Comments on: The Obama Re-Election Clock - One Minute Closer to Midnight http://stockmarketsage.com/2009/02/28/the-obama-re-election-clock-one-minute-closer-to-midnight/ Mon, 06 Sep 2010 16:20:06 +0000 http://wordpress.org/?v=2.6.5 By: gotrootdude http://stockmarketsage.com/2009/02/28/the-obama-re-election-clock-one-minute-closer-to-midnight/#comment-32 gotrootdude Fri, 06 Mar 2009 16:54:56 +0000 http://stockmarketsage.com/?p=129#comment-32 BTW, How's your stocks doing. Bought any citi group? I've been looking at Darling Int'l, OM Group and other base metal companies myself. : ) BTW, How’s your stocks doing. Bought any citi group?

I’ve been looking at Darling Int’l, OM Group and other base metal companies myself. : )

]]> By: gotrootdude http://stockmarketsage.com/2009/02/28/the-obama-re-election-clock-one-minute-closer-to-midnight/#comment-31 gotrootdude Fri, 06 Mar 2009 16:52:49 +0000 http://stockmarketsage.com/?p=129#comment-31 I brought up the second luxury home comment due to the fact that most people who have money enough to buy a second home, generally have that money due to buying as an investment rather than a consumable. Those on the lower fiscal end buy out of necessity rather than investment. I see home ownership as more of a need for a roof over one's head than an investment. Buying up houses for the sake of buying just inflates home prices and creates a housing bubble, like we have now. The damage, of which, falls upon all Americans; explaining the "upon the backs of others" statement. Over consumption does not just hurt the over-consumer. I'm not too much of an ardunt Obama supporter. I'm more of a realist. I brought up the second luxury home comment due to the fact that most people who have money enough to buy a second home, generally have that money due to buying as an investment rather than a consumable.

Those on the lower fiscal end buy out of necessity rather than investment. I see home ownership as more of a need for a roof over one’s head than an investment. Buying up houses for the sake of buying just inflates home prices and creates a housing bubble, like we have now. The damage, of which, falls upon all Americans; explaining the “upon the backs of others” statement. Over consumption does not just hurt the over-consumer.

I’m not too much of an ardunt Obama supporter. I’m more of a realist.

]]> By: admin http://stockmarketsage.com/2009/02/28/the-obama-re-election-clock-one-minute-closer-to-midnight/#comment-29 admin Fri, 06 Mar 2009 02:44:48 +0000 http://stockmarketsage.com/?p=129#comment-29 Hi Gotrootdude, You bring up some good points, I agree with long term tax cuts, I don't agree with the "economy is expected to be in recovery" statement. Going back to JFK to use a top tax bracket is a stretch since the world and globalizaiton is a much different place, but I like the historical fact. I do dispute the mortgage interest point. Do you really think people got to big off a home or a second home becuase "we can write off the interest, lets do it". Yes, that is a benifit but certainly not a "loophole that all these evil people have been exploiting for years!". On a home you pay real estate taxes to begin with, then, if you have a mortgage you pay principal and interest. The fact you have to pay taxes on that interest since you take away the write off is just unethical. So, if we receive interest from a bank account we HAVE TO PAY taxes on it, but if we pay interest on a mortgage, we have to pay taxes as well? How can you have it both ways? Very dramtic with the "luxury life built on the backs of others" too. I like the it! Imagine if I had written a blasting article! I can assume you are an ardunt Obama supporter and this article says he is STILL a shoe-in for re-election and that he is just opened the door a crack to Republican, just a crack. On a side note, just to show you I am not totally "out on an island" on this one, here is a similar blog post that came out after mine..I wonder if he read this one first? http://www.cnbc.com//id/29510052 At the risk of redundancy I'll ask it again: Is he? Is President Obama effin' CRAZY? President Obama blames the continuing global financial crisis for the unmitigated carnage on Monday, when the Dow fell below 7000 and closed down 300 points (or 4.2 percent) at a 12-year low of 6763. Bullspit! The man is in denial. By now we know the economy is ailing. The main thing that has changed: The disturbing details of Obama’s tax-and-spend plans are becoming all too clear. Most of the moves he has made in his first 43 days in office have been bad for the markets, damaging to investors, ill-advised for the economy and detrimental to repairing the financial collapse wracking the entire planet. Yesterday Treasury Secretary Timothy Geithner told a House committee the new budget’s “single most overriding priority” is to “stimulate private investment.” Yet Bam proposes to more than double the tax rate on hedge funds and private equity funds, engines of private-sector growth. Can’t be good for firms like Blackstone [BX 5.439 -0.691 (-11.27%) ] He wants to rescue housing—but aims to cut back on the tax deduction for interest paid on mortgages, targeting anyone who earns over $208,000. Aren’t these the people who could most afford to buy a new home? That hurts homebuilders like Toll Brothers [TOL 14.42 -0.47 (-3.16%) ]. Hi Gotrootdude,

You bring up some good points, I agree with long term tax cuts, I don’t agree with the “economy is expected to be in recovery” statement. Going back to JFK to use a top tax bracket is a stretch since the world and globalizaiton is a much different place, but I like the historical fact.

