President Obama spoke to America last night.
http://www.realclearpolitics.com/articles/2009/02/obama_address_to_congress.html
http://www.realclearpolitics.com/articles/2009/02/the_republican_response_americ.html
I will not be providing a complete transcription, because my opinion does not matter.
The stock market is what matters.
So far, the stock market does not seem to like President Obama or Secretary Geithner.
(For those wanting substance, the guy who really matters is Ben Bernanke. Yes, like a typical Federal Reserve Chairman, he is boring. Unlike the President, his lack of style belies deeply substantive remarks.)
http://www.realclearpolitics.com/articles/2009/02/bernanke_testimony_sentate_banking.html
On a personal level, the president is very likable. He is affable, funny, and pleasant. Yet politically, the man who ran one of the best campaigns in history seems to have hit a brick wall with regards to Wall Street.
He even began his speech by saying, “The First Lady of the United States, who is around here somewhere.” She then blew him a kiss. As I said, he gets the symbolism. The concern so far has been with the substance, or to be more specific, the lack of it.
He began with empathy, before announcing that America absolutely would rebuild and recover. He then mentioned words like “boldly” and “take responsibility.” I waited for the meat on the bones.
He said that he has “no desire to lay blame or look backwards.” He then pointed out that we have to look at how we as a nation got to this point.
He correctly pointed out that for decades, nothing was done about getting off of foreign oil, fixing health care, and fixing the educational system.
Yet he incorrectly pointed out that “regulations were gutted,” getting us into this mess. That is not true.
The chamber was clearly on his side. They even clapped when he said that his plan was “about jobs.”
In speaking about supporting bigger government, he flat out said, “I don’t.” This is not true.
He claimed that 90% of the 3.5 million new jobs that will be created will be in the private sector. We shall see. It could happen, although even if those jobs are materialized we will not know if it was because of his plan. Nevertheless, I give him the benefit of the doubt on this one.
He then acknowledged that some “are skeptical” of his plan.
Yet his way of dealing with that skepticism is having Vice President Joe Biden lead an “unprecedented oversight.” This is a platitude.
He did say that he was appointing an Inspector General with real powers. If this turns out to be true, it is a positive step.
The chamber of sycophants clapped when he pointed out thata failure to lend would choke off the recovery. I am not sure why that is a sentiment worthy of loud praise.
One thing that caught me by surprise was that a camera shot of Hillary Clinton showed her with a dour expression. I thought she left that attitude behind with the previous administration. Apparently anybody being President that is not her forces that facially unpleasant reaction.
President Obama kept using the word accountability.
Yet he then took a moment to bash Wall Street. It was a mild bashing, but more tough talk against Wall Street is not only not necessary, but harmful.
The verbal thrashing of Wall Street and corporate CEOs needs to stop.
If the President wants to let Wall Street know that he is unhappy with them, he has succeeded. They have been tarred, feathered, and excoriated.
The problem with this is that the stock market is you and me. Every day that it keeps dropping, real wealth of ordinary Americans is destroyed. The corporate CEOs will be fine. They will cut costs and lay off worker bees. This verbal assault on Wall Street is throttling Main Street.
The President said that “the cost of action will be great, but the cost of inaction will be greater.”
We do not know that. I personally disagree, but the President gets his chance, and deserves it.
A camera shot of Charles Rangel made it look like he died while sitting there. His tongue was hanging out.
The president kept using the words “bold,” and “big.” Yet what followed was neither. He did praise the G.I. Bill, which was created by JFK. The sycophants in the chamber clapped.
He again mentioned that energy, health care, and education were critical. The sycophants clapped. Yes, these speeches involve pomp and circumstance, but this speech added little else.
His rhetoric soars. He speaks well. At the moment he speaks, he inspires. The problem is when his words are processed, the markets react violently against him. The financial markets are not sold.
Spending a bulk of time on renewable energy sources brought thrills to the Pelosiraptor and Barbara Boxer, but those two women are hostile towards Wall Street.
