Quote from Pa(b)st Prime:
Clearly the market swung the election. Six weeks ago McCain was ahead. Just shows how deceived by the left media our middle-class truly is. Has it never occurred to them that the corporate and capital gains tax hikes advocated by Obama and the Democrats have accentuated their losses? McCain is a simply clueless debater.
Obama:, "Now, Senator McCain, the centerpiece of his economic proposal is to provide $200 billion in additional tax breaks to some of the wealthiest corporations in America. Exxon Mobil, and other oil companies, for example, would get an additional $4 billion in tax breaks." Or later, "Then Exxon Mobil, which made $12 billion, record profits, over the last several quarters, they can afford to pay a little more so that ordinary families who are hurting out there -- they're trying to figure out how they're going to afford food, how they're going to save for their kids' college education, they need a break.
Facts: Exxon paid out 8 billion in dividends to shareholders. Those shareholders are American 401k's. The California public employees retirement funds largest holding? Exxon!
Exxon pays more taxes than the bottom 50% of filers combined.
Corporate tax increases are passed on to the consumer.
Exxon globally paid 49% of revenue in taxes!!
Hence XOM is trading at 9 times earnings.
Here's another example of why Obama is unfit to deal with a new economic world. SCHIEFFER's question is this: the U.S. spends more per capita than any other country on education. Yet, by every international measurement, in math and science competence, from kindergarten through the 12th grade, we trail most of the countries of the world....etc....
Obama: "Now, typically, what's happened is that there's been a debate between more money or reform, and I think we need both.
In some cases, we are going to have to invest. Early childhood education, which closes the achievement gap, so that every child is prepared for school, every dollar we invest in that, we end up getting huge benefits with improved reading scores, reduced dropout rates, reduced delinquency rates.
I think it's going to be critically important for us to recruit a generation of new teachers, an army of new teachers, especially in math and science, give them higher pay, give them more professional development and support in exchange for higher standards and accountability."
Now if I were to say to any rational business person, "we're outspending everyone else and our results suck" would any competent manager answer back, "then SPEND MORE" or would they say, "gee how are these other nations achieving with less? Can we emulate their model"? The Democrats are OWNED by government workers. And as I posted yesterday as of this year the average public wage is 50% higher hourly than private wages. Obama is a TOOL for big government and and ENEMY of private sector employed tax payers. He's completely out of touch with the emerging devaluation of government debt.
