Obama Declares War on Investors, Entrepreneurs, Businesses, And More

[TLSnell1981]

Don't most charities get some form of government grants and private foundation funding/grants. While that certainly doesn't negate the need for private cash donations, it doesn't mean that this loss of write-off donations will spell certain doom.

I know, of several very worthy charities that operate on private donations. They do an incredible amount of good in the city and surrounding areas. The recession is already hurting them. The loss of deductions not only increases taxes, but reduces charitable donations. Charities are always one of the biggest losers.

I've worked with some of these charities. It will be devastating if they can't operate. I can't imagine what will happen. The government can't pick up the slack. They can only squeeze so much from the taxpayers. Eventually, they're going to run out "rich" people.

 

[JennaTX]

So we should just not approve anything that Obama is doing and continue on the path we have been on for the last few years.

Problem solved, let's continue on with the same policies. Obama should just continue what GWB's policies were and all will be right with America!

 

[Charade]

So we should just not approve anything that Obama is doing and continue on the path we have been on for the last few years.

Problem solved, let's continue on with the same policies. Obama should just continue what GWB's policies were and all will be right with America!

Only if we disagree with it's effectiveness.

 

[ntsammy5]

Only if we disagree with it's effectiveness.

Oh, I think Bush's efforts were effective - he did a pretty good job on the economy - please give us more!!!!!!!

BTW I don't like Obama's approach, but at least he'll fail in a different way - might be entertaining.

 

[Laugh O. Grams]

This was ONE factor in their decision. You don't understand? Their costs are going up, their biggest client won't be buying.....throw in the tax increase..Is it worth the time, capital risked, etc.?

Many companies will be eliminating jobs, reducing benefits, raising prices, etc. They have to make the money up somewhere.

And, the charities... who do not rely on government funding? Many good programs will be gone...bye bye.

Oh, I understand completely. She stated that her husband was going to turn away all business over $250K because of an additional 3-4% tax implication. The second and third reasons you highlighted have nothing to do with that. As a matter of fact, she claims that he doesn't want any extra business, then seems to be complaining that business is slow. It's silly and reads like a disjointed list of Conservative talking points and hyperbole. This business owner, and GSA vendor, calls BS and isn't buying it. Sorry.

 

[crazyforgoofy]

Oh, I understand completely. She stated that her husband was going to turn away all business over $250K because of an additional 3-4% tax implication. The second and third reasons you highlighted have nothing to do with that. As a matter of fact, she claims that he doesn't want any extra business, then seems to be complaining that business is slow. It's silly and reads like a disjointed list of Conservative talking points and hyperbole. This business owner, and GSA vendor, calls BS and isn't buying it. Sorry.

Laugh's BS meter! Still sniffing out nonsense and telling it like it is.

and fyi for anyone who's not clear:

loose = floppy

lose = disappear

 

[Laugh O. Grams]

Laugh's BS meter! Still sniffing out nonsense and telling it like it is.

and fyi for anyone who's not clear:

loose = floppy

lose = disappear

 

[DawnCt1]

Oh, I think Bush's efforts were effective - he did a pretty good job on the economy - please give us more!!!!!!!

BTW I don't like Obama's approach, but at least he'll fail in a different way - might be entertaining.

Actually Bush's efforts were very effective. He lowered capital gains, tax rates for everyone, and he brought this country out of the Clinton recession and the financial hit we took after 9/11. That is indisputable. We also know that Reagan's efforts were very effective, which is why Obama never mentions the Carter recession; he would have to acknowledge that Reagan's tax cuts worked. Raising taxes on the producers never works. Rewarding "liar mortgages" will not work. Those who used their homes as an ATM machine will do it again. There are people who are deliberating not paying mortgages because they are waiting for a bailout. There is nothing entertaining about the Dow going back to what it was 12 years ago. I certainly don't find it amusing, and 9,000 earmarks?

 

[IDoDis]

Only if we disagree with it's effectiveness.

What exactly have you agreed with so far?

