An Obama Panic?

Discussion in 'Congress' started by The Paperboy, Oct 24, 2008.

  1. The Paperboy
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    The Paperboy Times Square

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    While the polls are reflecting Obama's steady hand, the markets haven't. In fact, they're getting worse by the day as Obama's lead widens. Most investors know the devil is in the details - and the details of Obama's economic plans are anything but reassuring.

    Full story here
     
  2. DavidS
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    DavidS Anti-Tea Party Member

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    Of course. As I mentioned in my other thread, the Republicans are trying to use scare tactics to get you to vote for their candidate. The market was down for that entire week because of a credit freeze. We have the worst housing crisis in almost a century, the credit market is STILL frozen from bank to lender, we have fears of a global recession and the Republicans want you to believe that Obama's 5% tax increase for dividends (net profit) on stocks is the reason why they're going lower.

    Question: What President lowered the capital gains tax from 25% to 20%?
    Answer: Reagan.

    The stock market doubled in his term.

    Question: What President lowered capital gains from 20% to 15%?
    Answer: Bush.

    The stock market is lower today then when Bush took office. The market has completely lost ALL of its value from the past 7 years.

    Not since Herbert Hoover has any stock market lost value in the time of presidency.

    Under Bill Clinton, the stock market increased 300%. The Capital Gains tax was 20% during this time.

    Any assertion that Obama's tax policies will "hurt" the rich is complete BULLSHIT.
     
  3. The Paperboy
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    The Paperboy Times Square

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    Nice spin. Too bad it it is universally acknowledged that the culprit in this story is the Community Reinvestment Act enacted by Carter and expanded by Clinton and fueled by Fannie and Freddie which were protected by Barney, Dood and Obama.

    Clinton was nothing but a bystander of the Reagan policies and the Tech boom. Even so Clintom left office with the country in recession and emboldened terrorists waiting to strike.
     
    Last edited: Oct 24, 2008
  4. KMAN
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    KMAN Senior Member

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  5. PeterS
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    PeterS Active Member

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    "Recently, Obama said he wants to expedite loans to small businesses, so he seems to have a clue that they produce much of the country's job growth. Yet his income-tax hike on upper brackets will hit vast numbers of small businesses - they'd face the highest rates they've seen in decades"

    Only two percent of US small businesses have taxable incomes of 250K or more and the taxes Obama is proposing is similar to Clintons...that's hardly decades. Do you really expect us to believe that investors are so idiotic that they cannot figure that out for themselves so are panicking at the thought of Obama? Get real...
     
  6. DavidS
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    DavidS Anti-Tea Party Member

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    KMAN is the new paperboy. The New York Post is about as reputable as the Weekly World News.
     
  7. rayboyusmc
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    rayboyusmc Senior Member

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    The middle class and small businesses are the real engines that drive our economic success.

    McCain doesn't get that. Obama does.

    Fuck trickle down.
     
  8. Toro
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    Toro Diamond Member

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    I'm an investor. I work for a large institution. I talk to Wall Street every day. I can tell you that when I talk to people who are involved in the market about the melt-down in stocks, Obama is not mentioned. Ever.

    This has to do with massive de-leveraging in the financial system and worries about a global recession, not about the Presidential election.
     
  9. DavidS
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    DavidS Anti-Tea Party Member

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    Trickle down has worked so well! Just look the economy, Rayboy!
     
  10. DavidS
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    DavidS Anti-Tea Party Member

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    *sigh*

    You're so narrow minded. If you had one iota of knowledge about investing, you would be a lot more intelligent.

    5% tax increase on basically 2% of Americans meanwhile there are millions who have $50,000 or $100,000 invested in the market who are losing money and pulling out because of the recession. The recession was caused A: By the housing bubble popping, B: By the creation and popping of the oil bubble, C: By the creation and popping of the emerging market bubble and D: By fear of the recession getting worse. The stock market has absolutely NOTHING to do with Obama or McCain.

    Remember, McCain was leading by double digits when the stock market began to crash.
     

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