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Speak Out North Saint Paul
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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 Posted: Fri Feb 12, 2010 11:44 am Post subject: |
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A business owner wrote a letter to the editor in today's Pioneer Press. This is the text.
http://www.twincities.com/ci_14384765?IADID=Search-www.twincities.com-www.twincities.com
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What entrepreneurs need
Pioneer Press
Updated: 02/11/2010 07:18:18 PM CST
When I read columnists like Paul Krugman, who say that $1.5 trillion deficits aren't enough stimulus and that the government has to do more, I feel like people just don't realize that growing jobs requires a stable business environment coupled with low tax rates and moderate regulation ("The sudden ubiquity of deficit scare stories," Feb. 7).
If the federal government offers this kind of environment, the entrepreneurs in this country will create jobs faster than ever. They won't do it, however, if income tax, capital gains and estate tax rates are raised and the prospect of runaway inflation and higher interest rates become more and more likely because of the massive deficits being run up by the federal government.
When people and businesses see the government acting irresponsibly, they pull in their horns, reduce spending and investment and wait for the storm to pass.
Douglas D. McMillan, St. Paul
The writer is owner and CEO of McMillan Electric Company.
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I also told you Democrat fools that with the massive deficits Obama and the Democrats are running they are eventually going to come after the middle class with tax increases.
http://www.nydailynews.com/news/politics/2010/02/10/2010-02-10_obama_agnostic_about_tax_hikes_for_more_people.html
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WASHINGTON - President Obama says he is now "agnostic" about raising taxes on households making under $250,000 a year to help cut budget deficits, signaling a possible retreat from a campaign pledge.
In an interview with Bloomberg BusinessWeek on newsstands tomorrow, Obama said a presidential budget commission needs to look at all options for deficit reduction - including tax increases and cuts in spending on such programs as Social Security and Medicare.
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You were told.  |
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Jane Austen
Joined: 12 Sep 2005
Posts: 536
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| Posted: Sun Feb 14, 2010 2:58 pm Post subject: I confess.. |
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I confess, I could only slog through so much of Disgruntled's posts. If there are any lessons to be learned from his posts, it is that greedy white men will game the system wherever possible. It is ridiculous to blame it on one party over another. The fact of the matter is that corporations do not really care which political party is in power. They only care if the votes are for sale. It's an easier job with the Republicans--they are all about corporatism. It's in their blood. An added blessing is that most of the so-called blue-dog Democrats are corporatists, at heart.
What I do not understand is that Republicans get so hot-and-bothered when Democrats pass the very legislation that they would be ecstatic about if a Republican were to introduce it. Less regulation of banks, insurance firms, financial institutions, and businesses is their mantra. So why not praise Clinton for having deregulated? The fact that deregulation has been a cluster-bomb for the U.S. economy isn't a bug of deregulation, it's a GD feature! Republicans are only angry because corporations and their execuatives poured money into the Democrats' coffers instead of the Republicans' when it was to their advantage to do so.
And now, the U.S. Supreme Court's most activist judges have ruled that corporations are more human than a fetus. And nary a peep from the Republicans about how that might be against "God's Law." Nah, they are ecstatic over this. Republicans will only complain about it if/when the Corporations end up giving more money to the Democrats than to the Republicans. That is because Republicans know free speech will only get you so far. It's free speech + MONEY, MONEY, MONEY! that influences most elections. And they will never oppose that imbalance of influence. They will only whine if the outcome is not in their favor.
Oh, and Rupert Murdoch is a Democrat? You have lost your ever-hatin' mind!!!
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Yes. We. Can. |
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contrary1
Joined: 14 Apr 2006
Posts: 472
Location: N. St. Paul
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| Posted: Mon Feb 15, 2010 12:17 pm Post subject: |
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I think that's a fascinating letter to the editor. Too bad he did't have any worthwhile insights to share on how to reduce spending enough to make a dent in the deficit that's got him so scared he can't create a job. Wonder if he stopped hiring around the time we decided to put two wars on the deficit side of the ledger. Gee, do you think the fact consumers aren't spending has anything to do with the lack of job creation? It does make one think we'd be better of with a consumption tax - at least we'd stop hearing whining from those who, too often, outsource and keep wage costs low even in the best economies. I do have sympathy for small businesses that went along for the ride during the bubble years and now don't actually know what hit them. They're looking to survive and are rightfully looking at what will help them stay afloat. But, times are tougher even for those consumers with jobs, fella, and that's the problem. Lowering business taxes and slashing government spending won't fix the underlying problems we have in the economy.