Senator Carl Levin was asleep. If anybody should pay attention, it is a Senator from what might be the most failed state in America, Michigan.
Hillary could not even smile when the President announced that health care reform was critical. Apparently she is disinterested unless she is in charge of it.
Yet again, his goal of “seeking a cure for cancer in our time,” while noble, is not a plan. This was rhetoric in the JFK mode, but the reason JFK is lionized is because when it came to some of his bolder ideas, such as going to the Moon, we actually did it. President Obama should not bring up something so bold unless he actually can articulate a plan to put the wheels in motion so positive occurrences actually take place.
Emphasizing education is fine for a long term strategy, but is useless with regards to the short term financial situation. President Obama can speak until he is blue in the face about education, but unless he takes on the teachers unions, his words are meaningless. He mentioned the word “reform,” but stopped short of anything that could be seen as having guts.
“Dropping out of high school is not an option. It is not just quitting on yourself. It is quitting on your country. This country needs the support of every American.”
The line is fabulous. The ability to back it up is impossible. This is the heart of President Obama.
The obligatory praise of Ted Kennedy was cleverly packaged in the words of JFK.
President Obama is 100% right whyen he says that parents must “put away the video games and read to our children. I say this not just as a President, but as a father.”
This is an example where words can make a difference. The President cannot raise our children. However, the bully pulpit can be invaluable on this issue.
Yet the President cannot help himself when it comes to preaching responsibility for others while deflecting it in himself. First he praises bipartisan cooperation. Then he speaks about “the deficit I inherited.” Democrats leapt to their feet while Republicans stayed sitting.
Nancy Pelosi leapt to her feet quickest when the President promised to end corporate loopholes for corporations shipping jobs overseas. Yet the Pelosiraptor has fought for such loopholes for corporations in her district. Try getting those loopholes closed.
President Obama then went back into campaign mode, playing the class warfare card with regards to taxes. The man is a Keynesian, not a supply sider. He won the election. He is still wrong. Taxing the producers is what killed California. He wants to implement the California model nationwide.
He promised to “responsibly” end the Iraq War, before blathering about how tough he would be on terrorism while gutting the effective methods that have kept us safe. Democrats love to stand up and clap loudly when bellicose rhetoric on military matters is brought up, provided they are the ones chest thumping. The problem is they don’t mean it. The proper way to deal with the war is to let General Petraeus handle it, and actually listen to him.
He can thunder from the top of his lungs that closing Guantanamo Bay and condemning torture makes us safer, but he is dead wrong. He still has not told us where he is going to put the Gitmo detainees.
The President won the election, but he is in perpetual campaign mode. He is fabulous at giving the speeches, but so far has remained detached about actually doing the work.
It is for that reason that I am refusing to grade this speech. Again, my opinion does not matter.
I will let the stock market interpret the speech over the coming months.
The President very appropriately finsihed his speech by acknowledging that those that disagree with him are patriots that love America. Time will tell if those words mean anything when the disagreements actually take place. The left seems more interested in demonization over the right than actually solving problems. They live for the blame game.
President Obama entered the White House free from such viciousness. The test will be if the Pelosiraptor drags him down to the gutter, oir if he forces her to be lifted up in the name of getting things done.
As with most Obama speeches, this speech was light on substance. Yet if Wall Street ends up happy, I will be as well.
I don’t need platitudes. I need to see results.
AGain, the President is very likable. He has the good will of the people. Yet this will be fleeting if he does not translate his personal likability into real tangible results.
The President can speak forcefully, but he cannot dictate to the markets. They are even tougher than him.
They will decide. I pray that they start having confidence in this President. I pray that he gives them a reason to have this confidence.
The substance began when Louisiana Governor Bobby Jindal gave the Republican response.
Before Governor Jindal spoke, Sir Charles of Krauthammer pointed out that, despite all the JFK references, President Obama is more interested in being the next LBJ.
