Posted by: Samsara August 26, 2008
Lets Enlighten: Obama Vs McCain
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McCain ALL the way!!  I was for Obama who I thought was the lesser evil until he started flip-flopping and back tracking on all the promises he's made.  Most importantly, Obama's tax policy is gonna ruin the nation.  In the 80s, right after the stagflation years induced by the oil shock (worse than today's oil fiasco in real terms), the Reaganomics policies (the brainchild of the Monetary guru and Nobel Laureate, Milton Friedman...Rutgers in the house), applied by Fed Chairman Volcker saved this nation from the doom and gloom scenario.  How was this done?  Through massive tax-cuts all over and the govt trynna step back instead of getting involved in everything like the commie states (the type that Obama would want us to have).  Investors need to be given the incentive to work harder and corporations need to be coaxed to keep more jobs here by making it cheaper for them to operate within the US (rather than seek lax governments abroad with double digit unempoyment who would do anything to make it cheaper for them to build their production plants there).  How can this incentive be brought about?  By lowering taxes NOT raising them!!  The Fed has been extremely dovish for the past year and a half now lowering the Discount Rate (effectively the Fed Funds in that process) but if tax increases comoes to play, then the Fed's hands would be tied!  How lower could they go?   A negative real rate of interest would prevail like in the Japanese scenario...The Liquidity Trap that all rational economists would want to avoid at all cost. 

BTW, I  used to think Buffet was all that but after his support of hiking taxes (especially with the recessionary woes we face right now), I feel that guy is one stupid egomaniac.  He prospered under the Reaganomics policies and now he wants to change that?  All I can say is that, the old egomanical fugck is prolly trynna hold onto his seat of remaining the richest cat in the US by curbing the incentive and growth in income of other hhigh-rising hedge-fund/Banking billionaires...A 45% tax on capital gains?  WTF??  This is insane!

Income Taxes were first levied in the US as a temporary measure: To finance the Civil War and it has stuck ever since (even in decades when there were no wars).  Same with the telephone surcharge, etc that the govt charges us on which was supposed to be for only a coupla years.  Ain't it just friggin insane??

Here's what Reaganomics did for the US (as per the Cato Institute):

 

Hate saying this but Republicans have ALL my support and I'd donate to the McCain Fundraiser if I ever decide to donate to any of the 2 candidates...I say NO to socialists and commies!!

 

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