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Old 11-09-2012, 09:18 AM
 
Location: Chicago
5,559 posts, read 4,615,538 times
Reputation: 2202

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Quote:
Originally Posted by cpg35223 View Post
And you would know this how? I walk into a lot of executive suites of a lot of mid-sized companies. I sit at the table and listen to them plan for the year ahead. This is exactly the kind of conversations I hear.
I have been in dozens of board rooms. We talked about customer demand, profits, earnings. Never once did we try to predict the behavior of a new Congress and President. It is impossible to factor in, though it is possible to plan for the worse. In general, corporations who depend upon the Government largess of deficit spending must be shaking in their feet right now, if there are actually going to be real cuts in spending.
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Old 11-09-2012, 09:23 AM
 
41,111 posts, read 25,662,614 times
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The fringe of this economy is the problem. The welfare lazy are living a better life then the working poor and of course they want more. The big business use legal tax deductions to keep more of their money. Obama wants everyones money so he can do what he does best, spend, spend, spend and he will not stop.

When he calls people at $200k millionaires and billionaires he lost my vote because it told me that he knew that the true multi-millionaires and billionaires would be able to get around his tax the rich propaganda and taxation. If he would go higher I would have been more open.

A true compromise if we get the lazy welfare hands out of other peoples pockets. Yes, many people have a realist gripe about people taking advantage of them, perfectly capable but the min the word "work" is put on the table they run for the hills.
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Old 11-09-2012, 09:25 AM
 
41,111 posts, read 25,662,614 times
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AGAIN, small business and middle class are not able to game the rules. If anyone games the rules it is big business and the welfare LAZY.
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Old 11-09-2012, 09:48 AM
 
Location: Chicago
5,559 posts, read 4,615,538 times
Reputation: 2202
The Federal Government has gone $16 trillion dollars in debt over the last 12 years. There is only one group of individuals who have gained any wealth in the last 12 years ... the top 1%. The group of people who have most to gain from deficits is the top 1%. That is where all the money ended up.

If you follow the money, you have all of the answers you need. Why is the stock market collapsing? Fear that debt spending will begin to abate.
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Old 11-09-2012, 11:02 AM
 
41,111 posts, read 25,662,614 times
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Quote:
Originally Posted by richrf View Post
The Federal Government has gone $16 trillion dollars in debt over the last 12 years. There is only one group of individuals who have gained any wealth in the last 12 years ... the top 1%. The group of people who have most to gain from deficits is the top 1%. That is where all the money ended up.

If you follow the money, you have all of the answers you need. Why is the stock market collapsing? Fear that debt spending will begin to abate.
Again, what about people who started out maybe in the last lets say 6 years. Lets say a doctor, they didn't do a damn thing but to go to school for years, take on huge about of debt to do so and now in the early years are getting screwed by the government and the lazy sasquaches living off the system.

As Obama and Liz (who has millions) said I got mine, oh well for you.
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Old 11-09-2012, 11:07 AM
 
Location: Chicago
5,559 posts, read 4,615,538 times
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Quote:
Originally Posted by petch751 View Post
Again, what about people who started out maybe in the last lets say 6 years. Lets say a doctor, they didn't do a damn thing but to go to school for years, take on huge about of debt to do so and now in the early years are getting screwed by the government and the lazy sasquaches living off the system.

As Obama and Liz (who has millions) said I got mine, oh well for you.
Nothing has changed over the last six years. It has been relatively constant. The government has been spending trillions of dollars it doesn't have. The Federal Reserve has been printing money to fund the debt. The ultra-rich are getting wealthier. Everyone else is getting poorer. If you want less debt, go talk to the super wealthy. They are getting all of the money. However, they will not give up a penny of it.
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Old 11-09-2012, 05:44 PM
 
Location: Baltimore, MD
5,306 posts, read 5,984,594 times
Reputation: 10851
I see two possible scenarios:

1) There is no agreement between the parties and the Bush tax cuts automatically expire on January 1st. Note that this does not require the President to veto anything.

or

2) The House and the Senate reach an agreement whereby the Bush tax cuts are extended and the President exercises his veto. In this scenario, the Democrats in the Senate would appear to be cooperating with the House, while presumably knowing that the President will veto the bill.