It is important to keep in mind that while President Obama promised to cut the deficit in half by 2013 (he did not mention this in the speech), he has increased the deficit by 1/3 in only one month since he took office. Again, in only one month, he has skyrocketed the deficit. The same man who thinks that growth through tax cuts will not be a self-solving problem actually believes we can spend ourselves into saving and debt reduction. He is gambling. I think he is wrong, but I hope he is right. He won the election.
Now he needs to stop blaming his predecessor and start taking responsibility. It’s his Presidency.
Governor Jindal pointed out that where we disagree with the President, we have an obligation to stand on principle.
“The strentgh of America is not found in our government.”
Governor jindal gave a moving story about how some bureaucrat nearly got a ton of people killed after Hurricane Katrina by not allowing rescue boats to go on the water without insurance paperwork.
Governor Jindal, unlike the President, gave specifics elements of the stimulus bill that were wasteful spending.
While Governor Jindal is totally right that cutting taxes, including business taxes, is the solution, the election may have ended any hope of that common sense solution taking place. The Governor mentioned nuclear power and oil drilling, which the President avoided. The President promised during the campaign to support nuclear power. Time will tell if that was hollow.
Governor Jindal pointed out that the stimulus law enacted was not read by the people who passed it.
The President used to be a Senator. Senators are speakers. Governors have to actually do things. Governor Jindal has turned Louisiana around. He has credibility in talking about the roots of the GOP because he was not part of the GOP spending spree. He was powerful when he said, “We lost your trust, and deservedly so. We will work to regain your trust.”
This is called candor.
The President had his say and the Governor had his response.
Now the stock market will sort it out.
eric
Obama;
For everywhere we look, there is work to be done. The state of the economy calls for action, bold and swift, and we will act – not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We will restore science to its rightful place, and wield technology’s wonders to raise health care’s quality and lower its cost. We will harness the sun and the winds and the soil to fuel our cars and run our factories. And we will transform our schools and colleges and universities to meet the demands of a new age. All this we can do. And all this we will do.”
This all is very poetic. What the hell does he mean by “restoring science to its rightful place” ? Maybe he means it will dictate every movement in our lives thru a bunch of BS global warming initiatives ?
And then theres this crap, he is so convinced that his metaphors will succeed that he is already making plans to give away Americas wealth to the world while were still wondering what were going to do at home.
“To the people of poor nations, we pledge to work alongside you to make your farms flourish and let clean waters flow; to nourish starved bodies and feed hungry minds.”
And then he criticized anybody who questions his plans for bigger government.
“Now, there are some who question the scale of our ambitions — who suggest that our system cannot tolerate too many big plans….
What the cynics fail to understand is that the ground has shifted beneath them – that the stale political arguments that have consumed us for so long no longer apply.”
What ? What the &%#@ is that supposed to mean ?
Does this arrogant prick actually think that because he ” says so ” our arguments are not to be applied ?
“The question we ask today is not whether our government is too big or too small, but whether it works ”
Yup, I was right, he said it specifically that we shouldnt b*tch if government gets too big and that it should not be a argument.
Does anyone doubt hes saying that the solution to America’s problems is bigger government and that anybody who challenges that fact is a cynic idiot whose time has passed ? Good luck Mr. Messiah, enjoy your koolaid, if you really believe that were jusy going to sit by while you ram this psuedo socialist crap down our throats you’re in for a nasty rude awakening
Obama’s speech may have been broad, unsubstantial, and full of bs platitides, but Jindals speech was flat out PATHETIC. Even rightwing commentators were bashing it. If Jindal thinks the same-ol’-same ol’ is going to play these days, he’s going nowhere fast. The American people are simply not stupid enough to believe that returning to the same policies that got us into this mess will somehow get us out. The boom-and-bust, low interest rate, anti-government, laizez faire approach has FAILED for all to see. It’s time for something new – whether is Keynesianism or something else. And Wall Street is not the be all and end all of anything. They have marginalized themselves, as the investor class shrinks every day. And as fewer and fewer Americans belong to that class, Wall Street will be less and less relevent to the polity. The Al “Chainsaw” Dunlap era of short-term profiteering, answering only to shareholders and no one else, followed by running off with the money from a bankrupt company has come to an inglorious end. Chainsaw Al was a &^%$#@!, not a Wall Street hero to be emulated. The time has come for a change and the old conservative ideologues had better come up with something new or just get out of the way.