There are no easy answers to the financial mess created by our bought and paid for inept elected congresspeople, of both parties, and the absolute arrogance of our financial conglomerates. It would help if there were a republican party with new ideas and a true willingness to find solutions but we're stuck with a party only interested in seeing administration policies fail. The alternative Tea Party has no clue what's caused the problems and how to address root causes - it's focus seems to be on feel good rhetoric about the good old days. It's counter-productive when not only politics is seen as a win-lose game, but governing the country is as well. That's sadly where we're at. You shouldn't blame disgruntled for not knowing he's only a pawn in this new age of political "leadership": do whatever you can to ensure failure while accepting no accountability.
Time to do my part and go spend a few bucks. |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Wed Feb 17, 2010 2:28 pm Post subject: Re: I confess.. |
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| Jane Austen wrote: |
If there are any lessons to be learned from his posts, it is that greedy white men will game the system wherever possible.
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I think the lesson is that greedy non-whites will steal money from white people who actually work for it. America was created by white males. It will be destroyed by non-whites.
| Lazy Democrat wrote: |
He works 80 hours a week. He makes money. I do nothing. It's not fair!
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| Jane Austen wrote: |
It is ridiculous to blame it on one party over another.
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 When unemployment was 4.4%, in Oct. 2006 you blamed Republicans for the "rotten" economy.
4.4% unemployment. What is it now? What should it be now if millions of people hadn't dropped out of the work force in frustration?
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000
When Bush got his tax cuts:
* Job creation soared
* Treasury tax revenue increased to a record high
Obama and the DFL have done the EXACT OPPOSITE of what Bush did. Unemployment soared.
And you say we can't blame one party?
320 economists signed a statement saying that Obama was going to destroy the economy. They were right. 
| Jane Austen wrote: |
The fact of the matter is that corporations do not really care which political party is in power.
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Jane, when you work 80 hours a week and the government steals 70% of your income, then you come back and tell me what is fair. Until then, you have no idea what you are talking about.
Democrats want:
39.6% top tax rate
5.4% surtax for Obamacare on incomes over $500k
15.3% Social Security tax on ALL income by eliminating current $106k cap
3.4% Medicare tax on ALL income
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= 63.7% total top tax rate.
That still would not come close to closing Obama's deficits.
Then we have state taxes. Minnesota Democrats wanted to raise the top income tax rate to 12% a few years ago.
63.7%
+ 12% Desired DFL Minnesota top tax rate
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75.7%
The top tax rate for a citizen of Minnesota if the Democrats had their way would be 75.7%.
Who the *&^% is going to work so the Democrats can steal 3/4 of his income? Would that person just say, "&^%$ it, I'm going to retire?"
HOW GOD DAMNED STUPID DO YOU HAVE TO BE TO THINK A 75% TAX RATE ISN'T GOING TO DESTROY JOBS?
Jane, are you going to work 80 hours a week knowing that the government is going to steal 60 hours a week of your income?
Who would?
Yeah, let's not blame the Democrats for destroying jobs when there are tons of news stories with people saying the Democrats' tax plans are destroying jobs!
| Jane Austen wrote: |
Oh, and Rupert Murdoch is a Democrat? You have lost your ever-hatin' mind!!! |
And you never had one to begin with. I've posted this before. One more time, I hope it sinks in now.
http://www.cbsnews.com/stories/2006/05/09/politics/main1600694.shtml
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NEW YORK, May 9, 2006
Rupert Murdoch Loves Hillary Clinton
Conservative Media Mogul To Host Fundraiser For Liberal N.Y. Senator
Conservative media mogul Rupert Murdoch will host a fundraiser for liberal New York Sen. Hillary Clinton, the Financial Times reports.
The mating ritual of the unlikely allies has been under way for months. Clinton set political tongues to wagging last month by attending a Washington party celebrating the 10th anniversary of Fox News, the cable news channel owned by Murdoch.
