Posted on 11/04/2008 7:17:47 PM PST by Republican Extremist
As it appears that Obama has won this election, following Fox News calling both Ohio and PA for him, I think it is now time for the businessmen and women who run this country to make it quite clear what the consequences are to those people who sold out their freedom for empty promises.
Small business owners, your taxes are now going to be raised. You now will face the difficult choice of either cutting your costs by laying people off, or by passing the increased costs of taxation on to your customers. This time I want you to take the time to tell that laid off employee exactly why he has lost his job. Tell him that the Obama tax increase has forced you to take his salary and give it to "the middle class". If he protests that he is part of the middle class, then explain that he should make good use of the $500 he sold his vote for, because it cost him his job.
For the manufacturers: When you move your production facilities overseas because the US has the second highest corporate income taxes in the world, make sure your workers understand that their Union is mostly to blame, and they should go talk to them about why it was a good idea to vote for the guy who would make all union votes public.
For your customers: Explain that the price of your product has gone up because of your taxes being increased, and because the rising price of oil from keeping the caribou happy has forced you to charge them more. Tell them you tried inflating your tires, but unfortunately it did not put any more gasoline in your tank.
Consumers: When you go shopping, and are considering buying a high ticket item, when you change your mind, make sure that they know that if you had only kep that extra 3% of your salary.... the "chump change", you could have bought their item.
In short: It is time for us all to become John Galt.
Make them understand that capitalism requires capital, and unfortunately Obama gave the capital you needed to somebody who was more deserving than them.
Ask them how it feels to be "rich".
Tell them that you are sure they will be OK, because Obama told them it would be so.
Ask them how they are enjoying their "Change", and if they have any more "Hope" for the future.
Add me please.
First of all, I need to be careful what I say.
Because I am a Registered Representative, I cannot recommend specific things (products) nor give specific investment advice over the internet, as I am regulated by the SEC.
This keeps people from rumor-mongering on investment boards while going short the stocks, etc... I can advise you in private, if you want my specific opinions about your personal situation.
Having said that, on your first question:
* As a money manager, do you feel apprehensive about the socialist agenda, stated and implied, that has swept into power as far as the safety of mutual funds?
Yes, the entire market has been apprehensive about an Obama victory, and you have seen that reflected in the large swings in the market and high volatility. In other words, we have seen this coming, and a lot of it may already be priced into the markets already. Markets hate uncertainty, so you may actually see the markets go UP because we now do not have that uncertainty any more. Your underlying funds are only as safe as the investments inside them, however, and they will react to outside factors like capital gains taxes immediately. A large number of people may now sell in 2008 to avoid a potentially higher capital gains rate later on, for instance.
Next:
* Do you think transferring our savings and IRAs to a Galt Fund is a better idea than cashing everything out NOW and sinking those dollars into tangible assets?
No, I do not.
First of all, we have not yet invented "The Galt Fund", so that is not an option.... at this time. Secondly, our goal is not to take our money out of capitalism, but to use capitalism (our capital) to either punish the Obama Socialist Beast and it's supporters by starving it, or by eventually using our money to actually take over these problem companies or industries.
We do not win by buying gold (although gold may go up in value, as all commodities probably will, I am speaking of "the cause", not the individual). That is retreat from capitalism. We win by using capital as a political and economic tool to send a message, and convert the minds of the people who have drank the socialist Kool-Aide.
For example: One way we can "starve the beast" and probably help ourselves at the same time, is to invest in tax free municipal bonds, so your tax dollars won't fund the Obama Treasury. State Muncipal Bonds are not federally taxed, but may be taxed at the state level. I live in Florida, where there is no state tax, so I would pay no taxes at all on them, except possibly the Alternative Minimum Tax... but I'm probably getting way too complicated here. The added benefit to you is that if you have a tax rate that will be rising, these bonds will benefit you more later on.
We can also purchase municipals in a "Galt Fund" or a "Reardon Fund" or a "Dagny Fund" (all characters in the book, for those who have not yet read it...) Only in Red States..... thus starving the blue states of capital, or making them pay higher rates of return in their bonds to attract it.
Next:
* Are you worried that the fedguv would feel they had the blessing of the people to "spread the wealth" and would feel they now had the moral authority to seize people's retirement accounts and savings accounts to share with those who have not saved as much as we have?
Yes, and they are discussing that in Congress as recently as the the last week they were in session.
There are things (all legal...) you can do to make that difficult for them to do, but I cannot get into specifics on the net, because you may live in a state where I am not licensed to give you advice, and I would never give specific advice without speaking with you first.
Next:
We have scrimped and saved and gone without and sacrificed for a decade to get to where we are now financially, and I am NOT going to let some commie bass-turds take our hard-earned savings to give to some degenerates who have spent every nickel they get on booze and bling. I really would like to hear your opinion on this.
Unfortunately, if you want specifics on what you should do personally, you are going to need to shoot me a PM with your phone number, and I would be happy to talk to you, or anyone else about their own plans for the future, and how the Obama victory/America defeat may affect you.