JMJ
“The time has come for a change and the old conservative ideologues had better come up with something new or just get out of the way.”
Obamas BS just makes it clear that we should just go back to truied and proven measures instead of all this smoke and mirrors at the cost of my kids futures.
Its incredibly outstandingly ignorant for anyone to think that what Obama is doing is anything new.
Get the fed out of the way, let the banks do what they do they way they want to do it and stop taxing the crap outta the real movers and shakers.
You’re a bunch of freeloading puppets who make me sick
Micky, the freeloaders are the profiteers who think only of themselves and not the country that gave them the opportunities they have.That “atxing” lie just won’t fly anymore. The wealthy pay a lower share of their wealth in taxes than anyone. It’s time to take the cap off the FICA, regulate the markets, and press our trading partners for better deals. The days of whoring ourselves for a quick buck have got to come to an end. The “tried and true” conservative government is nothing but but a tried and true FAILURE.
JMJ
FBI just reported that in the last month mortgage fraud is up up 44% .
Wanna blame Wall street and Bush for that too ?
The CRA is what created a bubble full of a bunch of freeloaders who took advantage of banks pressured into giving them stupid loans.
This all started with the fed telling the banks what do, not with wall street.
Nice try, you shtick will never work with anyone who knows how to do a “fair” amount of research.
Go hang with your trufer conspiracy theorists buddys and give it a rest already, I cant even take you crap against people who work for a living seriously anymore.
“days of whoring ourselves for a quick buck have got to come to an end. ”
Yet you’re all excited about getting 13.00 a week from the Messiah ?
Gimme a break, talk about whores !
“FBI just reported that in the last month mortgage fraud is up up 44% .
Wanna blame Wall street and Bush for that too?”
No – I blame the lack of government oversight. If no one is minding the store, fraud will reign supreme. Unpaid taxes are now estimated at over 400 bil a year. The GOP gutted the IRS, and now they can’t even collect the taxes. If you don;t mind the children, they will misbehave. Laizzez fauire gov’t DOESN’T WORK!
JMJ
The stock market reflects nothing more than people’s fears, greed and
gambling mentality. It is a crap shoot and has always been so.
At one time most stockholders didn’t trade for 5 years. It got down to
5 months (recall day traders).
I would not base anything on the whims of hundreds of millions of
what amounts to individual auctions per stock daily.
As far as the economy, the deficit is a strawman argument. With
a 14.2 trilion dollar GDP, that is the only figure that counts..along
with the percentage unemployed and perhaps underemployed.
However overemployment can be troublesome too.
Sure, if the deficit were, lets say, 50% of the GDP, I’d worry.
But 10% is trivial.
Think of it this way. Let’s assume no increase in the GDP over the next
10 years..that’s a total of 140 trillion dollars. Get it, 140 trillion.
Keep the deficit as low as possible however, I agree on that.
Whether Obama can reduce it by 50% is problematic.
Bush inherited a surplus, but the Iraqi war, Katrina, etc.,
ended that luxury. I ask, why didn’t we pay as we went in these wars?
Obama hasn’t any clue as to what problems this country may face
in the future, costing hundreds of billions, of not trillions.
Take one scenario which seems plausible.
Iran now has sufficient enriched material for one bomb, and is
boasting 50,000 centrifuges within a few years (it has 5,000 now).
The more centrifuges, the more bombs it can make.