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Checking Murdoch's political contributions at fec.gov, he has donated to both Democrats and Republicans. He appears to have donated to more Republican candidates than Democrats. But here is how he donated:
* George W. Bush: $0
* Hillary Clinton: $2100
* John Kerry: $2000
* Charles Schumer: $2000
Murdoch donated NOTHING to Bush. He donated to Kerry and Hillary.
Yeah, Jane, he sounds like a hardcore Republican. All Republicans secretly donate to Democrats they don't want to get elected, don't they?
Yeah, $0 in donations to Bush and donations to his opponent John Kerry is proof Murdoch is a Republican. |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Wed Feb 17, 2010 2:54 pm Post subject: |
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| contrary1 wrote: |
I think that's a fascinating letter to the editor. Too bad he did't have any worthwhile insights to share on how to reduce spending enough to make a dent in the deficit that's got him so scared he can't create a job.
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Letters to the editor usually don't give you that much space.
| contrary1 wrote: |
Wonder if he stopped hiring around the time we decided to put two wars on the deficit side of the ledger.
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No he did not.
| contrary1 wrote: |
Gee, do you think the fact consumers aren't spending has anything to do with the lack of job creation?
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Do you want us to believe that consumer spending has dropped to $0? All those people in parking lots are window shopping?
Do you want us to believe that higher taxes don't destroy jobs? Can you be that foolish?
| contrary1 wrote: |
It does make one think we'd be better of with a consumption tax - at least we'd stop hearing whining from those who, too often, outsource and keep wage costs low even in the best economies.
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Not true. A tax is a tax and takes money out of the economy just the same. A VAT would increase the cost of a product and thus retard demand. Whether or not a lack of an income tax would allow producers to produce for less enough to offset a VAT is unlikely.
| contrary1 wrote: |
I do have sympathy for small businesses that went along for the ride during the bubble years and now don't actually know what hit them.
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Most of them saw this coming.
| contrary1 wrote: |
They're looking to survive and are rightfully looking at what will help them stay afloat.
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Ain't they lucky Obama is demanding they pay more taxes and expensive healthcare mandates?
| contrary1 wrote: |
But, times are tougher even for those consumers with jobs, fella, and that's the problem. Lowering business taxes and slashing government spending won't fix the underlying problems we have in the economy.
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Then why are federal and state Democrats proposing tax credits to spur job creation?
http://money.cnn.com/2010/01/28/smallbusiness/obama_jobs_plan/
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NEW YORK (CNNMoney.com) -- When President Obama called last month for a new tax break to spur job creation, critics blasted him for offering no specifics. On Friday, Obama filled in the details: He wants to give businesses a $5,000 tax credit for each net new employee they hire this year.
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Except: Obama's tax increases and healthcare mandates would exceed the $5,000 one-year credit.
Obama is too stupid to realize his temporary tax credits aren't going to offset the damage done by his permanent tax increases.
| contrary1 wrote: |
There are no easy answers to the financial mess created by our bought and paid for inept elected congresspeople, of both parties, and the absolute arrogance of our financial conglomerates.
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* Obama was the largest recipient of contributions from Wall Street employees
* Wall Street is run by Jewish Democrats
* Bush wanted reforms on Fannie Mae and Freddie Mac from 2001 - 2006, Democrats blocked it.
http://gatewaypundit.firstthings.com/2008/09/bush-called-for-reform-of-fannie-mae-freddie-mac-17-times-in-2008-alone-dems-ignored-warnings/
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The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001.
Unfortunately, Congress did not act on the president’s warnings:
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Democrats in the Senate blocked every Republican attempt to reign in Fannie and Freddie.
And you say BOTH PARTIES ARE TO BLAME WHEN REPUBLICANS TRIED TO PREVENT WHAT HAPPENED?
| contrary1 wrote: |
It would help if there were a republican party with new ideas and a true willingness to find solutions but we're stuck with a party only interested in seeing administration policies fail.
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More talking points from the mindless Democrats.
You don't NEED NEW IDEAS. You need IDEAS THAT WORK!
New does not necessarily mean better. Change does not necessarily mean change for the better.
