationalize oil companies that pay more taxes then 75% of americans, (meaning no more tax revenue)
Obama doesnt propose to nationalize oil companies, that was Maxine Waters spouting rhetoric in the middle of some speech grousing about windfall oil profits.
Exxon is a small player on the int'l oil playing field (not their fault, I know) but Exxon's profits are bigger than any company in the world. Everything they own is paid for. They've invested in everything they can think of down to massive advertising and buying back their own stock. They have money piled up ready and waiting for any new development (and everyplace on earth has been scouted) they'll be allowed to make. In other words they're still somewhat flexible.
Im not sure about this but I think the oil co.s pay about 40% taxes all told, which is about what we pay all told. Seems to me that for the time being - while they can afford it - they could contribute an extra point or two of history's biggest profits to the national well being in ways that are related to our petroleum use - not a bald-faced tax going into some Cadillac-voucher hellhole. I dont know if any oil company tax revenue is earmarked exclusively for, say, road maintenance or other infrastructure investment. I'm sure some is but dont know - if anyone can provide a link I'd like to read more on this.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,763,471 times
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Quote:
Originally Posted by evilnewbie
I wouldn't be quite sure that Obama will be taking out the garbage. He is a politician like any other politician and I suspect he will be "paid" nicely to keep his mitts off corporate interests but we will see. I don't doubt he will win the election though, McCain is a loser and always will be.
I agree the wealthy WILL begin paying their fair share of taxes, however look at the highlighted bold above... Since when have the middle class and the less wealthy ever paid their "fair" share of taxes. Taking into account of all deductions and credits, they pay almost nothing (and some even get back more) in taxes... that isn't exactly "fair" share of their taxes. They don't really pay a higher rate, they pay almost nothing at all. I suspect the market will go down a LOT with Obama, his raising the capital gains tax will scare investors into other stock exchanges as well as weaken corporate capital to grow and expand. Personally, I would love a recession in the market, cause all the prices will be dirt cheap and affordable for me. I will buy the same amount and get more in return when I retire (when Obama leaves office and the capital gains tax is lowered again to stimulate investments - simply because his increase in capital gains tax won't last for very long with new presidents)...
The Democrats hold the House and a powerful party in the Senate for the last several years... you can thank the DEMOCRATS for the last several years, Bush can be a lame duck his entire presidency if not for the Democrats passing Bush's abysmal policies... There will be a recession because its the natural order of things... we have booms and we have recessions... we already had our booms... guess what's coming? If you don't think there is going to be a recession... you are living in lala land...
What you are saying is not correct. I paid much higher rates of taxes to the government this year. Capital gains millionaires pay a top rate of 15% on all their income and they only pay 16% Social Security and 4 % Medicare on the first $100,000 of their income. The working man- lets say he makes around $72,000 and has 2 kids- will pay about $8500 in income tax and the FULL 8% and 2% SS and Medicare tax on ALL his income. Money the working man has to sweat to earn and support his family while the rich man dittles on his computer speculating in the markets.
Secondly the Democrats have a small majority and have been a majority for 1.5 years. For 8 years prior the GOP held both houses by larger numbers as well as both houses and the Presidency for SIX years. What did they do in those SIX years? They spent the country into near bankruptcy, increased our oil imports from 41% to 63% and got us into a trillion dollar war in Iraq based on LIES that we may never be able to get out of. Oh, and they cut money for schools and childrens health care programs.
On May 22, Socialist candidate Barack Hussein Obama Junior speaking to NBC's Domenico Montanaro said: "As most experts know, our economy is in a recession".Montanaro said that was "debatable" and questioned Obama's sources. Obama responded by changing the sunject to the global economy.
During the Wolf Blitzer interview Socialist Presumptive nominee Obama Junior once again made reference by saying ". . . this recession we are currently in"
A recession is defined as 6 consecutive months of negative growth in the GDP. So far we have only had 4 months. When Socialist Obama Junior made the statement to Blitzer it had been less than 3.
You are assuming of course that all "millionaires" live by capital gains which I don't think is very realistic... most millionaires (99.9% of them) have to work (just like anybody else, albeit their work may be real easy if they are CEO's or celebrities). They do cheat the system to pay less taxes by buying up houses here and there (with mortgages) and apartment buildings, etc. etc. So that their effective tax is below that of most people. I am NOT disputing that these people, and by these "people" I am referring to the REAL tax evaders (those whose household income exceeds 600k a year), are cheating their taxes... I am NOT referring to people who pay too much tax already (those earning below 600k a year). I wanted to set that straight...
