I don't always agree with Cramer, but in saying that Obama must back down with some of his plans to appease the market, I agreed. He accused Obama of "Government mandated wealth destruction". One of the things he also mentioned, if admin continues with what he called 'semi-socialist' ways, was a social revolt. Maybe if this happens, O won't make it thru first term. I don't think that the US will wait for the next election to vote in some republicans to get some balance in congress. It didn't actually hit me until I saw Obama speaking with Biden and Pelosi smirking behind him, as majority heads, during his address. The market is just pointing out the obvious: we're screwed.
Wow. Increasing the marginal tax rates is inspiration for assassination. Again, this is so over the top I don't know if you guys are serious or just blowing off steam. So let me get this straight. We had a republican president the last 8 years. Things were not so good towards the end for him. However according to you all we should have elected another republican so the markets would not be tanking right now. I say this with the fullest sincerity in my heart, the markets would be tanking if John McCain was president right now as well. This is no longer about political ideology. Bush was as pro market as a republican can be, why did the markets tank under him then? I guess per you all it takes a republican to fix another republican's mess. Something has happened to Jim Cramer with all the communism, lenin, politburo crap he is spewing lately. I think he was an ex Hillary supporter.
To me this is not about politics per se. I don't think there is an economist alive that would say the best course of action in this economy right now would be to raise taxes so aggressively. MARGINAL? It seems like almost daily we are hearing of how they are considering ways to raise/add taxes/eliminate deductions etc... Regardless of political affiliation, you will see that noone is happy with direction. Obama 'approval rate' plummeting, and that is not amongst Republicans who were not in the 'approval' category. Economy cannot move forward without market advancing. Cutting corporate taxes and lowering cap gains is only solution, but will never happen.
okay, the tax cuts are in the form of the sun setting of the bush tax cuts as of now NOTHING has changed. You all are just trying to explain the market to your dislike of Obama and anything that is not trickel down. Again, we had Bush up until January, why did the markets tank under him. The issue is the banking system is broken not Barack Obama's 1.5 months in office
Oh and when do you conservatives ever say anything other than cutting cap gains & corporate taxes is the answer. For Gods sake we have had that the last 8 years and the economy still collapsed.
Cramer will never have my respect. he's a fucking loser that doesn't have a clue about what's going on. more people lose money listening to him and giving him an audience than crazy people do listening to the voices in their heads. he's a complete hack and i truly wish they would take him off the air. Cancell CNBC should be on Obama's plan.
my friend came up with a good idea to fix the economy. his stimulus plan: no federal taxes for 1 year. People will work like fucking crazy since they know they have 1 year to take advantage of it, they'll make more money, automatically their income increases substantially with no fed tax so they'll spend more money, business will immediately be impacted and grow. you do that and we'll be out of this mess real fast. I love the idea.
Like the good man said "The richest one percent of this country owns half our country's wealth, five trillion dollars." I'm not saying that they can turn it around, but it can't hurt. My buddies plan is the best i've heard yet. No fed taxes for anyone for a year.