Posted on 03/05/2009 8:00:34 AM PST by 101viking
There are at least two pretty effective ways to turn someone into a Republican: (1) get them married with kids and (2) get them to invest in the stock market. So, if I were a highly paid Democratic political strategist, I would make sure to spend a few minutes every day thinking of ways to get Americans out of the stock market—the faster, the better. And that's why if Barack Obama is elected president next week, 2009 may well bring a concerted and all-out effort by the Obama administration and a Democratically dominated Congress to turn the generally pro-Republican Investor Class into an endangered class by, among other tactics, raising investment taxes and ending the tax preferences for 401(k)'s, IRAs, and other retirement accounts. Here is the emerging battle plan for Operation Investor Class Rollback:
excerpt read more at:
(Excerpt) Read more at usnews.com ...
“Why Democrats Will Target the Investor Class in 2009”
This should read “Why Democrats will target U.S. citizens in 2009”.. Directly or indirectly, we are all impacted by these loses.
Neat article, and written a month before the election.. Don’t worry Obama , we Republicans with Children are one step ahead of you, we now have our investments buried in tin cans at undisclosed locations, you commie pig.
Barack Obama released his tax returns since 2000 last night, and we learned something interesting about Barack and Michelle. They have next to no stake in the investor class.
Here's what they reported in qualified dividends per year, and the implied taxable portfolio holdings from them (assuming a 3% dividend yield):
2006: $1188 ($39,204 in implied holdings with an AGI of $983,826)
2005: $2754 ($90,882 in implied holdings with an AGI of $1.65 million)
2004: $0 ($0)
2003: $0 ($0)
2002: $0 ($0)
2001: $0 ($0)
Surely, you might protest, Obama simply held securites that issued no dividends until 2005 (unlikely), or he held all his investments in IRAs, 401(k)s, annuities, etc. (more likely). That's belied by two observations:
1. Michelle Obama earned a quite lucrative annual self-employment contract from the University of Chicago Hospital System (in some years, approaching $1 million). Yet, Mrs. Obama didn't appear to have a self-employed 401(k) plan or a SEP-IRA to make retirement contributions from. This implies that the Obamas are not exactly the best tax-deferred investors in the world.
2. In 2000, the Obamas cashed out $6260 from either a DB pension or a 401(k) plan. This is a sure sign of a household that does not build and accumulate a nest egg for their future.
Why is Barack Obama so hell-bent on pursuing policies that would wreck America's retirement savings? Because, by and large, he doesn't have any skin in the game.
(About ASA: "The American Shareholders Association represents the 50% of households and 70% of voters who own shares of stocks, bonds, mutual funds, and ETFs. These shareholders are the rank and file of the "new investor class." They hold their investments in 401(k) plans, IRAs, taxable brokerage accounts, and other vehicles.What unites all these investors is a desire to see public policies that encourage growth and discourage economic contraction. ASA was founded to represent shareholders in their quest to grow the economy, reward risk, and increase the value of everyone's nest egg.)"
“Neat article”
I agree. A succinct explanation of why Obamachev is killing the stock market.
It has been my belief all along that the Democrats are sabotaging the economy for political gain. It’s hard for non political people to envision a plot so diabolical as to destroy trillions in wealth and cause such long term misery.
I have no problem believing it though.
Yeah, piss off the baby boomers. They’re only the largest voting demographic, that’s all.
As Rush says, Baraq is waging war on capitalism.
And nobody should be surprised.
(only the dumbf*cks on Wall St who thought people making 50 grand a year could buy a half million dollar home are surprised, LOL)
This isn’t like the Clinton’s bait and switch.
Obama is doing exactly what his history would imply he would do.
And the guy is facilitated by having leftist wackos Pelosi & Reid running Congress.
Someone must have known what the criminals had up their sleeves, and chose to tell it in a “What I would do” format.
Damn evil and they should be prosecuted.
the “investor class” - that would be me, for I rolled my 401 over to an IRA with a somewhat large part still controlled by S&P. Over the years, I carefully grew the 401 to supplement my Social Security and small pension. Since the year 2000 until now, I have lost half. Everyone told us to ride it out, it will turn around, and we, like dummies, listened and let it ride.
Of the losers in today’s crisis is a group you never hear about, a group of which Congress and the WH seem to have no concern, and that is the huge number of seniors sitting in the same boat. As a group, we are suffering far more than these other institutions and groups of people who make the headlines - we, the silent seniors.
so don’t be silent, make some noise for our country.
And a completely limp yellow dog press and media running behind him.
My in-laws are (were!) pretty wealthy, until now. My FIL made $300K+ per year for a while, until he retired last year. They had a lot of bank stock unfortunately (although they did sell some last year, luckily), as he worked for a bank. They are careful and quite frugal and never got into any debt.
They have some properties, boat, horses etc that they could sell, but now is just not the time to try to sell anything.
I asked my MIL how this recession compares to those of the 70s etc and she said this is much worse for them, as my FIL never was laid off through any recession.
So my FIL went back to work last month.
I’m sad for them. He should be enjoying his well-earned retirement.
(He votes GOP, my MIL votes Dem, so they “cancel each other out.”)
I know “silent seniors” who voted for Obama....who are living on their “investments.” They probably aren’t talking to me right now....I sent an “I told ya so” (my first ever) letter to friends and family last week....and my husband and I aren’t that far away from retirement....so you can imagine what’s happened to us, like you. Hang in there.
The list could go on and on...
That saying is racist, but only if applied to an African-American President.
/DU level of race-baiting idiocy
Seriously, yours was a good post.
just did - #9
but at four score and more, not too many tools to use!!
some of those “silent seniors” use the AARP as their Bible - hopefully they soon realize they have been “had.”
The ones I’m talking about use NPR....as their PRIME media source. LOL...trying not to cry.
The point is to piss off the Baby Boomers and blame it on Bush and Wall Street - a tactic that is so far quite successful.
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