You were told this during the 2008 campaign. Guess what: you got change for the worse.
But you dopes wanted change. And change you got:
* Runaway budget deficits
* Impending inflation
* Rising job losses
* Record domestic terror plots in 2009
You like that change?
| contrary1 wrote: |
The alternative Tea Party has no clue what's caused the problems and how to address root causes
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Of course not.
Meanwhile, Obama talks out of both sides of his ugly face:
* He bashes Wall Street one week then praises them the next
* He says he wants to create jobs with tax credits then demands massive tax increases on business
* He says it is not fair that rich people have wealth then says he does not begrudge the wealthy
* He whips up anger over AIG bonuses when his administration approved them
* He demanded a windfall profits tax on those AIG bonuses then dropped the matter when it was revealed his administration approved them
* He says he is going to lower the cost of healthcare with reforms that most economists agree are going to increase costs
| contrary1 wrote: |
- it's focus seems to be on feel good rhetoric about the good old days.
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Does "hope and change" sound familiar to you?
| contrary1 wrote: |
It's counter-productive when not only politics is seen as a win-lose game, but governing the country is as well.
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Democrats rammed through their failure of a stimulus bill to the tune of $787 billion. Obama wanted to ram through Obamacare before anyone had a chance to read it. Obama wanted the bill on his desk before the August recess. And you are saying that Republicans are playing politics when they are morally opposed to the damage Obama is trying to do?
http://blogs.wsj.com/washwire/2009/01/23/obama-to-gop-i-won/tab/article/
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January 23, 2009, 2:32 PM ET
Obama to GOP: ‘I Won’
The top congressional leaders from both parties gathered at the White House for a working discussion over the shape and size of President Barack Obama’s economic stimulus plan. The meeting was designed to promote bipartisanship.
But Obama showed that in an ideological debate, he’s not averse to using a jab.
Challenged by one Republican senator over the contents of the package, the new president, according to participants, replied: “I won.”
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| contrary1 wrote: |
That's sadly where we're at.
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See the above. Where we are at is where YOU VOTED FOR US TO BE AT.
The American people oppose Obamacare. But you still want to ram it through, insisting that YOU know what is best for everyone when you don't.
| contrary1 wrote: |
You shouldn't blame disgruntled for not knowing he's only a pawn in this new age of political "leadership":
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Yeah, OK.
| contrary1 wrote: |
do whatever you can to ensure failure while accepting no accountability.
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Democrats had a filibuster-proof majority in the Senate. The Republicans had NO POWER to shape any legislation and could not stop it.
| contrary1 wrote: |
Time to do my part and go spend a few bucks. |
Why don't you be like a typical Democrat and just steal something instead? It's not fair that the store has something and you don't, is it?
Buncha greedy Republicans. |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Thu Feb 18, 2010 9:22 pm Post subject: |
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http://www.businessweek.com/news/2010-02-17/microsoft-dell-prepare-to-fight-tax-increase-in-obama-s-budget.html
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Software and computer companies such as Microsoft Corp., Hewlett-Packard Co. and Dell Inc. are gearing up to fight an Obama administration plan to curb offshore tax avoidance.
The $15.5 billion proposal in President Barack Obama’s 2011 budget targets what the Internal Revenue Service calls the growing problem of so-called transfer pricing. The technique allows companies to reduce their tax bills by transferring intangible property such as patents, trademarks and licenses to offshore subsidiaries.
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Microsoft founder and Chairman Bill Gates is an Obama supporter, in case you were wondering. He publicly supported Obama and donated to his Presidential campaign.
Companies are actively seeking to find ways of avoiding the high taxation in the United States which the Democrats want to make even higher.
Is it possible that transferring intellectual property outside of the United States could be the first step to moving the entire corporation outside of the country? It very well could be.
Here is another story about Obama supporter Bill Gates' company.
http://www.legalweek.com/legal-week/news/1592244/microsoft-outsources-legal-india-cpa-global-deal
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Microsoft outsources legal work to India with CPA Global deal
Author: Alex Aldridge
18 Feb 2010 | 00:01
Microsoft has entered into an agreement with legal outsourcing provider CPA Global to offshore legal work to lawyers in India.