Again, I cannot give specific advice over the internet, or even in an e-mail. The Securities and Exchange Commission regulates us strictly. If, or when you contact me, I need to know what state you live in so that I can determine if I am licensed in that particular state.
What I can tell you about myself personally, is that I have been a Freeper since 1998. I have been a licensed Reg Rep since 1988, so this isn't my first rodeo. ;)
Will someone please tell me how the Govt has the right to take steal 401k accounts? Where can I find more info on this?
I’m serious about it. I have been President of a modestly sized member-based nonprofit, and have extensive professional experience in database marketing. I would be happy to help develop a marketing and publicity strategy, as well as assist with the rating criteria/algorithm by which we would score companies.
I honestly don’t think the Democrats are that stupid. I could see them phasing out the deduction based on income. If they do away with the deduction (and Roth IRAs), I think I’ll start investing in antique cars. I have two Chevys (63 and 64). I saw in an investment magazines that muscle cars were second only to art as investments over the last 20 or so years.
Put me on you list. NC was almost a red state.
Excuse me, but the socons lost last night as well
There are those of us that would never purchase economic security with the blood of the unborn (as my good catholic friend thinks she just did, berating me for my selfishness and inattention to the poor along the way.)
There are still some principles that trump economic interest, as our founding fathers knew. I hope we as a country will realize that.
“I honestly don’t think the Democrats are that stupid. I could see them phasing out the deduction based on income. If they do away with the deduction (and Roth IRAs), I think I’ll start investing in antique cars. I have two Chevys (63 and 64). I saw in an investment magazines that muscle cars were second only to art as investments over the last 20 or so years.”
I think guns are a great investment. Every gun I own has gone up in value over time.
This would be a good start. My state has flipped from red to blue from top to bottom. And so I have little interest in purchasing it's bonds. But bonds from places like TX or SC might be very tempting.
I'm with you 100%. We shut our construction business down 9 months ago with plenty of work on the books. It wasn't worth it any more. I'm living proof that it can be done.
I have already told my entire family that we will never set foot again in New Mexico or Colorado. I am sure the earth worshipers living there will be happy to hear that but we will drive around them to Wyoming or Utah and drop our couple grand on a vacation where we share common political ground. Same goes for North Carolina. We will stay on the Tennessee side of the Smokies when we return next year.
But hers was a modest proposal. House Democrats recently invited Teresa Ghilarducci, a professor at the New School of Social Research, to testify before theHouse Ways and Means Committee’s Subcommittee on Income Security and Family Support on her idea to eliminate the preferential tax treatment of the popular retirement plans. In place of 401(k) plans, she would have workers transfer their dough into government-created "guaranteed retirement accounts" for every worker. The government would deposit $600 (inflation indexed) every year into the GRAs. Each worker would also have to save 5 percent of pay into the accounts, to which the government would pay a measly 3 percent return. Rep. Jim McDermott, a Democrat from Washington and chairman of the Subcommittee on Income Security and Family Support, said that since "the savings rate isn’t going up for the investment of $80 billion [in 401(k) tax breaks], we have to start to think about whether or not we want to continue to invest that $80 billion for a policy that’s not generating what we now say it should."
There is currently $4.5 Trillion dollars invested within 401(k) plans in the United States, the transfer of this wealth to the government would cause the collapse of an entire industry of financial and accounting companies that have been built upon the Retirement Savings Industry. This would be the largest loss of wealth and seizure of private assets in world history. And right now they are talking about how to do it.
I think I'll cancel my subscription to Netflix. I don't want to support Hollywood in any way shape or form.
When I get charity beggar mail, I plan to mail them back with a note attached, "Get Obama to give you the money."
No more buying school candy for their fund raisers. I will tell them (not the kids, the parents) that now that Obama is elected, you all should not have to have fund raisers as he will have plenty of money to help you out.
Please add me to your ping list.
I would love to see such a list compiled then posted on FR. Then all of us, whether or not we own businesses, could play a small part in bringing these companies down.
Excellent ideas. I'm getting a little excited about this. I'm not a small business owner and I don't make a lot of money, but I can shrug too.
No, don't go by states. Don't penalize, for instance, the majority of California because San Francisco and Los Angeles are deranged. Go by company if at all possible.
I have to disagree with you. Go to Colorado -- just avoid Denver, Boulder, Telluride, and Aspen. Don't penalize places like Colorado Springs, one of the most conservative cities in the country, because there are some left-wing enclaves in Colorado.
Let's not paint with such a broad brush. We don't want to hurt our own. Let's penalize specific cities and companies.
My sister has grown tired of nursing as well. She spends about 85% of her time doing CYA paper work to keep the hospital out of court. Very little time is spent actually attending to patients. She is roped into that work until her kids finish college.
In 1999 I found an S&W 686+ w/4 inch barrel on sale for $437 in an El Cajon gun shop. The MSRP today is $999. That one has thousands of rounds down the barrel, so it isn't even close to an NIB price. Not so with most of my other purchases. They have appreciated and each has inherent value and utility. Not just some expensive bling in a box.
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