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The middle class will get there whopping 20 dollars a week, wow.
48% of American pay ZERO taxes.
The rest of those who do will suffer under Obama because businesses will cut hours or lay off workers to make up for Obama taxing them to death.
Do not worry, two things are going down and Obama might not even get the chance to destroy our nation.
The judge is going to sign the order to force him to produce a real copy of the BC and Jerome Corsi has found something very important in Kenya that he will be sharing with us soon.
Obama is going down so there will not be any worries about his BS fake plans.
Wonder if he has a jumpsuit with stripes that will fit him?
He'll increase taxes on dividends. (That'll make people want to put more money in the stock market. After all, it's fun to pay taxes!)
I think you only pay taxes when you make money - not when you invest. Shouldn't hurt investments.
Might even encourage people to ride their stocks for a longer period of time, perhaps leading to a more stable market. I'm certain its not that simple, though.
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Originally Posted by amploud
He'll "close the loopholes" in the corporate tax code to effectively raise the corporate tax rate. (Don't worry, I'm sure increased costs won't cause businesses to lay off, outsource, cut back hours, etc. Business always benefit from increased costs, right?)
I know a few folks are worried about businesses, corporations even.
That graph shows decreasing employee compensation and rising corporate profits.
If the trickle-down theory worked, we'd probably be fine. Guys at the top have been doing really well.
That graph shows decreasing employee compensation and rising corporate profits.
So what's your point? Why are you so shocked? The sole function of a publicly traded corporation is to make profits. It has no other function. Not only does it have no other function, it has a legal duty, a moral duty and an ethical duty to make profits.
The function of a publicly traded corporation is NOT to employ people. That is incidental to the the operations of a publicly traded corporation.
If a publicly traded corporation could make profits without employing anyone, then that is exactly what it would do, and it has a legal, moral and ethical obligation.
If you don't like it, then stop patronizing publicly traded corporations. No one holds a gun to your head and forces you to do that. You do it because you want to. You don't have to buy a car from GM or Ford, you can buy one from Chrysler, which is not a publicly traded corporation.
If you don't like Chryslers, then buy a used Ford or GM from a private corporation, partnership or limited liability company.
So what's your point? Why are you so shocked? The sole function of a publicly traded corporation is to make profits. It has no other function. Not only does it have no other function, it has a legal duty, a moral duty and an ethical duty to make profits.
The function of a publicly traded corporation is NOT to employ people. That is incidental to the the operations of a publicly traded corporation.
If a publicly traded corporation could make profits without employing anyone, then that is exactly what it would do, and it has a legal, moral and ethical obligation.
If you don't like it, then stop patronizing publicly traded corporations. No one holds a gun to your head and forces you to do that. You do it because you want to. You don't have to buy a car from GM or Ford, you can buy one from Chrysler, which is not a publicly traded corporation.
If you don't like Chryslers, then buy a used Ford or GM from a private corporation, partnership or limited liability company.
I own a Chrysler - I like it.
My family is primarily ford buyers.
The point of the graph is to show that corporate profits are doing quite well in comparison to employee compensation.
Bush also gave a "stimulus check" to most middle class folks in the amount of $600 for a single people and $1200 for couples. He was criticized for this. Most experts said it wouldn’t even register as a blip of economic activity. Some Democrats claimed this was irresponsible because of the large Federal deficits.
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Originally Posted by compJockey
I think you only pay taxes when you make money - not when you invest. Shouldn't hurt investments.
Quote:
Originally Posted by compJockey
Might even encourage people to ride their stocks for a longer period of time, perhaps leading to a more stable market. I'm certain its not that simple, though.
You are confusing capital gains tax and dividend tax. They are not the same. Capital gains tax is paid only when an investor sells an asset. Dividend tax is paid whether the investment is sold or not.
Dividends are often paid by established companies to entice investors because of small capital gains opportunities. Dividends are small distributions paid to shareholders, usually in regular time intervals such as yearly, quarterly, monthly, etc. Taxes are paid on dividends the year they are received regardless of whether the dividend-earning asset is sold or not.
An increase in dividend tax will hurt investments. Stocks that are currently held for income purposes will now offer less income because of higher taxes. This will affect investors who are more risk averse, especially older investors who are approaching or in retirement. Many investors will not purchase new stocks because of the higher tax. Instead, they may switch their strategy to focus on short-term capital gains to provide the desired income. This encourages more trading and shorter hold times, not the other way around. Also, many people may take their money out of the stock market altogether and invest in things like CD’s and municipal bonds since the taxes on these investments are not increasing and the yield is comparable with many dividends.
In short, increasing dividend tax will cause people to withdraw money from the market and increase the frequency of trades. Obama’s proposal for this is naïve and misguided.
Quote:
Originally Posted by compJockey
I know a few folks are worried about businesses, corporations even.
That graph shows decreasing employee compensation and rising corporate profits.
If the trickle-down theory worked, we'd probably be fine. Guys at the top have been doing really well.
“Trickle down economics” is a utopian fantasy. It’s not the American way. Why? There’s no reason for money to “trickle down.” In America, we have “step up economics.”
What is “step up economics?” That’s when Americans step up and take responsibility for themselves and improve their skills via college, trade schools, apprenticeships, etc. Increasing your worth in the marketplace is the way to get a bigger piece of the pie. If you want it, earn it. That’s the American way.
