Posted on 06/25/2008 4:13:48 PM PDT by Tailgunner Joe
In late March he gave a thoughtful if sometimes vague speech on the need for more financial-markets supervision, which was heavily influenced by advice from former Fed chairman Paul Volcker.
He is frequently on the phone with billionaire CEO Warren Buffett ("one of my favorite people," says Obama, "he's just completely down-to-earth and as smart as they come"), a critic of the financial industry and of tax breaks for the rich who also happens to understand capital markets better than just about anyone.
Obama calls on Apple's Steve Jobs to help him "think about how to be successful and nimble in the current global environment."
Advice also comes from Wall Street veterans like J.P. Morgan Chase CEO Jamie Dimon and Centerbridge Partners founder Mark Gallogly - as well as longtime Chicago friends Penny Pritzker of Hyatt (who runs his campaign finances), Ariel Capital's John Rogers, and investor James S. Crown. ...
He would increase the 15% capital gains tax rate - probably to 25%, according to advisors, though he excludes small businesses and new ventures from the tax altogether. He would raise the dividends tax, reinstate a 45% tax on estates worth more than $3.5 million, and close $1.3 trillion in "corporate tax loopholes." The thinking behind those tax hikes comes in part from Goolsbee, a University of Chicago economist who has studied behavioral response to economic policies. Goolsbee believes the Republican argument that lower tax rates - by spurring investment and productivity - end up generating more revenue than they lose is overblown. (He notes that Obama wants to go back to the rates of the '90s, when the economy was booming.) Instead, he believes the tax code should be used to ease financial pressures on the middle class.
(Excerpt) Read more at money.cnn.com ...
Obama means taxes.
BO is a namedropper.
He's one of the richest and yet has never, ever written a check to the US Treasury for the difference of what he has to pay and what he thinks "THE RICH" like himself should be paying. THE DAMN FRAUD! Oh, did we mention how he uses extensive TAX SHELTERS...???
This man can NOT be allowed to win the presidency!! We thought it was a tipping point in history if Gore or Kerry got into office, but Obama is the epitome of all that is wrong with the left and his vision spells certain doom for this country.
May sound melodramatic, but I speak from the heart.
Amen to your post!!
So lets roll.
The future of the American automobile industry as a result of the Magic Negro's meddling.
C’mon, he’s a crapwrasel. There is nothing “thoughtful” about BHO and everything he spouts out is “vague”.
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.