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Who is Obama
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<blockquote data-quote="UPS Lifer" data-source="post: 362640" data-attributes="member: 9789"><p>wkmac,</p><p>There is one area that BO supports that is enough to make me hope and pray he doesn't make it. Forget about everything else. This one area tells me he does not understand how our economic gears are lubricated. </p><p></p><p>He stated emphatically that he will role back the Capital Gains tax. History has shown that a lower CG stimulates the economy. He want to raise it to 30% or higher! Add to that a California tax of 9.3% and you are pushing 40% tax on your money!</p><p></p><p>You can spin it anyway you want .... there is no reason to invest or take a risk in anything that is going to take 40% of your money. What do you think is going to happen to the economy when people stop investing and just keep their money in the bank? The short term (next 5 years) will also take a major hit because of all the investments that are out there now. </p><p></p><p>Baby boomers will suffer the most because of the proximity to retirement. </p><p>BO has no concept of any of this and it scares the hell right out of me!</p></blockquote><p></p>
[QUOTE="UPS Lifer, post: 362640, member: 9789"] wkmac, There is one area that BO supports that is enough to make me hope and pray he doesn't make it. Forget about everything else. This one area tells me he does not understand how our economic gears are lubricated. He stated emphatically that he will role back the Capital Gains tax. History has shown that a lower CG stimulates the economy. He want to raise it to 30% or higher! Add to that a California tax of 9.3% and you are pushing 40% tax on your money! You can spin it anyway you want .... there is no reason to invest or take a risk in anything that is going to take 40% of your money. What do you think is going to happen to the economy when people stop investing and just keep their money in the bank? The short term (next 5 years) will also take a major hit because of all the investments that are out there now. Baby boomers will suffer the most because of the proximity to retirement. BO has no concept of any of this and it scares the hell right out of me! [/QUOTE]
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