I am not sure why you refer to a man with 2 kids at 72k a year... since the average middle class household earns about 46k a year... at 72k a year, thats more the upper end of middle class...
Since I referred to most Americans which would be at average household income of 46k not paying their share of taxes... but I will use both your 72k and the average American household income at 46k...
At 46k (a family of 3 people - father, mother, and child), their tax liability is about $2979 after the standard deduction and exemptions. After $1k child credit, their tax liability is about $1979....
At 72k (a family of 3 people - father and 2 children), their tax liability is about $10530 after the standard deduction and exemptions, After the $2k child credit, their tax liability is about $8530....
At 600k (the upper end of people who pay taxes - father, mother, and child), their tax liability is about $178,645... After the $1k child credit, their tax liability is $177k... now tell me.... how is the person at 46k and 72k paying almost nothing in taxes is fair considering the successful people have to shoulder almost half their income to taxes... The other people clearly are not paying their "fair" share... You think the person earning that much money is "dittling" on their computer"? You have NO idea what this person does... Again I am not talking about the Uber-wealthy who do nothing and get paid a lot... I am talking Americans who work hard just as anybody else and are stuck with this absurdly high tax bill... while middle income America pay almost nothing compared to what they pay... they are NOT paying MORE than the people at the upper end... NOWHERE close...
When does "what" you do correlate to how much taxes you paid... does the cashier who sits around doing nothing most of the day get taxed at 35% because she doesn't do anything? You are taxed on what you make and the middle class Americans have not paid their fair share or the uber-wealthy... they have all escaped their tax responsibility.
In the 1.5 years that have held the majority, what "good" has come out of it... the last 1.5 years, I have seen tons of waste and corruption as I have seen in the past 8 years. Oil started increasing significantly in the last year... I guess they were busy dittling on the computer during that time... Now that Congress is primarily controlled by the Democrats... WHY ARE WE STILL IN THE IRAQ WAR FOR 1.5 YEARS THEY HAVE BEEN THERE? WHY? When you are working on a 10 Trillion dollar deficit, something is going to get cut... The federal government has been increasing its deficit ever since they stoled the power of the states... something FDR started to do with his "New Deal"... shame on him...
quote evilnewbie:
In the 1.5 years that (Democrats) have held the majority, what "good" has come out of it... the last 1.5 years, I have seen tons of waste and corruption as I have seen in the past 8 years. Oil started increasing significantly in the last year... I guess they were busy dittling on the computer during that time... Now that Congress is primarily controlled by the Democrats... WHY ARE WE STILL IN THE IRAQ WAR FOR 1.5 YEARS THEY HAVE BEEN THERE? WHY? When you are working on a 10 Trillion dollar deficit, something is going to get cut... The federal government has been increasing its deficit ever since they stole the power of the states... something FDR started to do with his "New Deal"... shame on him...
Good points! I'm ashamed and embarassed for my party. We (voters) voted to against the Repubs and Bush electing a Democratic controlled Congress--BOTH Senate and House no less....and what did they do? VOTED FOR AND WITH BUSH!
Obama isn't going to change anything! What he will do is raise our taxes-not just the high rollers but us middle income taxpayers too. He has to increase taxes so he can spend our tax money on his liberal government give away programs. AND GET THIS by the time congress begins tacking on spending appropriations Obama's programs will be another super expensive economic boondoggle. We'll have to dip into our pockets again and again to pay!
This recent drop in the stock market is very telling of what investors think about Barack Hussein Obama Junior. Investors obviously believe the election Of B.H. Obama Junior will result in hard times for us all.
More preposterous nonsense ignoring the obvious failures of the Bush administration in failing to create an environment for sustained economic growth. Instead, Bush's inaction and war mongering have FAILED this economy, and the effects from this will impact the future. You don't mismanage an economy for 8 years and expect the results from that to end when you leave office. How dare you try to associate this with Obama's presidency.
The village idiot LIED to militarily engage in an ideological war that he lost. All with McCain's full support. Talk about THAT.
Again, Alexus you need to have that selective vision looked after. I know a good optomologist who can correct that but you probably won't be able to afford it if you wait until Obama is crowned.
I said: I'm ashamed and embarassed for my party. We (voters) voted to against the Repubs and Bush electing a Democratic controlled Congress--BOTH Senate and House no less....and what did they do? VOTED FOR AND WITH BUSH!