Actually Bush's efforts were very effective. He lowered capital gains, tax rates for everyone, and he brought this country out of the Clinton recession and the financial hit we took after 9/11. That is indisputable. We also know that Reagan's efforts were very effective, which is why Obama never mentions the Carter recession; he would have to acknowledge that Reagan's tax cuts worked. Raising taxes on the producers never works. Rewarding "liar mortgages" will not work. Those who used their homes as an ATM machine will do it again. There are people who are deliberating not paying mortgages because they are waiting for a bailout. There is nothing entertaining about the Dow going back to what it was 12 years ago. I certainly don't find it amusing, and 9,000 earmarks?

Clinton recession? If my memory serves me correctly, by the time Clinton left office, there was a budget surplus.

 

[Chuck S]

There is nothing entertaining about the Dow going back to what it was 12 years ago.

No one finds it "entertaining". However, this entire crisis certainly did not begin on Obama's inauguration day. It was well underway during the last administration.

Bush's solution was to give the stock market a boost by handing several billion dollars to the banks and investment houses with no restrictions, and many of them promptly gave that money to their CEOs and managers as a gift for a "job well done."

At least Obama's solution includes some oversight. The fact that it isn't just a big CEO bonus package is what the stock market seems to not like. If the stimulus had included "Free Money" for bankers, I doubt their "economists" would be so gloomy, until they wanted more.

 

[DisneyMomOK]

I just saw the Dow below 7000. I am really afraid where this free-fall will end.

 

[DawnCt1]

What exactly have you agreed with so far?



Clinton recession? If my memory serves me correctly, by the time Clinton left office, there was a budget surplus.

Here it is;
Furthermore, it was a projected surplus and its the GDP that is the gauge of a recession, not projected tax revenue.
http://www.nationalreview.com/nrof_luskin/luskin200405050850.asp

 

[Chuck S]

Here it is;
Furthermore, it was a projected surplus and its the GDP that is the gauge of a recession, not projected tax revenue.
http://www.nationalreview.com/nrof_luskin/luskin200405050850.asp

You may want to try to find a more unbiased source than the National Review. Especially if you're going to state something as factual.

That is about the same as quoting Air America or Rush to prove a point.

 

[manning]

Does anyone have a trillion dollars to back the banks up?
Anyone?
The govenment could use it right about now.

Gee where is JP Morgan now?

Oh yeah...I almost forgot it was the JP Morgan company that thought up the "evil" idea of the Credit Default Swaps back in 1997 that started this economic mess we are in now!

Oh well, I guess we can't count on JP Morgan this time around.

I wonder if it was because....Mr. Morgan isn't around anymore.

1997. You mean clinton didn't see it coming and warn us??

 

[DawnCt1]

You may want to try to find a more unbiased source than the National Review. Especially if you're going to state something as factual.

That is about the same as quoting Air America or Rush to prove a point.

You can find the GDP for that time period anywhere if you doubt the credibility of the source.

 

[manning]

I just saw the Dow below 7000. I am really afraid where this free-fall will end.

Sure looks like Wall Street is telling Obama what they think about his stimulus plan.

 

[minnie61650]

I wonder if it was because....Mr. Morgan isn't around anymore.

True .....Mr. Morgan isn't around anymore.
But the company thanks to "our" bank bailout money still is.

Bank History ....1907 vs 2008

1907- JP Morgan 'saves the day' by buying up rival institutions for pennies on the dollar

2008- JP Morgan/Chase ends the day buying up rival institutions for pennies on the dollar using mostly public funds and is the unquestioned largest financial institution in the US.

Link:

https://www.kitcomm.com/archive/index.php?t-29653.html

 

[DawnCt1]

I just saw the Dow below 7000. I am really afraid where this free-fall will end.

I wonder if that is part of the "plan". Collapse the market and we will have to turn to government. Remember the democratic "trial balloon" last fall? "We will restore your 401K to 2008 levels, just invest it in Social Security. "

 

[Chuck S]

You can find the GDP for that time period anywhere if you doubt the credibility of the source.

It isn't the data I doubt, it is the biased interpretation of the data.

 

[DVC Sadie]

So, this explains Hillary's trip to China.

Yep.

I remember when HRC gave the Chinese he11 for their treatment of women and now she has to go, hat in hand and kiss their patooties in order for China to keep lending us money that will not be paid back by our generation.

When China no longer lends us money, what in the world will we do then?