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You think the Congress did special favors for these people?
I actually think cutting the capital gains tax to 15% was pretty nice favor. I also think that cutting the tax rate for upper income Americans to some of the lowest rates in hstory was wonderful.
We have the best government that money can biuy.
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No, they just seized the opportunities the situation presented. Millionaeres are minted at times like these. If you ran to the gun store or the canned food store to buy disaster supplies intead of running to the bank to make investments, then you threw away the opportunity of a life time.
Actually this bus will come around again and there WILL be other opportunities. Actually stock market of the mid to late 1990's and the bull run from 2002 to 2007 in selected stocks was much more profitable than the current one as of now.
Last edited by JazzyTallGuy; 03-17-2011 at 06:58 AM..
A million bucks of net worth sounds pretty darn wealthy to me. Five million is win the lottery level.
IMHO Creating 600k new millionaires while working wage earners face frozen incomes and possible job losses to foreign contractors actually illustrate the failure of our economic policy not the success. A successful economic policy would have the poor employed in productive jobs and the middle class expanding into the previously exclusive wealthy segments.
Our system has not changed from the late 1800's; those with a lot get a lot more while those with little lose it all. Bush's Have and Have Mores’ won again.
Government does not and cannot dictate where companies invest in factories, resources and hire workers.
The reality is that for the most part Corporate America is going where the money and new economic growth is and that is OUTSIDE THE UNITED STATES. Corproate America has decided to stagnate wages for workers and reward executives for creating value and profit. The American worker has idely stood by for the last 30 years believing in "Trickle Down Economics" while corporations have been pissing on them and telling them it's raining.
Another reality is for many types of jobs American workers are no longer wage competitive with other workers around the world. Corporations are taking advantage of hiring lower wage workers in other countres to generate massive profits.
American people need to come to the realization that corporations do not have the national interest at stake when they make decisons only their own.
One question I have is what would have happened to the economy had the conservatives been allowed to get what they wanted....i.e......leave the "free market" alone to do its thing: allow our banks, insurance companies, car companies, etc go bankrupt.....no stimulus package.....no backstopping of unemployment benefits.....let people lose their jobs and homes just as the free marketeers would see fit? Basically no Keynesian rescue of the economy over the last 3 years?
I suspect there would have been mass revolt as unemployment would have skyrocketed to 50%. And these conservatives would have been hauled off to the guillotine. Thank goodness the government stepped in and rescued them. So now, instead of their heads being lopped off, they have more money in their pockets.
I actually think cutting the capital gains tax to 15% was pretty nice favor. I also think that cutting the tax rate for upper income Americans to some of the lowest rates in hstory was wonderful.
We have the best government that money can biuy.
The rate has been unchanged for a decade.
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Actually this bus will come around again and there WILL be other opportunities. Actually stock market of the mid to late 1990's and the bull run from 2002 to 2007 in selected stocks was much more profitable than the current one as of now.
There has never been a more profitabe two year run than the last two years. You can look back and select some stocks from any period and boast that they did well. The Clinton era tech rally was impressive, but it was also a bubble.
Is everything about Obama and Bush for you? Does your life revolve around who the president is?
Sure it does.
Our President is suppose to be our leader and when he fails as bad as Obama has you really have to keep on your toes.
I never made this about Obama, the posters here are desperate for something good to post about Obama and give him credit for new millionaires being created.
So it is only fair to show that Bush created more then Obama did with this pro business, pro worker ideas.
Or I could do the typical liberal excuse and say all these left over millionaires were just a product of Bush's policies and they just now kicked in.
If someone wants the real facts they can look into who some of these new millionaires are and how they made themselves rich.
Some of them invested in real estate over the last couple of years. Since Obama has a record number of foreclosures and bankruptcies the investors took advantage of Obamas failure plan to save homes and bought up all the Obama foreclosures for pennies and made a killing on re selling them.
It gets old to see liberals being so hypocritical. When the dow goes up it is all because of Obama, when it goes down it is because of Bush.
With liberal being so hateful and jealous of smart rich people I cannot understand why someone would post this.
Does this mean under obama the rich are getting richer and the poor and middle class are going downhill on his watch. Guess so.
And no my life does not revolve around those two but I have to come in and correct the daily left wingers who try to find anything they can to give Obama credit. He has been such a miserable failure they have become desperate and often try to pull the BS over on us.
One question I have is what would have happened to the economy had the conservatives been allowed to get what they wanted....i.e......leave the "free market" alone to do its thing: allow our banks, insurance companies, car companies, etc go bankrupt.....no stimulus package.....no backstopping of unemployment benefits.....let people lose their jobs and homes just as the free marketeers would see fit? Basically no Keynesian rescue of the economy over the last 3 years?
I'd say we would have sunk into a depression with over 20% unemployment, and 50% taxation, but in the long haul (10 years or so) the economy would be on a better foundation.
Our President is suppose to be our leader and when he fails as bad as Obama has you really have to keep on your toes.
I never made this about Obama, the posters here are desperate for something good to post about Obama and give him credit for new millionaires being created.
I didn't see the credit assigment, but all I see in your posts is Obama, Obama, Obama, Bush, Bush, Bush. It gets pretty old.
More people became millionaires during the Great Depression than any other time in history.
Those folks didn't sit home and whine. When handed lemons..they made lemonade.
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