Obama isn't going to change anything! What he will do is raise our taxes-not just the high rollers but us middle income taxpayers too. He has to increase taxes so he can spend our tax money on his liberal government give away programs. AND GET THIS by the time congress begins tacking on spending appropriations Obama's programs will be another super expensive economic boondoggle. We'll have to dip into our pockets again and again to pay!
This recent drop in the stock market is very telling of what investors think about Barack Hussein Obama Junior. Investors obviously believe the election Of B.H. Obama Junior will result in hard times for us all.
You said: More preposterous nonsense ignoring the obvious failures of the Bush administration-- BLAH-BLAH-BLAH-BLAH-BLAH-- How dare you try to associate this with Obama's presidency.
Um, show me where I tied to associate Bush's failures with the Black Prince?
Last edited by Major Minor; 06-22-2008 at 04:06 PM..
More preposterous nonsense ignoring the obvious failures of the Bush administration in failing to create an environment for sustained economic growth. Instead, Bush's inaction and war mongering have FAILED this economy, and the effects from this will impact the future. You don't mismanage an economy for 8 years and expect the results from that to end when you leave office. How dare you try to associate this with Obama's presidency.
The village idiot LIED to militarily engage in an ideological war that he lost. All with McCain's full support. Talk about THAT.
Presidents have little ability to manage an economy. Thats a statement someone who is uneducated in finance and economics makes.
quote evilnewbie:
In the 1.5 years that (Democrats) have held the majority, what "good" has come out of it... the last 1.5 years, I have seen tons of waste and corruption as I have seen in the past 8 years. Oil started increasing significantly in the last year... I guess they were busy dittling on the computer during that time... Now that Congress is primarily controlled by the Democrats... WHY ARE WE STILL IN THE IRAQ WAR FOR 1.5 YEARS THEY HAVE BEEN THERE? WHY? When you are working on a 10 Trillion dollar deficit, something is going to get cut... The federal government has been increasing its deficit ever since they stole the power of the states... something FDR started to do with his "New Deal"... shame on him...
Good points! I'm ashamed and embarassed for my party. We (voters) voted to against the Repubs and Bush electing a Democratic controlled Congress--BOTH Senate and House no less....and what did they do? VOTED FOR AND WITH BUSH!
Obama isn't going to change anything! What he will do is raise our taxes-not just the high rollers but us middle income taxpayers too. He has to increase taxes so he can spend our tax money on his liberal government give away programs. AND GET THIS by the time congress begins tacking on spending appropriations Obama's programs will be another super expensive economic boondoggle. We'll have to dip into our pockets again and again to pay!
This recent drop in the stock market is very telling of what investors think about Barack Hussein Obama Junior. Investors obviously believe the election Of B.H. Obama Junior will result in hard times for us all.
Well he is half wrong:
1. Obama. I think he is probably right- I pray to God he is right- that Obama will win and the Democrats will gain big majorities in the House and Senate so we can start taking out the garbage that has piled up over the past 8 years. 2. Yes the rich are going to begin to pay their fair share of taxes like the rest of us have to do. A man that goes to work and sweats for a living pays a higher rate- much higher- than a millionaire that speculates in the stock market. Not gonna happen anymore. Now, is that going to "kill" the markets? Hardly. Look at DJIA performance in the 90s before the tax cuts for the rich and compare. Even Jim Cramer said if the Democrats win, the markets will go UP alot.
3. There is not recession and will be no recession. Will not happen. What there will be is our old friend from the 70s called "stagflation". You can thank the Republicans for that.
You gotta be kidding me right?
Fair share, give me a break, you dont make enough money to even use our roads, do you even work Kevk? I looked at many of your post and you are on night and day every day, so you must not work for a living.
The rich pay more then a fair share, dont have to number but its in the 80% + range of ALL TAXES collected.
Do you even understand business and economy? Take the money from the rich and people wont have jobs to go to. Without them, the unskilled labor bathroom cleaning types wont be paying into the system, then you will have more welfare, which of course is paid by the rich and working class.
Obama spells economic disaster!
Dont worry, the rich you are so jealous of will see that McCain wins so Obama cannot steal their money and give it to people like you.
Tax the poor more, force people to GET A JOB or two, or three so they can use the roads, schools etc most of us are paying for.
Breakdown the numbers, those making 50k and less are ripping the rest of us off. Its time to stop that.
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