Lousy Asian close + Europe dropping because of Obammi?

S

stock_trad3r

Hong Kong and Japan gave up its gains. European markets are falling hard. I suspect this has to to with the prospects of Obammi raising taxes, which would hurt the economy. I guarantee Obammi will not raise taxes because that would be a disastrous political move.

Geither messed up by even hinting at tax hikes. whooops
 
Democrats not raising taxes? You're a fool! I suppose you don't think they're going to increase spending also, huh? Were you born yesterday?
 
If I had to wager Obammi won't raise taxes. Too savvy. This rhetoric was a just a trial balloon which was shot down by the media. As deficits....they don't matter. USA cant ever default.

Quote from sekyst1974:

Basically, Obama robbed Peter to pay Paul. He basically took money from the United States to pay the investment banks and car-makers.

Paul got payed off, but what about Peter? Peter needs to be payed back somehow. If Peter does not get paid back, then the Chinese will start bailing on their bond investments.

So who gets it in the end? The American taxpayer. Obama must raise taxes eventually and that will probably be sooner then later. Not just a casual tax increase, but across the board in many different areas.

While the employees at Goldman and JPMorgan enjoy nice bonuses, the Joe the plumber gets his tax bill raised. Hopefully Joe took advantage of the cash for clunkers program. While many of the Goldman traders ride away in the latest Maseratis, Joe drives off in his brand new Mazda3 with zero percent financing.

Hey at least Joe got a new car today...but eventually he will pay for it through increased rates.

Higher tax rates must be done. There is no other way to help pay the loans and maintain the debt.
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