Discussion in 'Economics' started by Cdntrader, Aug 17, 2010.
Cool. Like a liberal blight spreading across America originating from the liberal strong holds.
They should add a new color for over 15% . . . . and then another for over 20%.
We'd all better get used to it. Congress doesn't have the political will to do what is necessary to reverse this trend...
It amazes me how you guys started it, but blame it on the left. You actually have the majority of the country believing Obama was the one who got the TARP through.
Good job of lying. A lie is still a lie though, any way you slice it.
Tarp was horrible but porkulus obamacare, tax increases, repeal of tax cuts and the fear of cap and trade is far more responsible for the lack of a rebound.
There is no confidence or expectation of a future robust business environment we socialists wish to tax everything that breathes. Without people betting on a profitable future.... we will need a deeper recession to clear out of the mis allocation of resources caused by misguided and corrupt politicians.
This was an edit but I clicked on new post by mistake.
You want a bright future... go to a 11% flat tax. Obama would go from the most hated to the most admired president in history.
What exactly are us socialists taxing? I'd love to see a list, because so far, I haven't seen a single tax I pay go up, other than my property taxes, which go up every year under a rigid Republican administration of my county and town.
have you heard about cap and trade?
have you heard about the expiration of tax cuts.
have you read about the hidden taxes in Obamacare?
would you expect more investment or less investment in that environment?
1 - Cap and trade didn't pass.
2 - Expiration of the Bush tax cuts was known ten years ago, when it was passed. Obama was elected in Nov of 2008, amidst the worst financial crisis since the Great Depression. If you didn't know it was coming ten years ago, you should surely have known it at that time.
And if you haven't got the message and planned for it by now, well, something is wrong with you or your tax accountant.
Also, this actually hasn't happened yet. So, no one is, as of right now, paying one single dime more in Federal tax. My point stands: I'm not paying anything more for anything other than my property tax.
3 - Obamacare, as you style it, must have very hidden taxes indeed, because no one I know is paying one thin dime more for anything, including their health insurance, because of it.
None of this is even remotely extraordinary. Marginal tax rates were 90% under Eisenhower. If the Bush tax cuts expire completely, the top rate will amount to all of 39.8%, and that only for the very very top of the ladder.
If you have >250k in taxable income, not gross income, taxable income, then you have quite a bit more than that in gross income. Which means you can afford someone who can minimize that tax burden in all kinds of ways. Taking just one example, the SEP-IRA would allow you to sequester around 50k of that income from taxes.
So, you're not talking about a typical small business owner, such as the guy who cuts your hair or your lawn, or the guy who owns the diner or the dry cleaner or the candy store or the liquor store (well, maybe the liquor store) or maybe even your local dentist or doctor, depending on where you live. You are talking about the guy who owns the Mcdonald's franchise, probably, but if he's reporting 250k, it's because he's making 500k. So what looks like a 39.8% rate is really half that. And he ain't hiring one less burger flipper because the Bush tax cuts are expiring and he might have to pay, amortized to that burger flipper, 50 bucks more in Federal tax. Not when his local property tax went up by well more than that because of the big drop in real estate values in the town that franchise operates in.
In real life, this stuff makes for good political theater, but it has zip to do with anyone's decision to do or not do something.
Have you looked at the Russell 2000? Are you aware it's beating the pants off the SP500? If uncertainty were really causing all that much economic damage, why would the Russell 2000 be doing so well?