News of the outsourcing comes after Microsoft cut its legal budget by 15% over the last two years, leading to a 5% reduction in headcount. Before the cuts, Microsoft's legal department had an annual budget of $900m (£570m) and 1,050 staff, including 450 lawyers.
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Not even Democrats like Bill Gates want to do business in America under the system of high taxes and regulations he supports.
Microsoft had net profits of $14.569 BILLION on revenues of $58.437 BILLION in 2009, according to Wikipedia.
http://en.wikipedia.org/wiki/Microsoft
How come Obama supporter Bill Gates is moving jobs outside of the country? 
http://en.wikipedia.org/wiki/Offshoring
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When a company moves the production of goods and services to another country, the investment that companies would otherwise make in the domestic market is transferred to the foreign market. Corporate money spent on factories, training, and taxes, which would otherwise be spent in the market of the company is then spent in the foreign market.
Before the 1990s, Ireland was one of the poorest countries in the EU. Due to Ireland's relatively low corporate tax rates, US companies began offshoring of software, electronic, and pharmaceutical intellectual property to Ireland for export. This helped create a high-tech "boom" and which led to Ireland becoming one of the richest EU countries.
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http://www.rte.ie/business/2009/0907/tax.html
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Measures aim to keep Ireland low tax economy
watch listen Monday, 7 September 2009 19:20
The commission also recommends that the country's low corporate rate tax of 12.5% should remain in place to support economic activity long term.
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Obama is doing the opposite of what Ireland did. Instead of keeping taxes low to encourage economic activity, Obama is demanding punishing tax increases on business.
If Ireland is keeping corporate taxes low to encourage economic activity, isn't Obama discouraging economic activity?
Moving a corporate headquarters from the USA to Ireland would result in an instant profitability increase of 22.5%. (35% USA tax - 12.5% Ireland tax rate)
Last edited by disgruntled on Tue Apr 06, 2010 12:29 am; edited 1 time in total |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Sun Mar 07, 2010 9:07 pm Post subject: |
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Concerned that Obama is destroying the economy, some Democrats are joining Republicans to challenge Obama's use of the EPA to regulate carbon and extract massive taxes from industry.
Democrats are finally admitting that Obama is destroying the economy!
http://online.wsj.com/article/BT-CO-20100222-713847.html?mod=WSJ_latestheadlines
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FEBRUARY 22, 2010, 4:51 P.M. ET
WASHINGTON (Dow Jones)--U.S. Senate Republicans seeking to prevent the Obama administration from regulating greenhouse gases got a big boost late last week after eight coal-state Democrats sent a letter questioning the environment agency's climate policies.
The lawmakers, including heavyweights like Max Baucus (D., Mont.), Carl Levin (D., Mich.) and John Rockefeller (D., W.Va.), warned Environmental Protection Agency chief Lisa Jackson they're seriously concerned about the potential economic and energy impacts of new regulations the agency is drafting to regulate greenhouse gases.
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Democrats are turning on Obama.
http://views.washingtonpost.com/climate-change/post-carbon/2010/03/rockefeller_pushes_to_rein_in_epa.html
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en. John D. Rockefeller (D-WVa.) will introduce legislation Thursday to impose a two-year moratorium on the Environmental Protection Agency's ability to regulate greenhouse gases from power plants and other stationary emitters, a move that could undermine the Obama administration's plan to pursue a cap on carbon emissions in the face of congressional opposition.
"Today, we took important action to safeguard jobs, the coal industry, and the entire economy as we move toward clean coal technology,"
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Obama wants carbon taxes so badly he is planning to use the EPA in a end-around Congress.
Obama does not care that he is destroying jobs. A few Democrats in Congress, however, are starting to care. It's an election year. For no other reason. |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Sun Mar 07, 2010 9:18 pm Post subject: |
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One, perhaps both, of the founders of Google is a liberal. Both founders are multi-billionaires.
A few years ago, Google opened up a facility in Ireland to take advantage of the nation's low tax rates. Jobs were created in Ireland that could have been created in the USA or other European countries. Google said Ireland was chosen because of low taxes.
http://www.timesonline.co.uk/tol/news/uk/article6122329.ece
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April 19, 2009
GOOGLE, the internet giant with the motto “don’t be evil”, avoids paying more than £100m a year in UK tax despite pulling in annual revenues of more than £1.25 billion.