I do dispute the mortgage interest point. Do you really think people got to big off a home or a second home becuase “we can write off the interest, lets do it”. Yes, that is a benifit but certainly not a “loophole that all these evil people have been exploiting for years!”. On a home you pay real estate taxes to begin with, then, if you have a mortgage you pay principal and interest. The fact you have to pay taxes on that interest since you take away the write off is just unethical. So, if we receive interest from a bank account we HAVE TO PAY taxes on it, but if we pay interest on a mortgage, we have to pay taxes as well? How can you have it both ways?

Very dramtic with the “luxury life built on the backs of others” too. I like the it! Imagine if I had written a blasting article! I can assume you are an ardunt Obama supporter and this article says he is STILL a shoe-in for re-election and that he is just opened the door a crack to Republican, just a crack.

On a side note, just to show you I am not totally “out on an island” on this one, here is a similar blog post that came out after mine..I wonder if he read this one first?

http://www.cnbc.com//id/29510052

At the risk of redundancy I’ll ask it again: Is he? Is President Obama effin’ CRAZY?

President Obama blames the continuing global financial crisis for the unmitigated carnage on Monday, when the Dow fell below 7000 and closed down 300 points (or 4.2 percent) at a 12-year low of 6763.

Bullspit! The man is in denial. By now we know the economy is ailing. The main thing that has changed: The disturbing details of Obama’s tax-and-spend plans are becoming all too clear.

Most of the moves he has made in his first 43 days in office have been bad for the markets, damaging to investors, ill-advised for the economy and detrimental to repairing the financial collapse wracking the entire planet.

Yesterday Treasury Secretary Timothy Geithner told a House committee the new budget’s “single most overriding priority” is to “stimulate private investment.” Yet Bam proposes to more than double the tax rate on hedge funds and private equity funds, engines of private-sector growth. Can’t be good for firms like Blackstone [BX 5.439 -0.691 (-11.27%) ]

He wants to rescue housing—but aims to cut back on the tax deduction for interest paid on mortgages, targeting anyone who earns over $208,000. Aren’t these the people who could most afford to buy a new home? That hurts homebuilders like Toll Brothers [TOL 14.42 -0.47 (-3.16%) ].

]]> By: gotrootdude http://stockmarketsage.com/2009/02/28/the-obama-re-election-clock-one-minute-closer-to-midnight/#comment-28 gotrootdude Fri, 06 Mar 2009 00:56:18 +0000 http://stockmarketsage.com/?p=129#comment-28 And just where is this attack? The president wants to raise the top tax rate to 39.9 percent starting in 2011 just at the time when the economy is expected to be in recovery. That's the SAME marginal rate seen at the end of the Clinton administration. From all the uproar, you'd think Hoover was in the white house. Bush's tax cuts, which disproportionately benefited the wealthy are being allowed to expire. They were never supposed to be permanent! Obama is not actually raising taxes. He's letting the Bush tax cuts expire. President Bush and Congress could have made them permanent but did not. The legislation purposely canceled the cuts after 10 years to hide their enormous long-term cost. That's not Obama's doing, less I remind everyone. What's about the great John F. Kennedy's tax cuts, you remember, when the top bracket was dropped down to 50%! What a great Republican.. Or Reagan, raising capital gains tax to 28%. Isn't Obama's capital gains just 20% in comparison? Taking the mortgage interest off the table? Won't this also make people think twice about buying a home they CANNOT afford or shouldn't be buying as a second luxury home in the first place? Do we really need more people living a unsustainable luxury life built on the backs of others? Oh the inhumanity of it all. And just where is this attack?
The president wants to raise the top tax rate to 39.9 percent starting in 2011 just at the time when the economy is expected to be in recovery. That’s the SAME marginal rate seen at the end of the Clinton administration. From all the uproar, you’d think Hoover was in the white house.

Bush’s tax cuts, which disproportionately benefited the wealthy are being allowed to expire. They were never supposed to be permanent! Obama is not actually raising taxes. He’s letting the Bush tax cuts expire. President Bush and Congress could have made them permanent but did not. The legislation purposely canceled the cuts after 10 years to hide their enormous long-term cost. That’s not Obama’s doing, less I remind everyone.

What’s about the great John F. Kennedy’s tax cuts, you remember, when the top bracket was dropped down to 50%! What a great Republican.. Or Reagan, raising capital gains tax to 28%. Isn’t Obama’s capital gains just 20% in comparison?

Taking the mortgage interest off the table? Won’t this also make people think twice about buying a home they CANNOT afford or shouldn’t be buying as a second luxury home in the first place? Do we really need more people living a unsustainable luxury life built on the backs of others?

Oh the inhumanity of it all.

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