I feel like im the official ET fact checker. A guy could make a full time job out reading only this section correcting all the misinformation. Anyways pabst this is just more of the same (haha I had to)..."Obama is proposing a 28 percent capital gains tax rate. He said in an interview on CNBC that he favors raising the top rate on capital gains from its present 15 percent to 20 percent or more, but no higher than 28 percent. And as for a 28 percent rate, he added, "my guess would be it would be significantly lower than that." Furthermore, he has said only couples making $250,000 or more (or, his policy advisers tell us, singles making more than $200,000) would pay the higher capital gains rate. That means the large majority of persons who pay capital gains taxes would see no increase at all" http://www.factcheck.org/askfactcheck/would_obama_tax_my_profits_if_i.html It's true that a futures trader doing well WOULD see a tax increase under Obama, but since 9 out of 10 arent even profitable, why would they care? Don't even get me started on why we need to raise taxes...
The presidential candidates may be idiots (along with most of the politicians), but those running the country are far stupid.
You're suggesting we're getting the best and the brightest from the Dem party? Please! Both parties are presenting us with lame ass choices and have been for decades. Palins appeal is the "potential" of adding some kitchen table common sense to the mix. Now before you go all blue-blood, intellectual elitist on me, lets take a look at what all these Ive League types have brought us. The common man in the street ain't impressed with them. That's why Palin still has appeal.
I believe Obama is a war monger. Obama has never suggested cutting the military budget an iota and he's MORE hawkish on Afghanistan/Pakistan than even the administration. This Pakistan situation is being largly ignored but The left can try the McSame bullshit all they want but the average voter knows darn well that McCain was one of the most tepid Republicans in the Senate on Iraq. Plus if Iraq is this total injustice why pick Biden who supported the war? It's the Democrats in Congress who're ga-ga over the bailout. It's the rank and file GOP opposing. NO ONE is to "blame" for this crisis. Markets including homes fluctuate. These troubled securities are just de facto Housing longs. Nothing else. As EF Hutton failed from the 1987 crash the LEH's and BSC's and WaMu's failed from the housing crash. As a human being I feel bad for ANYONE who's in pain. As a laissez faire capitalist I could give two fucks. I've heard that around 200 options traders in Chicago blew out last week from the huge moves in stocks, Treasuries and ED (LIBOR). Is the American media crying for them? Nope. Then why cry for a chump losing a house. Too much NANNYISM, too much entitlement, too much faggotism. The biggest single problem America faces is the size of the Federal government. California is broke. Los Angeles is broke and yet the Federal government takes hundreds of billions from California and offers nothing in return that's worth the cost. If the States don't receive rights you're going to see a few succession movements. That's Palin's #1 appeal to me. I can ABSOLUTELY see a scenario where with her immense popularity in Alaska coupled with Alaskans hatred of our tax heavy Federal government that they say âfuck you D.C. We're out of here.â A politician with that mindset is the IDEAL person to lead because the INEVITABILITY is a dismantling of the Federal governments power. It's unsustainable and in that regard I look at someone like Obama's ideas as way, way behind the curve. Being smart doesn't make you deep and he's as shallow as a thimble. The coming collapse in Treasury securities will make this look like a picnic. There's a few smart traders btw who're pricing stocks on the decline and shorting 30yrs with the idea that someday the Treasury could be broke but IBM will keep right on humming and the share price of IBM in worthless fiat currency could be infinity.
Lincoln launched the single worst assault on the Constitution in U.S. history. Protest of the Civil War was punishable by arrest. The actual right of habeas corpus is not stated anywhere in the Constitution or the Bill of Rights. The authors of these documents apparently believed that habeas corpus was such a fundamental liberty that it needed no further guarantee in writing. The only mention of the writ of habeas corpus in the Constitution relates to when it can be taken away from judges. In a section limiting the powers of Congress (Art. I, Sec. 9), the Constitution states: "The privilege of the writ of habeas corpus shall not be suspended, unless when in causes of rebellion or invasion of the public safety may require it." This suspension clause was never activated through the terms of the first 15 presidents. Then during the Civil War, President Lincoln suspended the writ of habeas corpus without consulting Congress. In doing so, Lincoln enabled the military to arrest and imprison thousands of civilians, including Clement L. Vallandigham. Lincolns first order suspending the writ of liberty applied only to Maryland, a border state sympathetic to the South that virtually surrounded Washington, D.C. Shortly after, Lincoln issued this suspension order, Union troops arrested a Maryland man for helping to organize a pro-Confederate militia. Following his arrest, he was imprisoned at Fort McHenry. Trying to gain his freedom, the prisoner appealed to a federal court in Baltimore for a writ of habeas corpus. But when a federal judge issued the writ, the military officers at Fort McHenry refused to obey it. They said Lincolns suspension order made the writ worthless. On September 24, 1862, Lincoln issued a proclamation unprecedented in American history. He suspended the writ of liberty everywhere in the United States. The suspension applied to Confederate spies or to those who aided the rebel cause, interfered with military enlistments, resisted the draft, or were "guilty of any disloyal practice." This last offense allowed the military to arrest newspaper editors and speakers critical of the Union war effort. Lincoln further ordered that persons arrested under his proclamation were subject to martial law, which meant they would be tried and punished by military courts. http://www.crf-usa.org/terror/Lincoln.htm
I live my trading life ahead of the curve. Federal budgets are unsustainable. Why, isn't there plenty of money? No. There's not enough money for taxpayers to absorb rising LOCAL costs for education, police and underfunded pensions and then to simultaneously service increased Federal obligations. You can only raise sales taxes and cigarette taxes and property taxes and utility taxes and licenses and fees so much before you tap every last dollar of taxpayer elasticity. Any idea how decreasing property values are impacting municipalities as they reassess property taxes lower? It's a HUGE problem. Cities are broke and states-many of whom have laws restricting the issuance of debt-are struggling for revenue sources. Meanwhile the Democrat's plan to raise FEDERAL taxes. Learn how to build a bomb guys....
Hold on. Using that haughty tone you seem to think you've proven you are actually a successful trader. From what I've seen you mostly hang around making several thousand of posts and demonstrate an astounding lack of understanding of the general economy and the ramifications of political decisions of the past on the present and future. You can try to look down on me for needing to build capital on a longer term basis, but don't think running me down gives you cachet on an anonymous message board. I thought being honest about things showed character, but you do think Obama isn't lying his ass off and has character, so I suppose I shouldn't expect much from you. I really hope you have made it you've been at it a long time as well. JIM
reading this thread from the beginning till the end really helped me sort out the idiots on this forum. Now, I know whom to watch out for when taking in stock advice. More posts are more hilarious than Palin's non-answers...LOL