Some Possible Implications of an Obama Victory

[Gaspar]

quote:Originally posted by nathanm

quote:Originally posted by Gaspar

Stock Market 101

Lets see. . . If I sell all of my stocks now I will have to give up 15% to the Government in capital gains.

You've really held all your stock more than a year? You're a rare one these days, Gaspar.

My daddy helped me buy my first shares of stock when I was 14 years old with money from my first job.  25 years later, and I still have many of them.

I've made very smart, and very stupid decisions since then, but I know of several stocks I need to sell, and can't justify waiting any longer when I know that if Obama follows through, it will take me years to recoup the gains from slow growth stocks (mostly utilities).  

So now I need to figure out where to put the money?  It's not a whole lot, and I have no intension of spending it yet.  But any additional investment puts it back on the radar screen and I'm not ready to do that until I know how hard this administration is going to come down on personal investing and retirement.  

I think we are seeing a lot of this happening in the market right now.  

[USRufnex]

quote:Originally posted by Gaspar

Stock Market 101

Lets see. . . If I sell all of my stocks now I will have to give up 15% to the Government in capital gains.

If I wait until next year, under Obama's proposed plan, I'll have to give up more than 30%.

What do I do?

What is the world doing now?

Where is the money going?

http://latimesblogs.latimes.com/money_co/2008/08/what-would-pres.html

Obama details capital gains, dividend tax plans
8:41 PM, August 14, 2008

Sen. Barack Obama's campaign on Thursday spelled out the details of the Democratic presidential candidate's tax plan on his website and in an op-ed piece in the Wall Street Journal.

I just wanted to note the basic proposals for capital gains and dividend tax rates here:

--- Families with incomes below $250,000 would pay current capital gains rates (a maximum tax of 15% on gains on assets held more than one year). Those earning more than $250,000 would face an increase -- a top rate of 20%.

--- The top dividend tax rate would remain the current 15% for those earning less than $250,000, but would rise to 20% for those earning above that threshold.

--- For single people, the tax increases above would apply to those earning more than $200,000.

The presumptive Republican nominee, Sen. John McCain, has endorsed keeping President Bush's current tax rates as they are.

[USRufnex]

http://www.politico.com/blogs/bensmith/0308/Obama_talks_capgains_rate_with_CNBC.html

March 27, 2008
Categories: Barack Obama

Obama talks cap-gains rate with CNBC

BARTIROMO: "How do you plan to change the tax code when it comes to capital gains? How high will that 15 percent rate go?"

Sen. OBAMA: "Well, you know, I haven't given a firm number. Here's my belief, that we can't go back to some of the, you know, confiscatory rates that existed in the past that distorted sound economics. And I certainly would not go above what existed under Bill Clinton, which was the 28 percent. I would--and my guess would be it would be significantly lower than that. I think that we can have a capital gains rate that is higher than 15 percent. If it--and if it, you know--when I talk to people like Warren Buffet or others and I ask them, you know, what's--how much of a difference is it going to be if it's 20 or 25 percent, they say, look, if it's within that range then it's not going to distort, I think, economic decision making. On the other hand, what it will also do is first of all help out the federal treasury, which is running a credit card up with the bank of China and other countries. What it will also do, I think, is allow us to make investments in basic scientific research, in infrastructure, in broadband lines, in green energy and will allow us to give us--give some relief to middle class and working class families who have been driving this economy as consumers but have been doing it through credit cards and home equity loans. They're not going to be able to do that. And if we want the economy to continue to go strong, then we've got to make sure that they're getting a little relief as well."

[guido911]

E-Mail I received. Yes, It's crap, but I would not be surprised that something like this will happen:


Fellow Business Executives:

As the CFO of this business that employees 140 people, I have resigned myself to the fact that Barrack Obama will be our next President, and that our taxes and government fees will increase in a BIG way.

To compensate for these increases, I figure that the Clients will have to see an increase in our fees to them of about 8% but since we cannot increase our fees
right now due to the dismal state of our economy, we will have to lay off six of our employees instead. This has really been eating at me for a while, as we
believe we are family here and I didn't know how to choose who will have to go.

So, this is what I did. I strolled thru our parking lot and found 8 Obama bumper stickers on our employees' cars and have decided these folks will be the first to be laid off. I can't think of a more fair way to approach this problem.

These folks wanted change; I gave it to them.

If you have a better idea, let me know.

[Gaspar]

quote:Originally posted by guido911

E-Mail I received. Yes, It's crap, but I would not be surprised that something like this will happen:


Fellow Business Executives:

As the CFO of this business that employees 140 people, I have resigned myself to the fact that Barrack Obama will be our next President, and that our taxes and government fees will increase in a BIG way.

To compensate for these increases, I figure that the Clients will have to see an increase in our fees to them of about 8% but since we cannot increase our fees
right now due to the dismal state of our economy, we will have to lay off six of our employees instead. This has really been eating at me for a while, as we
believe we are family here and I didn't know how to choose who will have to go.

So, this is what I did. I strolled thru our parking lot and found 8 Obama bumper stickers on our employees' cars and have decided these folks will be the first to be laid off. I can't think of a more fair way to approach this problem.