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Why Ireland
http://www.idaireland.com/why-ireland/tax/
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Corporate Tax Rate - A corporate tax rate of 12.5% applies to all corporate trading profits
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| MORON Barack Obama wrote: |
I'm going to create millions of jobs by imposing massive tax increases on businesses and entrepreneurs! |
National tax comparison graph:
http://www.idaireland.com/_internal/cimg!0/et7ibc5r5ejubnkteeofu7mi1ll3j1k |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Tue Mar 16, 2010 10:22 pm Post subject: |
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http://www.sacbee.com/2010/03/12/2602340/obama-budget-would-raise-taxes.html
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Obama budget would raise taxes and double the national debt
By BRIAN RIEDL
The Heritage Foundation
Published: Friday, Mar. 12, 2010 - 5:14 am
First, the (Obama) budget would raise taxes by $3 trillion over the next decade. Second, the national debt would still double over that period.
That $3 trillion tax increase includes a $743 billion health-care reform tax, and an $843 billion cap-and-trade energy tax that would be passed on to every household and business. (The president endorsed this tax but inexplicably excluded its cost from his budget.) President Obama would also raise taxes by $968 billion on small businesses and upper-income families, and by $468 billion on corporations --- just as these businesses are struggling to create jobs.
These tax increases would push Washington's total tax bite to its highest sustained level in American history. And yet it still wouldn't keep up with all the new spending.
The Social Security and Medicare costs of 78 million retiring baby boomers threaten to bury Washington in an avalanche of debt. President Obama's answer? To deepen the avalanche with trillions of dollars in additional health care, education and energy spending.
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Do you still doubt that Obama is destroying the country? |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Sat Apr 03, 2010 2:54 am Post subject: |
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Higher investment taxes are coming. Who will be hurt? Everyone with money invested in the stock market (100 million before the start of the latest recession), every business owner who wants to tap the capital markets to fund growth, and everyone who works for a living. Retirees and pension fund recipients will be hurt, too.
http://money.cnn.com/2010/04/02/markets/stocks_tax_return/index.htm?source=cnn_bin&hpt=Sbin
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Higher taxes threaten stock rally
By Alexandra Twin, senior writerApril 2, 2010: 3:49 AM ET
NEW YORK (CNNMoney.com) -- Between the new Medicare tax on investment income and a rise in capital gains and dividend taxes, investors will face higher costs. But the overall effect on stock returns is not as cut and dry.
By 2013, investment taxes for the wealthiest Americans will rise to roughly 24% from the current level of 15% -- the highest level since the Reagan era. The tax applies to roughly 1 million individuals who earn over $200,000 and 4 million couples who rake in more than $250,000.
While this group makes up just 2% of the population, it's a far bigger driver of market activity than the other 98%. In addition, the higher rates aren't tied to inflation, meaning middle-class Americans will eventually price into the group.
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I like this incomplete nugget:
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In fact, markets have been known to thrive in a higher investment tax rate environment. From 1986 until 1997, when the top capital gains tax rate was at 28%, the Dow gained in all but one year, with average returns of 15%. |
What the author fails to state is the Reagan income tax cuts during the 1980s reduced the top tax rate from 70% and fueled much growth during the decade and set up the economy to grow during the 1990s.
Another thing the author fails to mention is the technology stock bubble from the 1990s. A portion of the growth in stock values during the mid-to-late 1990s should never have occurred and was corrected during the early 2000s when the stock values tanked.
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But this time around, the psychological impact may play a bigger role. With the U.S. economy still reeling in the aftermath of the worst recession since the 1930s, investors have more reason to show caution in the near term.
"You'll probably see more of a sideways pattern in the stock market over the next few years, but it's a little muddy as to how the higher taxes might factor in," said Linda Duessel, equity market strategist at Federated Investors.
With some of the 2003 tax cuts expiring at the end of this year, wealthy Americans will likely see a boost in long-term capital gains taxes to 20% from 15%. Starting in 2013, they'll also pay additional Medicare taxes - an extra 0.9% of their wage income and an extra 3.8% on investment income.
