It will cost us big time, if he gets elected.
Posted on 06/27/2008 8:17:27 PM PDT by FocusNexus
The core of Obama's economic plan is
(a) more government spending: $65 billion a year for universal health insurance, $15 billion a year on alternative energy, $20 billion to help homeowners avoid default, $60 billion to bolster the nation's infrastructure, $10 billion annually to give students college tuition in exchange for public service, and on and on;
and (b) shifting the tax burden upward: ending the Bush tax cuts on families making more than $250,000 and raising payroll taxes on those same higher-income earners (the latter meant to bolster Social Security without cutting benefits or raising the retirement age). Middle-class earners would receive tax cuts, and low-income seniors would pay no income tax. Combined with a tax rebate as part of this new $50 billion stimulus plan, he argues, putting more money in the hands of middle-class consumers will help them cope with the income squeeze as well as rising energy prices.
Obama also wants to raise a range of other taxes on business and investment. 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."
While Obama insists that "we don't need more heat, we need more light" in Washington, his plans to increase spending and taxes - to "make the most fortunate pay more of their fair share," as he puts it - is certain to generate plenty of heated opposition from business and taxpayer advocates.
(Excerpt) Read more at money.cnn.com ...
It will cost us big time, if he gets elected.
He would make Jimmy Carter’s economic malaise and double digit inflation look like a picnic.
If you think gas and food is expensive now, wait until Obama becomes president.
I have no doubt McCain is going to Schwarzenegger us for sure. Voting for him is going to be painful.
Either way, we need to suck it up and fill the Congress with Republicans again, this time *conservative* Republicans who remember why we’re sending them there. Not going to happen though until 2010 minimum, though I think we’ll wander in the desert longer than that. It could even be 40 years again.
Double-digit unemployment
Double-digit inflation
Double-digit interest rates
Flat to declining GDP
His economic ignorance is breathtaking.
No worries. Before Obama and the Democrats get through with us, we will all be paying our fair share of 110 percent.
“He would make Jimmy Carter’s economic malaise and double digit inflation look like a picnic.”
Yup!
He’ll destroy us economically and usher in pure socialism like we have never seen it before. Oh, terrorists will have a field day with us. He’ll be meeting with them at the WH as we are nuked. My 8 year old has more sense than he has.
Any suggestions on how to protect ourselves and investments from 70% marginal tax rates? Capital gains taxes nearly doubling? Socialization of the health care and energy markets? Massive taxpayer bailouts for housing speculators and reckless financial intuitions? And every other socialist scheme that the democrat controlled congress and democrat controlled white house is going to pass???
“Any suggestions on how to protect ourselves and investments from 70% marginal tax rates? Capital gains taxes nearly doubling? Socialization of the health care and energy markets? Massive taxpayer bailouts for housing speculators and reckless financial intuitions? And every other socialist scheme that the democrat controlled congress and democrat controlled white house is going to pass???”
Simple. VOTE for McCain, and get all your family and friends to vote for him. That is the ONLY way we have a chance to defeat Obama and save ourselves from all you outlined above, which actually represents the tip of the iceberg.
Obama is a clear and present danger to our country, our way of life, and our pocketbooks.
yeah, and the beauty of it is,
tv-viewers will blame “big oil”.
it will never dawn on them that it’s their own democrat party.
If you “go inside the numbers” you will find that:
1. The taxes generated will never meet the projections because the increased taxes will stifle economic activity,
2. The costs of the programs will exceed projections by a factor of 10,
3. Americans’ standard of living will plummet,
4. Carter’s misery index stats will look like the “good old days” in comparison.
This is all insignificant when compared to the national security disasters associated with an Obama regime. The economic impact of simultaneous terrorist attacks on multiple American cities is unimaginable.
Looking at that picture, I’m forced to ask: is this the guy so many stupid women are saying they’ll vote for because he’s “handsome”?
anyone that think’s he’s “handsome” in not only stupid, but blind as well.
I suspect many investors will take their money out of country or sit out 4 years rather than risking their money in a Barak economy.
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