Now let’s suppose, it tests a bomb, successfully or even not
successfully, Ehud Barak (Israel’s Defense Secretary) says under
no circumstances will Israel allow Iran the bomb.
In my mind that means a massive strike, probably using atomic
warheads against 30 Iranian plant sites, just as it bombed Syria’s nuke
reactor. That will unlease forces in the Arab world beyond anything
seen in decades, maybe ever. Hezbollah and Hamas, will be joined
by Syria, and other Arab groups (DFlP, PFLP, Fatah, PLO, etc.) in a jihad.
Iran has 10m soldiers willing to die for Allah.
Israel will have to bomb the Iranian oil fields while adding the Revolutionaly Guards to their list of targets. Oil will go to 200.00
barrel. Get it.
My guess, Egypt, Jordan, Sudan, Arabia and Iraq will stay out of it,
as will Libya, understanding Israel has 200-400 nuclear warheads,
high fusion stuff (6 times more powerful than Hiroshima at a minimum)
The Aswan Dam will be on Israel’s list of targets.
Katrina will be paled in comparsion cost wise in the above senario.
The stock market, well in 1980, thanks to 17% interest rates, it was
down to 700.00. Dont’ believe me, check?
Per Obama, he wants to tax companies which outsource work to
foreign countries.
Folks, I would compare what will happen if those countries do likewise.
600,000 low wage employees to India, etc. vs hundreds of thousands of
highly paid jobs insourced., many to our South, where Honda cars
are built. Get it., the South apparently doesn’t.
Taxing those over 250,000 year is absurd. They are already in the over 35% tax bracket including state and local taxes. Talk about incentive
Obama, I guess you forget the successful in our society.
If Obama wants to curtail corporate income tax breaks, he should start
with taxing those companies which have offshore tax havens (over 60%
of corporations do not pay any tax).
Now that would be a feat but typically impossible for the IRSS to enforce.
“Sure, if the deficit were, lets say, 50% of the GDP, I’d worry.
But 10% is trivial.”
A ten percent deficit is trivial? If you couldn’t pay ten percent of your debt in a given year, do you think your creditors would find that trivial?
“Think of it this way. Let’s assume no increase in the GDP over the next
10 years..that’s a total of 140 trillion dollars.”
You don’t understand the GDP. It doesn’t accumulate like that. GDP is all the spending and investment – government and private, and all the exports and imports in a given year. It is not some cumulative national income. It is simple all the commerce, trade and production in a given year.
“Bush inherited a surplus, but the Iraqi war, Katrina, etc.,
ended that luxury. I ask, why didn’t we pay as we went in these wars?”
That’s a good question, but Iraq and Katrina were not NEARLY enough to account for the DOUBLING of the national debt. That was caused by BORROWING to pay for things that should have been paid for with TAXES.
“Obama hasn’t any clue as to what problems this country may face
in the future, costing hundreds of billions, of not trillions.”
Oh, and you know that, huh? Something tells me Obama knows more than every conservative in the country has ever so much as dreamt of.
And what is this fascination you have with Iran? What makes upi think they’d be stupid enough to initiate a MAD scenario? Iran has never behaved in such a ludicrous way. You’re a paranoid.
“Per Obama, he wants to tax companies which outsource work to
foreign countries.”
What???? He wants to REMOVE the tax loopholes that drive companies offshore in the first place! He wants to begin to end the employer-based healthcare system we have now that completely hampers our competitiveness abroad! He wants to educate our citizens so companies won’t HAVE to offshore and import employees in the first place! He hasn’t even suggested raising corpoate income taxes! Are you just lying???
JMJ
Well it’s started folks, the road to communism (ups, I mean socialism), a slip of the pen.
Our messiah (annointed one) administration has just announced (read
NYTimes), that it is proposing to change the exemption on upper income earners to pay for the anticipated increased health benefits to Americans.
They say that it’s unfair for high income people to benefit MORE
as a result of the itemized deductions.