The taxes would hit those whose gross income, which comprises earnings plus investments, tops $200,000 for individuals and $250,000 for couples. Investment income, also known as unearned income, refers to capital gains, dividends, interest, annuities and rent, among other things.
"Anytime you raise taxes, you provide some incentive to sell the underlying stocks, but I don't think these will have a big impact," said Douglas Elliott, fellow at the Brookings Institute and a former investment banker at JPMorgan Chase.
"I think there will be some psychological impact, just like there was when capital gains tax rates came down (in 2003), but that was a short-term impact," Elliott said. "Longer term, stock returns are still driven by fundamentals."
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Fundamentals. Like profits and anticipated growth. Would you rather invest in a stock that returns 10% each year at 0% tax or a stock that doubles in value every year taxed at 100%?
The value of any investment is based upon the cash flows it generates. When you raise taxes you reduce cash flows and thus reduce the value of all investments.
It's simple math a junior high school kid could do. But not Democrats. |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Tue Apr 06, 2010 12:26 am Post subject: |
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Just saw a story on the decline of Silicon Valley and how companies are moving their operations overseas. One reason they are moving overseas is...tax benefits!
Obama is demanding massive tax increases and businesses are responding by taking their jobs overseas.
Take microchip manufacturing by a company like Intel. Most of the manufacturing process is automated. There is very little human intervention. So why are these companies building chip manufacturing factories overseas instead of in America? Because the Democratic Party has pushed them out.
http://www.pbs.org/newshour/rundown/2010/04/silicon-valley-company-adjusts-to-changing-dynamics.html
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A ride down the highway reveals a huge number of vacancies in buildings that once housed thousands of startups hoping to invent the next big thing. Much of the action has moved overseas, to India and China and Israel, which are developing their own high-tech industries and employing their own people, who are getting better technical educations than their counterparts in the U.S.
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They also have significantly lower taxes, too. Maybe not India, but certainly China in their economic development zones.
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One company that is bucking the trend, because it sees the handwriting on the wall, is Applied Materials, for decades one of the valley's biggest employers. Applied makes the machines that make chips, or semiconductors -- the brains of computers.
But in the past few years it has added a new part to its business. It now is manufacturing machines that produce thin solar panels. But most of the work is going on outside the U.S. And in fact the corporate technology officer for Applied Materials, Mark Pinto, is moving his family to China, so he can oversee the factories and the research facilities that Applied has built there. |
Discussed in the Newshour program was the tax advantage to moving operations overseas and how venture capitalists are not taking the risks they used to take.
Why wouldn't they take risks when investors in China, India, and elsewhere are taking those risks? Perhaps because higher investment taxes alter the risk-reward structure.
Higher taxes kill jobs and innovation.
This is what you Democrats wanted and you are getting it. 
By the way, large companies headquartered in Silicon Valley like Apple Computer do most of their manufacturing overseas.
Who runs Apple Computer? A Democrat by the name of Steve Jobs. Jobs donates solely to Democrats. Most of Jobs' contributions have gone to the DNC. He has also donated to the campaigns of Rahm Emmanuel, Nancy Pelosi, Ted Kennedy, Barbara Boxer, and Dianne Feinstein. No contributions to Republicans.
Al Gore is also on the Board of Directors for Apple Computer.
http://www.nytimes.com/2007/06/28/technology/28iht-ipod.1.6378095.html
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Who really makes the iPod?
By Hal R. Varian
Published: Thursday, June 28, 2007
NEW YORK — Who makes the Apple iPod? Here's a hint: It is not Apple. The company outsources the entire manufacture of the device to a number of Asian enterprises, among them Asustek, Inventec Appliances and Foxconn.
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Hey, Jane Austen, why are these Democrat-run technology companies manufacturing their products overseas when there are millions of unemployed workers and life-long welfare recipients who could be doing the work?
http://sanjose.bizjournals.com/sanjose/stories/2010/02/08/story5.html
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Friday, February 5, 2010
Businesses balk at Obama’s plan to tax overseas profits
Silicon Valley executives say a recent federal tax proposal on revenue earned abroad could lead to domestic layoffs.
American companies have long been able to avoid paying some taxes on income earned outside the United States, which has helped them earn higher profits on software, solar panels and other products sold overseas.