These folks wanted change; I gave it to them.

If you have a better idea, let me know.

Here's the plan.  Go to the Change Party Headquarters, take the pledge, and sign up for one of the new numbered arm-bands, then start wearing it to work every day.



I doubt you'll be fired if they think you're a party member. []

[USRufnex]

quote:Originally posted by guido911

E-Mail I received. Yes, It's crap, but I would not be surprised that something like this will happen:


Fellow Business Executives:

As the CFO of this business that employees 140 people, I have resigned myself to the fact that Barrack Obama will be our next President, and that our taxes and government fees will increase in a BIG way.

To compensate for these increases, I figure that the Clients will have to see an increase in our fees to them of about 8% but since we cannot increase our fees
right now due to the dismal state of our economy, we will have to lay off six of our employees instead. This has really been eating at me for a while, as we
believe we are family here and I didn't know how to choose who will have to go.

So, this is what I did. I strolled thru our parking lot and found 8 Obama bumper stickers on our employees' cars and have decided these folks will be the first to be laid off. I can't think of a more fair way to approach this problem.

These folks wanted change; I gave it to them.

If you have a better idea, let me know.

Since this is a return to the tax rates of the Clinton administration, I suppose the same thing happened to folks with a Clinton/Gore bumper sticker....

"These folks wanted change; I gave it to them."

--- reply:  "We voted for change.  You obviously want a lawsuit... enjoy getting sued for crass political scapegoating, you anti-democracy jagoff."

[waterboy]

Yeah, I heard that story after Carter was elected. Sour grapes can be used in so many different ways.

The most recent one I heard is about a Dentist in California who was so totally surprised that Obama won that he locked himself in his office for three days. When he came out he alerted his staff that since Obama won, there would be no Christmas bonuses and possible staff reductions. He also said he was planning to close the office and move to Mexico.

I don't remember so much drama when Reagan or the Bushes won. Even when Bush II was suspected of stealing the election. His opponents adjusted and went back to work planning for the next election. The paranoia seems to be increasing. Hannity says the Democrats are stealing three more senators!! He has no shame.

[USRufnex]

quote:Originally posted by Gaspar


Here's the plan.  Go to the Change Party Headquarters, take the pledge, and sign up for one of the new numbered arm-bands, then start wearing it to work every day.



I doubt you'll be fired if they think you're a party member. []

How are things in your alternative universe, Gaspar?

[Red Arrow]

quote:Originally posted by USRufnex

quote:Originally posted by guido911

E-Mail I received. Yes, It's crap, but I would not be surprised that something like this will happen:


Fellow Business Executives:

As the CFO of this business that employees 140 people, I have resigned myself to the fact that Barrack Obama will be our next President, and that our taxes and government fees will increase in a BIG way.

To compensate for these increases, I figure that the Clients will have to see an increase in our fees to them of about 8% but since we cannot increase our fees
right now due to the dismal state of our economy, we will have to lay off six of our employees instead. This has really been eating at me for a while, as we
believe we are family here and I didn't know how to choose who will have to go.

So, this is what I did. I strolled thru our parking lot and found 8 Obama bumper stickers on our employees' cars and have decided these folks will be the first to be laid off. I can't think of a more fair way to approach this problem.

These folks wanted change; I gave it to them.

If you have a better idea, let me know.

Since this is a return to the tax rates of the Clinton administration, I suppose the same thing happened to folks with a Clinton/Gore bumper sticker....

"These folks wanted change; I gave it to them."

--- reply:  "We voted for change.  You obviously want a lawsuit... enjoy getting sued for crass political scapegoating, you anti-democracy jagoff."

I lost my job (Actually, I was let go due to lack of business. I knew were my job had been but it was eliminated.) during the Clinton years (1994) and I didn't even vote for him.

[Gaspar]

I think Jesus looks good in a tie.  

[USRufnex]

quote:Originally posted by Red Arrow



I lost my job (Actually, I was let go due to lack of business. I knew were my job had been but it was eliminated.) during the Clinton years (1994) and I didn't even vote for him.

I'm not sure if Republicans really want to get into a discussion of job losses after the last 8 years...  [:O]

[Red Arrow]

quote:Originally posted by USRufnex

quote:Originally posted by Red Arrow



I lost my job (Actually, I was let go due to lack of business. I knew were my job had been but it was eliminated.) during the Clinton years (1994) and I didn't even vote for him.

I'm not sure if Republicans really want to get into a discussion of job losses after the last 8 years...  [:O]

Not all of the last 8 years have been horrible employment figures. Can't argue the last 6 to 12 months.

[nathanm]

quote:Originally posted by Red Arrow


Not all of the last 8 years have been horrible employment figures. Can't argue the last 6 to 12 months.

They've been essentially stagnant at best the entire time. It would have been much worse were it not for the increase in people eating out and doing other things that increase low wage employment, which is where most of the growth has been.

To be fair, it's not Bush's fault per se, it's a combination of factors including ridiculous monetary policy that's been in place since the 1980s.