In other words, as I interpret this, someone in the 33% tax bracket
will have the amount they can itemize lowered. A low income person
will keep the same deduction. That is the progressive income tax
to a fault.
There will also be permits necessary if companies exceed certain
limits in gases going into the atmophere. This will also be used
as a form of revenue to finance Obama’s NWO (New World Order).
Maybe we should also cap salaries and earnings at the lower levels
so that we can compete with the Chinese whose products are
just about 100% in our discount stores. You know, lower wages
lower cost of goods sold.
In fact, the more I think about the bail-outs of our car manufacturers,
the more I like the idea of bailing out our other retailers from
the competition abroad.
Hey, Obama, hows about doing away with the capital gains exclusion
on the sale of homes? I mean, other than increasing the basis ( a new roof, etc., ) why should these people get two breaks, the deduction for
interest AND capital gains tax, especially since they didn’t do anything
to earn it?
Why didn’t John McCain think of all this?
Oh BTW, if you figure the tax on people earning over 250,000 year,
I have to wonder, “Why are they working so hard?”
“I blame the lack of government oversight. If no one is minding the store, fraud will reign supreme.”
Yes well, thanks to Carter and Clinton the opportunity was made available for that fraud to take place.
All I have to do is hide my money, quit my job, or tweak the numbers on an application and bingo !, due to the regulations imposed on the banks by these idiots you are now paying my mortgage.
“Obama knows more than every conservative in the country has ever so much as dreamt of. ”
Oh, and you know that, huh? (ridiculous)
“He hasn’t even suggested raising corpoate income taxes! Are you just lying???>
No, you are the blatant delusional liar in this case.
Obama proposes to increase the top individual income tax rate by 13% and the second individual income tax rate by 10%.
— Obama proposes to increase the capital gains tax rate by 33%.
— Obama proposes to increase the tax rate on dividends by 33%.
— Obama proposes to raise the top payroll tax rate by between 16%-32%.
— Obama proposes a new payroll tax on employers to help pay for national health insurance.
— Obama proposes to reinstate the death tax, which is being phased out under current law, with a new top marginal tax rate of 45%.
— Obama proposes tax increases for corporations as well, such as the windfall profits tax on oil companies.
— Obama’s protectionist trade policies even suggest higher tariff taxes.
You cant just cruz along making crap up if you’re to be taken seriously.
I mean really, I’ve heard delusional devotion the messiah before but this statement is about as stupid and over the top as anything I’ve heard yet.
“Something tells me Obama knows more than every conservative in the country has ever so much as dreamt of. “
I’m gonna print that statement on a banner and hang it where I ca see it everytime I need a good laugh and need to be reminded just what a bunch of zombie lemmings the ones followers are.
I can just picture someone with their eyes glazed over sayin that with a little drool comin from the corner of their mouth while his neck twitches a little.
Too funny.
Micky, if you think I’m goping to complain about Obama proposing the raising of taxes, you’ve got another thing coming. The upper income brackets have been underpaying for years. While he’s at it, he should revamp the IRS to collect all those unpaid taxes as well. The wealthy in this country simply are not paying their fair share. I say go back to the old Roosevelt brackets!
Here’s one of his proposals as reported by Bloomberg:
For earners in the top 35 percent bracket, itemized deductions would lose 23.3 percent of their current value. If Obama reinstates the top tax rate of 39.6 percent in 2011 as he has said he would and kept the limitation on deductions, such write-offs would be worth 30 percent less to top earners.
Now, you said…
“Obama proposes to increase the top individual income tax rate by 13% and the second individual income tax rate by 10%.”
That’s a lie.
“Obama proposes to increase the capital gains tax rate by 33%.”
“Obama proposes to increase the tax rate on dividends by 33%.”
Lies. Here’s what he’s planning according to the LA Times…
— Families with incomes below $250,000 would pay current capital gains rates (a maximum tax of 15% on gains on assets held more than one year). Those earning more than $250,000 would face an increase — a top rate of 20%.