But the recent proposal, made by President Barack Obama on Feb. 1, could end this provision. The measure was part of Obama’s $3.8 trillion federal spending package for the coming fiscal year and is intended to help raise money for government programs.
Several valley executives say the proposal would result in American companies — especially Bay Area technology firms with extensive overseas operations — falling behind their foreign rivals in profits earned as well as research and development.
One vocal critic is Mike Klayko, CEO of San Jose-based Brocade Communications Systems Inc. He said the measure may force companies to “close up shop here” and move abroad.
Jim Parker, tax director for SunPower Corp. of San Jose, agrees the proposal could hurt business.
Parker is one of several executives who noted that other countries, such as the United Kingdom, France, Japan and Germany, do not tax their companies’ foreign income. He said Obama’s proposal would increase companies’ operating costs by so much that they might have to fire U.S.-based workers to save money.
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Killing jobs and taking control of the private sector is Obama's grand plan. |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Sat Apr 10, 2010 9:40 am Post subject: |
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This isn't about Obama. It is more about Democrat taxes and how they destroy jobs.
http://www.startribune.com/business/90423464.html?elr=KArksLckD8EQDUoaEyqyP4O:DW3ckUiD3aPc:_Yyc:aUnciaec8O7EyUsl
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Study: Minneapolis is among pricier cities for corporate HQs
Corporate relocation expert says more firms are looking for low-cost cities, even for company headquarters.
A new study comparing corporate headquarters costs ranks Minneapolis as the 15th most expensive of 50 U.S. cities, and second only to Chicago among 12 cities in the Midwest.
Minneapolis' property taxes were the main reason for its relatively high ranking in the study by the Boyd Co. Inc., a Princeton, N.J.-based corporate relocation consultant. In addition to taxes, the rankings also were based on electricity, land, construction and travel-related costs for a hypothetical 70,000-square-foot head office with 325 workers.
Q Which cities are the Twin Cities' biggest competitors?
A For a regional headquarters in the Midwest, it's Chicago, St. Louis, Kansas City. On a national scale, Atlanta has become a sort of Mecca, and Phoenix attracts a lot interest. The calls we get at our offices more and more are about these smaller, second- and third-tier cities. That's what companies are looking at right now, to save money. In some ways your biggest competition is coming from cities in states without a corporate or personal income tax. Sioux Falls, S.D., is included in our study and is the type of market Minneapolis is competing with.
Q How can Minneapolis become more competitive?
A Hold the line on taxes, especially property taxes. You need to understand that the impact of Minneapolis' high property taxes is compounded by the fact that land and construction costs are also high. The effective property tax rate in Minneapolis is about twice as high as the study's low-cost option, Sioux Falls.
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What do state and national Democrats want to do? They want to raise taxes. |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Sat Apr 10, 2010 9:46 am Post subject: |
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A woman at one of Obama's town halls (political rallies) asked if it was wise to raise taxes during a recession.
MORON Obama spoke for about 17 minutes and did not even answer the question.
What a moron!
http://www.youtube.com/watch?v=0Jz6y_16NI8 |
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disgruntled
Joined: 18 Oct 2005
Posts: 1621
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| Posted: Thu Apr 15, 2010 11:14 am Post subject: Foreclosure Filings Hit Record |
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Foreclosure filings spike to a record level during the first quarter.
That MORON Obama took $75 BILLION from TARP for "foreclosure relief". Looks like it is working good, huh?
http://www.reuters.com/article/idUSTRE63E3DY20100415
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Foreclosure actions spike despite aid
U.S. home foreclosures actions spiked in March and set a quarterly record despite federal programs to combat the unrelenting pace that homeowners are defaulting on mortgages, RealtyTrac said on Thursday.
Housing Market
The government aid, intensified in late March, has so far failed to overcome the staggering effects of nearly double-digit unemployment and wage cuts on borrowers.
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Good for us that Obama is raising taxes on businesses an entrepreneurs who create jobs, huh?
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Foreclosure activity jumped 19 percent to a monthly record in March, driving first-quarter actions up 7 percent from the prior quarter and 16 percent from a year ago to a record of more than 932,000 properties. |
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