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The purpose of this thread is to provide a place to talk about Obama's policies, not his affiliations with anyone, his patriotism, or anything else that does not directly relate to his policies.
Personally, I particularly don't like his stance on the capital gains tax. It would cripple the economy and the government, while the people get taxed to the bone. I also don't like his government sponsored health care plan, or any of his plans of massive government intervention in people's affairs. Obama is just a big liberal. -
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Capital Gains insanity!
Skip to 3:13 Basically, the person asking the questions at the debate asks Obama if he would raise the capital gains tax. Obama has said before that he would, but not beyond the 28% that existed under Bill Clinton. However, the questioner goes on to say that Bill Clinton dropped the rate to 20% in 1997, and then that Bush dropped it to 15% (where it currently stands), and in each instance, the government revenue from the tax increased, the government made more money by lowering the tax. And, when the tax was originally increased in the 1980's, government revenue went down. In addition, 100,000,000 (1/3 of the population) people in our country own stock in these companies and would lose money. How does this work exactly? I'll tell you. Capital gains are profit made by the exchange of capital, the means of production. The exchange of this ensures that the economy is running as efficiently as possible because those who are inefficient will be bought out of the market by the laws of competition. It also provides the means for entrepreneurs to get into the market and make a difference by either being productive and contributing to the economy, or by failing and getting bought out. And when the economy is good, the government makes more money from the taxes that it does implement. And when the economy is bad, they make less money, even if they take a higher percent. So basically, the economy is hurt to the point where the government makes less money from a higher tax. What does this mean to Obama? Well, he says he wants to finance healthcare and invest in education and infrastructure. Well, do you see something not making sense here? If the government made more money, there would be more to invest in healthcare, education, and infrastructure. Maybe you're thinking "Hey, Obama's a smart guy (he was the editor of the Harvard Law Review after all), why would he support doing this? The answer that Obama gives us is "for the purpose of fairness." You've probably heard his line about how Warren Buffet's secretary pays a higher tax than he does, and that doesn't sound very fair. However, Buffet spends a smaller percent of his income on himself, and he invests more of it in the economy and it benefits everyone that way by stimulating economic growth. Does it make more sense now? The real reason why he's supporting this? He's really supporting this because he wants votes. He wants white, working class votes that would otherwise go to Hilary, and by saying he wants to tax rich people he gets their favor. But do you really think that they would rather have everything be fair, as opposed to having a better life style. I think not. "Socialism is misery shared by all," said Churchill, and this is socialism in its egalitarian essence. In the end, Obama is just a populist pandering for votes so that he can run the country for the next 4 years, and the worst thing is, he'll probably carry out this plan in hopes that he'll get 8 years instead. You might think we're in a recession now (even though we are not), but just wait, and watch what will happen if this guy gets elected. Everyone will lose. The government, the taxpayers, the rich, and the poor. All of them. This is what we have to hope for.
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. "It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance. --Murray Rothbard Join the Libertarians!
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He's a socialist, and without a complete abandonment of our constitution and all it stands for, mixing socialism in our country is like oil and water. He just does...not...get...it.
Economy Everything he talks about boils down to one thing...raping the wealthy with oppressive taxes. Doesn't he get that "The Wealthy" are the ones who EMPLOY 99% of the country? Doesn't he get that the more money you steal from "the wealthy" is the less they have to put into paychecks? Obviously...NO. Immigration Obama does not understand how immigration works. Historically, the United States has had to limit immigration, or else there aren't enough jobs for Americans. What does he want to do? Give all the illegals here, a clean slate, and pass out free green cards. He wants to make it easier to immigrate to the United States, which will create LESS jobs for our citizens. Obama is clearly pandering to the hispanic vote here, disregarding the consequences of his actions. Poverty See his issues on the economy. His "solution" to poverty is to create more and more entitlement programs. How will he pay for this? Raping the rich, that's how. He wants to increase paid sick days (aka: force private employers how to run their businesses). He wants to raise the minimum wage (aka: force "mom & pop" establishments out of business, because they won't be able to afford little Jimmy's part-time job). Faith Hmm....seems like Obama's "Faith" page is a little "lacking." Seems that 90% of the original page has been removed. ....wonder why.... Fiscal Ironically, even after Obama whined about Bush increasing the size of government, NO WHERE does he say that he wants to scale it back. Furthermore, I wouldn't doubt if he bloats it even MORE. His "solution" to this problem is just like all the others....bleed the wealthy. Health Care Yes Komrade! Free Health Care for all! Wh..what? Who's gonna pay for this? Well...the WEALTHY! That's who! There's others, but they all have the same solution...bleed the rich. Knock the "successful" down, to the level of the "unsuccessful." Yes, Komrade! Happiness can only be achieved when EVERYONE is "middle class!" Hooray Socialism!!
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Okay, lets define who the Capital gains tax is most going to effect. Its applied when someone trades a share right? So by far the greater majority of increase tax will be the rich, who own more of the market- does anyone know how its divided exactly? Everyone can throw up the 1/3 of the population thing, but that doesn't tell you how it is divided amongst that third.
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