— The top dividend tax rate would remain the current 15% for those earning less than $250,000, but would rise to 20% for those earning above that threshold.
— For single people, the tax increases above would apply to those earning more than $200,000.
“Obama proposes to raise the top payroll tax rate by between 16%-32%.”
I don’t even know what that means. Here’s what he’s planning according to him last year as reported on MSNBC…
The 6.2 percent payroll tax is now applied to all income up to $102,000 a year, which covers the entire amount for most Americans. Under Obama’s plan, the tax would not apply to incomes between that amount and $250,000. But all annual income above the quarter-million-dollar amount would be taxed under his plan.
“Obama proposes a new payroll tax on employers to help pay for national health insurance.”
Lie. The payroll tax would apply as always on all income that is FICA taxed.
“Obama proposes to reinstate the death tax, which is being phased out under current law, with a new top marginal tax rate of 45%.”
There’s no such thing as a death tax. Dead people can not pay taxes.
“Obama proposes tax increases for corporations as well, such as the windfall profits tax on oil companies.”
Windfall profits on the opil companies, yes. COrporate taxes in general, no, that’s a lie. He proposes closing some loopsomes and actually LOWERING the corporate tax rate – a samrt move. According to Reuters…
U.S. President Barack Obama said it would be possible to lower the rate on corporate taxes if the many loopholes in the tax code were closed.
“If you closed loopholes you could actually lower rates. That’s an area where there should be the potential for some bipartisan agreement,” Obama said at a White House “Fiscal Responsibility Summit.”
He said that the tax rate “on the books” was high in the United States.
But Obama added, “In practice, depending on who it is — what kind of accountant you can hire — they’re not so high. That’s an area we can work on,” Obama added.
“Obama’s protectionist trade policies even suggest higher tariff taxes.”
Lie.
You really should get your information from sources that are not LIARS.
JMJ
“Micky, if you think I’m goping to complain about Obama proposing the raising of taxes, you’ve got another thing coming. The upper income brackets have been underpaying for years. While he’s at it, he should revamp the IRS to collect all those unpaid taxes as well. The wealthy in this country simply are not paying their fair share. I say go back to the old Roosevelt brackets”
Why am I not surprised at the leech mentallity.
Besides that, all I was out to do was prove that you’re a liar.
I did just that.
————————————————————————————
“Lie. The payroll tax would apply as always on all income that is FICA taxed. ”
Nope.
Once again, you’re an absolute liar to the umteenth degree, or just dumb.
Right here bub.
Your Alma mater even has a story on it.
http://www.huffingtonpost.com/jonathan-tasini/president-elect-obama-tax_b_155915.html
“President-Elect Obama, Tax The Rich To Keep Deficits Lower”
“There’s no such thing as a death tax. Dead people can not pay taxes. ”
Call it what you want grasshopper, they guy you voted for seems to think it exists and wants to profit off it.
“Windfall profits on the opil companies, yes. COrporate taxes in general, no, that’s a lie.”
Gee, last I checked many oil companies ands subsidiaries were incorporated . Wise up.
http://www.usatoday.com/news/politics/election2008/2007-09-18-obama-tax-plan_N.htm
The Illinois senator said connected corporations and wealthy investors have benefited in the current tax code and it’s time to give money back to the workers who fuel the U.S. economy”
.What he has said is that he will remove many corporate tax breaks. The effect is the same, an increase of taxes for corporations.
http://www.factcheck.org/elections-2008/…
Individual tax increases for the successful:
The centerpiece of Obama’s plan is to end the Bush tax cuts and allow the top two tax rates to return to 36 percent and 39.6 percent. He would also phase out personal exemptions and deductions for those with income in excess of $250,000.
Again, with an eye toward punishing those who have achieved economic success, Obama plans to end the Social Security payroll-tax cap for those making more than $250,000. The cap is currently set at a more reasonable $102,000.