Those people who simply float through life without post-secondary skills and expect prosperity to “trickle down” will only get the scraps from the table of prosperity.
Barack Obama and Joe Biden will cut income taxes by $1,000 for working families, because the economy needs to be revitalized from the bottom up, not the top down. Read more » (http://www.barackobama.com/issues/economy/index.php#jumpstart - broken link)
Energy Rebates
Obama and Biden will enact a windfall profits tax on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help pay for rising bills. Read more » (http://www.barackobama.com/issues/economy/index.php#tax-relief - broken link)
Create Jobs through Fair Trade
Obama and Biden believe that trade with foreign nations should create American jobs, not send them overseas. They will stand firm against agreements that undermine our economic security. Read more » (http://www.barackobama.com/issues/economy/index.php#trade - broken link)
Create Five Million Green Jobs
Obama and Biden believe that we should invest in innovation, including manufacturing jobs in the growing clean energy market -- freeing us from our dependence on foreign oil within a decade and creating five million green jobs. Read more » (http://www.barackobama.com/issues/economy/index.php#invest-for-jobs - broken link)
New Jobs Through National Infrastructure Investment
Obama and Biden believe that rebuilding our highways, bridges, roads, ports, and air and train systems will create jobs, ensure safety, and bolster our long-term competitiveness. Read more » (http://www.barackobama.com/issues/economy/index.php#new-jobs - broken link)
Technology, Innovation and Creating Jobs
Obama and Biden will increase federal support for research and technology, and promote innovation in our companies and universities so that American workers can lead the world in developing cutting-edge jobs and products. Read more » (http://www.barackobama.com/issues/economy/index.php#tech-jobs - broken link)
Support Small Business
Obama and Biden will level the playing field by eliminating all capital gains taxes on start-ups and small businesses. Read more » (http://www.barackobama.com/issues/economy/index.php#small-business - broken link)
Labor
Obama and Biden will strengthen the ability of workers to organize for fair wages, health care, and secure pensions. Obama and Biden will fight for the passage of the Employee Free Choice Act. Obama and Biden will ensure that labor appointees support workers' rights and will work to ban the permanent replacement of striking workers. Obama and Biden will also increase the minimum wage and make sure it remains a living wage year after year. Read more » (http://www.barackobama.com/issues/economy/index.php#labor - broken link)
Protect Homeownership and Crack Down on Mortgage Fraud
Obama and Biden will crack down on fraudulent brokers and lenders, make sure home-buyers have honest and complete information about their mortgage options, and give a tax credit to all middle-class homeowners. Read more » (http://www.barackobama.com/issues/economy/index.php#home-ownership - broken link)
Address Predatory Credit Card Practices
Obama and Biden will establish a five-star rating system so that every consumer knows the risk involved in credit card borrowing. They will establish a Credit Card Bill of Rights to stop credit card companies from exploiting consumers with unfair practices. Read more » (http://www.barackobama.com/issues/economy/index.php#credit-cards - broken link)
Reform Bankruptcy Laws
Obama and Biden will reform our bankruptcy laws to protect working people, ban executive bonuses for bankrupt companies, and require the disclosure of all pension investments. Read more » (http://www.barackobama.com/issues/economy/index.php#bankruptcy - broken link)
Work/Family Balance
Obama and Biden will help working families by doubling funding for after-school programs, expand the Family Medical Leave Act, provide low-income families with a refundable tax credit to help with child-care expenses, and encourage flexible work schedules. Read more » (http://www.barackobama.com/issues/economy/index.php#famiy-balance - broken link)
And how will they pay for all of this. The standard answer is "from the rich". However, common sense would tell me that (1) more taxes on businesses will either result in lay offs, moving jobs out of the country or just passing the cost onto consumers; (2) smacks of socialism - punish those who have and give to the have nots; (3) taget companies that they feel are making "too much" money and redistribute those profits. The only ones seeming to come out on the good end will be families with children and the "poor" who are having everything paid for them. I have no young children so I dont get all the tax breaks, extra leave time, earned income credit so that I get back in taxes more than I paid in, my healht care paid for.
What is he going to do for someone like me that doesnt get the handouts, isnt "rich" and ultimately is paying more and more of my income every year for everyone else?
Single people, take note. Obama says he'll give take cuts to "middle class families". If you are a middle class single you will NOT receive a tax cut. Your taxes will increase. I checked with my accountant.
Exactly! We single people, or couples without children, have to pay more and more to support the "middle class families".
More and more, Senator Obama is being touted as the candidiate who will get us out of this recession. I've read his speeches and comments lately regarding our crisis, but can't find anything SPECIFIC about what moves he will do. Does anyone have links to what exactly he will do?
Well hopefully he won't be elected.......but lets just speak hypothetically here shall we?...........We will all be turned into muslims and forced to wear towels on our heads.....then, he will do the opposite of what he promised, there will be terrorizing riots and america will crash and burn.......doesn't sound too fun to me
Wait a minute... you would like the POTUS to 'do something with the interest rates'? Isn't that the job o Federal Reserve, Chairman Ben Bernanke? Personally, I'd like the market to dictate the interest rate, not the Fed, but the Pres?!
I thought Bernanke's position ends in 2010. This will be in the middle of an Obama Presidency term. I would imagine that he would want to appoint someone who agrees with him economically. Has Obama stated that he would continue with Bernanke or is he looking for someone else?
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