I'm guessing it will be #1. Regardless of which of these scenarios is played out, the Senate could pass a bill (after the expiration of the Bush tax cuts) that would cut taxes for the middle class. Will the House Republicans (all of whom will be facing reelection in two years) be willing to vote against middle class tax cuts? Beats me.

This should be fun.
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Old 11-09-2012, 07:24 PM
 
Location: Vallejo
21,714 posts, read 24,949,937 times
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Quote:
Originally Posted by petch751 View Post
Part of the reason is the fiscal cliff meaning taxes will go up on the investment. This year investors are paying 15% on capital gains but if we go over the fiscal cliff (higher taxation) then investors will pay 39% on the profits. There will be much more fallout that will hurt the middle class too. People were warned about all the potential fallout but voted Obama in anyway because they don't think it will hurt them but it will. Companies also have to pay more money for Obamacare and this will cut into the companies profit margins. .

Basically people are bailing out while they can. Think of it this way, if you invest $100.00 and can sell the stock at $200 and pay 15% taxes on the $100 profit this year but if you wait until next year you will have to pay $39% on the profit what would you do?

If you noticed, the day before election the stock market went higher and that is because many people thought Romney was going to get elected.

Either way, never give the government the mandate (give permission) to increase taxes on any group because it will inadvertently hurt you.
There's some talk about pushing the capital gains rate to 20%, but it's early stages and bi-partisan (would have occurred whoever won). Since the House is controlled by the Republicans, it really don't matter what Obama or the Democrats want anyway. Unless it's bi-partisan, it won't occur.
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Old 11-09-2012, 07:28 PM
 
Location: Vallejo
21,714 posts, read 24,949,937 times
Reputation: 18982
Quote:
Originally Posted by andywire View Post
Average income per worker is 24K annually. They aren't going to feel the tax burden, but the lucky few remaining middle class Americans sure will. More of those 24K/year earners will be earning an unemployment check as a result. Consider it a mandatory vacation thanks to Obama and all the rest of the clowns. Some might be lucky enough to score some government freebies. Children will pay for themselves in this new economy.

At any rate, Dem, Rep, it doesn't matter. These people are all the same. Each is just as clueless and far from the real issues as the next. We are turning into a "service based economy", which is another way of saying, the majority of jobs are going to be low profit margin, low paying, and they are going to suck big time. I think the term "service based economy" is a nice way of saying the economy is backwards and unsustainable. How will the bulk of workers contribute to a viable, productive economy on a Walmart income? Not gonna happen.

As much as I despise Obama, there is nothing Romney can really do to change the course. The economy has been hollowed out, and the only way out of this mess is to reconstruct and rebuild one that works. That doesn't mean every average student goes to college and gets a liberal arts degree. That means Americans relearn the value of productive occupations, and hopefully, earn a fair income providing goods and services for consumers here and abroad. That's basically the only way to build a viable economy. I have yet to hear any politician drift from their usual rederick to actually address the real issues. People can't consume without actual wealth generating jobs.
$42k, actually. And since many house-holds have two-earners (or $84k), yes the average household will be feeling it, as will the working poor if EITC lapses which is also part of the fiscal cliff. Business and the self-employed will all feel it when Obama's Bankrupt It Faster 2% social security tax cut lapses.
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Old 11-09-2012, 09:01 PM
 
1,834 posts, read 2,688,338 times
Reputation: 2675
It looks like this year Obama is costing me $26,000 plus I have put off purchases. So the Feds low rates have a negative impact on business. The folks that would benefit from my spending now will not and will not be able to afford houses, etc even though interest rates are low.
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