Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Obama, Boehner, The Mayan Calendar and The Fiscal Abyss: Evidence From The Market
Confounded Interest ^ | 12/21/2012 | Anthony B. Sanders

Posted on 12/21/2012 9:49:37 AM PST by whitedog57

I wasn’t at all surprised by the news that House Speaker Boehner (R-OH) pulled “Plan B From Outer Space” from the floor and threw the ball back into President Obama’s and Senate Majority Leader Reid’s (D-NV) court.

They will likely agree to some of sequestration. And if Republicans don’t go along with it, it’s into the abyss we go!

The reaction to Speaker Boehner’s failure to pass Plan B in the House? As of noon today, stock market indices are down.

Gold is up!

And the 10 year Treasury rate is down.

And with all the talk about tax increases, many forget that taxes are set to go into place on “the rich” due to Obamacare.

The top tax rates on capital gains and dividends will jump from 15% to 18.8%.

A new tax will charge “the rich” to help pay for Medicare’s hospital insurance. There will be an additional 0.9% tax on earned income in excess of $250,000 for families and $200,000 for individuals to help pay for Medicare Part A, which covers hospital stays, nursing facilities, and hospice care.

Manufactures and importers of certain medical devices will be taxed 2.3% of the price of the product.

Here is a detailed analysis of other tax increases.

Well, like the movie “2012" and its Mayan Calendar “end of the world” silliness, it appears that the US will go into the fiscal abyss. It just depends how fast the Obama Administration wants to send us.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Government; Politics
KEYWORDS: blogpimp; boehner; fiscal; obama; taxes
Obama must be giggling with glee!
1 posted on 12/21/2012 9:49:48 AM PST by whitedog57
[ Post Reply | Private Reply | View Replies]

To: whitedog57

Without huge spending cuts we were going over the abyss anyway.

Pubs were in a lose/lose situation. Obama and the Lamestream press was going to blame them either way. All part of Obama attempting to have a one party government.

It’s 1930s Germany all over again.

2 posted on 12/21/2012 11:06:08 AM PST by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: whitedog57

What seems to have caused you to excerpt your own blog?

Over and over?

What are your thoughts about that?

3 posted on 12/21/2012 3:55:15 PM PST by humblegunner
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson