So is Obama planning on rasing taxes?

T

The Kin2

Anyone have a breakdown on how bad the damage might be? Call me naive, but I think the current rhetoric is geared toward Democrats' votes.

He seems like a reasonably intelligent man, and once elected into President he may move to the center, which would be the right thing to do.

I really want Bloomberg to be his Veep. Bloomberg is a good business man which should balance Obama out. If he picks a douche like Edwards though, then I'm voting for Nader.

I honestly don't think Obama is as liberal as Hillary. Hillary would put another line items on payroll taxes to pay for health insurance. Then nationalize Exxon Mobile's profits to pay for all her other zany ideas. I honestly truly don't think Obama will be remembered as a tax and spend liberal, if elected. Intelligent people understand economics, and the harm high taxes can generate on capitalism. He also wants to end the War in Iraq which right there would free up a hundred plus billion a year.

Maybe I'm just giving the guy too much credit.

Anyway, any material on his tax proposals would be appreciated.
 
obama is less qualified to be president than I am .. who the f*ck knows what he'll *try* to do

he does have the "feel good about yourself ... vote for the black guy" thing going for him though ...

it's funny, I listen to all these blacks who are joyous at the prospect of a black president .. these f*cking people can't maintain a legitimate public school system, or a library sytem, or a fricking daycare center for that matter, let along the United States ...

...

I may follow Aleck Baldwin and move to Canada soon ...
 
Back in September of 07 Obama was quoted as saying that he would let the Bush tax cuts expire and raise the long term cap gains to 28%, which is 8% higher than it was when Bush cut it. I don't remember his plans for other taxes, but that is enough to make him the worst candidate of the 3.
 
First of all, Obama is THE most liberal senator in the country. Period. This is based on his voting record. Its not just opinion. (Source: National Journal, which is non partisan. Not to be confused with the National Review).

He wants to raise taxes across the board for anyone making decent money, and then he wants to blow it on a whole slew of social programs. With a very democratic Congress behind him, it would get ugly.

The scariest thing he wants to do is the cap gains thing. Planning to almost double them! This alone will crash stocks. It will be a disaster for me as well as I am a futures trader so it will dramatically raise my taxes. Obama is very smart, but he doesn't give a damn about Wall St., and I'm not so sure he knows a whole lot about econ.

Go McCain!
 
Quote from Jayford:

Go McCain!
More...

McCain's already voted against the Bush tax cuts, and the dems are sure to hold both houses. No matter who wins the White House, we're taking it from behind. If you are a "winner in life's lottery" aka "rich" (meaning you work for a living), you'll be paying more of "your fair share".

Go long JNJ (makers of Vaseline). Then buy a case and lube up!
 
Quote from Jayford:

First of all, Obama is THE most liberal senator in the country. Period. This is based on his voting record. Its not just opinion. (Source: National Journal, which is non partisan. Not to be confused with the National Review).

He wants to raise taxes across the board for anyone making decent money, and then he wants to blow it on a whole slew of social programs. With a very democratic Congress behind him, it would get ugly.

The scariest thing he wants to do is the cap gains thing. Planning to almost double them! This alone will crash stocks. It will be a disaster for me as well as I am a futures trader so it will dramatically raise my taxes. Obama is very smart, but he doesn't give a damn about Wall St., and I'm not so sure he knows a whole lot about econ.

Go McCain!
More...

I with you man.
 
Quote from TGregg:

McCain's already voted against the Bush tax cuts, and the dems are sure to hold both houses. No matter who wins the White House, we're taking it from behind. If you are a "winner in life's lottery" aka "rich" (meaning you work for a living), you'll be paying more of "your fair share".

Go long JNJ (makers of Vaseline). Then buy a case and lube up!
More...

Yeah, but who would be worse?

BTW, Mac was against the tax cuts cause Bush wouldn't include spending cuts with it. Mac is very much into fiscal responsibility. The guy is NOT my first choice, but given a choice between Obama, Hillary, or Mac, along with a very Dem congress, I take Mac. I really wanted Romney. get a real biz guy in there.
 
Quote from Jayford:


BTW, Mac was against the tax cuts cause Bush wouldn't include spending cuts with it. Mac is very much into fiscal responsibility.
More...

yeah... the guy that wants to bomb iran and continue the war 100 to 1000 yrs is going to cut spending?

where do you people come from?
 
Taxes are going up....bank on it.

With the damage that the Bush admin has done to America's fiscal accounts the conventional wisdom of those who come next regardless of party will be to raise taxes.

Of course all taxes should be cut to the bone....but that won't happen.

Aside: if you haven't already done so....everyone on this board should now do everything in their power to financially immunize themselves from our elected leaders.
 
Quote from ratboy88:

yeah... the guy that wants to bomb iran and continue the war 100 to 1000 yrs is going to cut spending?

where do you people come from?
More...

The vast majority of our spending comes from entitlement programs which are growing out of control.

As I said, Mac is NOT my first choice, but considering the alternatives....

Also, with an over whelming Dem congress, and public sentiment against any new war, the guy won't be able to do much damage.

Every time the guys speaks he talks about fiscal responsibility. He wants to completely eliminate pork for example.

Now lets consider Obama in there doubling Cap gains taxes. Pretty much takes away much of the incentive to hold long term. What do you think would happen to an already wobbly stock market? Can you say 1929? The guy would be a disaster. I personally like the guy, but he'd kill the economy.
 
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