Under Obama’s plan, these individuals will face a tax rate of 15.65 percent from payroll taxes and the top income-tax rate of 39.6 percent for a combined top rate of more than 56 percent on each additional dollar earned.
http://www.philly.com/inquirer/opinion/2…
Still think I’m lying ?
Wise up
“He proposes closing some loopsomes and actually LOWERING the corporate tax rate – a samrt move. According to Reuters…”
he he, which of the million reporters with rueters said that ?
He said that the tax rate “on the books” was high in the United States.
“But Obama added, “In practice, depending on who it is — what kind of accountant you can hire — they’re not so high. That’s an area we can work on,” Obama added.”
I’ll bet he’ll work on it.
“You really should get your information from sources that are not LIARS.”
You’re a joke Mr McJones. A huge pathetic joke
You arrogantly spew that line of crappola with nothing, no sources of your own to back up your asinine claims.
The guy at the sign shop offered me a deal on banners, say something else really dumb so I can have two made for the price of one
Well it’s out, Obama’s recipe for the destruction of the capitalistic
system in this country, we’ve fought two world wars for and spent
trillions to defeat Communism’s menace.
Trillions are now being printed as I comment, and trillions more
are in the works.
The budget for this year will have a deficit of over 1.7 trillion
But, our messiah Obama has forecast it will be halved
within a few years.
Isn’t this all thrilling.
Who in G-ds creation will be paying for all this finacing
by our friends, the Chinese, Arabs, etc?
I would remind all that we haven’t even begun yet
to figure out how to save social security and medicare.
I am considering moving to a safe place, like the Gaza Strip,
where I’m told the US plans to undue the devestation caused
by Israeli warplanes in retaliation for 3 years of constant
rocket fire into Southern Israel..starting with the primitive
home made Kassams, followed by the more advanced Grad rockets
financed and made by Iran to be followed soon by Iranian 3 stage
Fajr rockets which can reach into Tel Aviv.
Oh btw, talking about engaging, talking and diplomacy, a faction of
Fatah, the good Arabs (under Abbas), is now threatening violence
in Israel (more suicide and roadside bombings and rockets), if Israel doesn’t comply with their demands, moving it’s people and assets into
the San Fernando Valley (my interpretation). They just had a demonstration in the West Bank which saw 100,000 people ranting and raving in approval.
Sooooo, Obama still wants dialogue with these people, AND extending
the bail-out (rescue) to those deemed worthy.
Oh me oh my, what have we come to?
I forgot to post this link:
http://www.foxnews.com/politics/2009/02/24/fact-check-president-glosses-complex-realities/
The way I see it, Obama talks a whole lot of talk, but his statements, promises and claims always have more than one side that isn’t being told. I just don’t trust the guy any further than I can throw him when it comes to making any straight up simple statement.
When he says hes goin to cut $2 trillion in wasteful spending is way too straight up to not look at with suspicion without laughing my arse off at the same time. If he is being honest and actually pulls it off, I’ll shut up and go away forever.
And then theres this doozy I’m wondering about when I opened up my RSS news this evening and get two headlines.
“Obama seeks $634B over 10 years for health care ”
“House OKs $410B bill to boost domestic programs”
Drugs and booze screwed me up a little so my math may be a little fuzzy, but I’m pretty sure that is another $1.44 trillion in new spending, right?
So, he wants to cut $3 trillion, but in the first month he adds well over a trillion plus this new $1.44 trillion…
Does that mean that even if he cuts a trillion we’re still looking at a deeper defecit ?
Or, does the $2 trillion cut include the $2+ trillion we just added or will add over the next month or so?
Whatever, I’m sure he’ll have some BS spin on it when hes asked about it.
Like the 13 million jobs he claims the bill will save.
Once again, I might not be the sharpest knife in the rack but wouldnt he have to prove that those 13 million jobs would if been lost in the first place ?
I’ll make a prediction here and now.
This president will come closer to being booted out of office sooner than any other president in our history.
Hes going to let an awful lot of people down