22 Comments

1. Barry Dauphin:

The Office of the President Elect—WTF? For a guy with such good oratorial skills, this preoccupation with faux symbols is a concern. It’s like when someone who has done nothing includes every conceivable title after their signature on a letter.

Sincerely,
Joe Smith
Certified Public Accountant
3rd place in 4th grade spelling bee
winner of chug-a-lug contest sophmore year

Nov 7, 2008 - 2:07 pm 2. davidingeorgia:

I have no idea what his economic advisors told him, but something he’s heard recently (maybe from his classified CIA briefing from yesterday?) made him look a little green around the gills…that’s as un-telegenic as I’ve ever seen him look in front of TV cameras, all questions of content aside…

or maybe he just got a bad burrito? something was sure up though…he looked/sounded seriously shakey to me…

nice cheap shot at Nancy Reagan too…way to classy there, Obamassiah!

Nov 7, 2008 - 2:10 pm 3. Barry Dauphin:

There will be plenty of seals and symbols. It comes with the territory, no need for new ones. Being President is as tops as it gets. He might have a tough time after his service is concluded (or create office of the former president or just a symbol, like Prince, the Obama formerly known as president)

Nov 7, 2008 - 2:10 pm 4. Promoguy:

Interesting that while he was giving his economic address to the nation, huh, the Dow fell from over 200 to about 86. It then recovered.

Have to agree with david, but green around the gills might be an over statement. Might be giving a whole lot of press conferences. But then again, it’ll be the same questions from the same media that help his election.

Nov 7, 2008 - 2:17 pm 5. Barry Dauphin:

What’s Nancy Reagan got to do with anything? Oh, that was a joke?

Nov 7, 2008 - 2:27 pm 6. Promoguy:

Should have said….Might NOT be giving……..

Roger, we need edit buttons.

Nov 7, 2008 - 2:55 pm 7. Roy N:

If you can keep being this reliably wrong your posts will be money in the bank.

This talk about capital gains tax rates and revenue piqued my interest. Here is a good briefing:

http://www.cbo.gov/doc.cfm?index=3856&type=0

Short version….

There is short- to medium-term inverse correlation between tax rates and revenue chiefly because people can choose when they realize capital gains. Longer term relations are “neither predictable nor obvious”. Also, the effect of capital gains tax on growth is small compared to other forms of capital tax.

This of course is the best of all possible news. Because the consequences of tax policy are “neither predictable nor obvious” you should be able to find plausible reasons to traduce Obama whatever he does about tax or any other economic issue. Doubles all round!

As well as an edit button I could really do with a spell checker.

And a grammar checker.

And a style and clarity checker.

Nov 7, 2008 - 3:24 pm 8. davidingeorgia:

amen on the edit/grammar check/style all that…at one point, I had impeccable spelling and grammar and fairly decent writing style, and then I started using a computer for word processing, and it’s been downhill ever since…I meant to say, “way to *stay* classy, Obamassiah” above…

as for how he looked/sounded, I did say a “little” green around the gills, not a lot…could have been bad lighting too, but I doubt it was coming from a campaign that’s been as careful as his has about how it looks…he just sure didn’t look/sound like a guy who had to know he was going into a room chock full of friendly people ready with softball questions.

Nov 7, 2008 - 4:12 pm 9. Anita Hope:

California might be in for a bigger tax increase in sales tax,as Gov. S. has just suggested an increase that would bring us up to about 10% and it might bethat Sen Obama’s economic advisor’s in that early meeting are now quoting different figures and he was not prepared to answer if the question was
again put before him. We will all find out regardless of what methods were used to get him elected and if promises are reneged on due to financial striff, we will be forced to live with it…
Roger, we all voted for the cannidate we felt would be better, you like most of us, did not like what we saw in Sen. Obama’s past relationship’s and even
his own writing’s. We all care about this country no matter where our political viewpoints take us and now we will all be hopeful that this future Bi-Racial
President, does what is good for his country and all of us. As we have seen the Nation did not follow his recommendation regarding # 8, and if he fails in
regards to fullfilling his promises to those that voted for him, he will face a very angry/ughly country of Demo voters in 4 years.
Let us all hope for the best….what else can we do ?

Nov 7, 2008 - 4:45 pm 10. Anita Hope:

California might be in for a bigger tax increase in sales tax,as Gov. S. has just suggested an increase that would bring us up to about 10% and it might be that Sen Obama’s economic advisor’s in that early meeting are now quoting different figures and he was not prepared to answer if the question was
again put before him. We will all find out regardless of what methods were used to get him elected and if promises are reneged on due to financial striff, we will be forced to live with it…
Roger, we all voted for the canidate we felt would be better, you like most of us, did not like what we saw in Sen. Obama’s past relationship’s and even
his own writing’s. We all care about this country no matter where our political viewpoints take us and now we will all be hopeful that this future Bi-Racial
President, does what is good for his country and all of us. As we have seen the Nation did not follow his recommendation regarding # 8, and if he fails in
regards to fullfilling his promises to those that voted for him, he will face a very angry/ughly country of Demo voters in 4 years.
Let us all hope for the best….what else can we do ?

Nov 7, 2008 - 4:47 pm 11. Lightnin' Hopkins:

However Obama may treat cap gains or other rates in the short term, the Bush tax cuts in general will expire in 2010. You can bet the farm rates will go up across the board at that point, if not sooner.

What’s truly frightening is that Democrat-controlled congresses in the modern era have increased spending at almost twice the rate of Republican-controlled congresses – regardless of who is in the Oval Office.

Having lost a nice chunk of money in the form of mutual funds in the past month alone; and with Obama, Reid, and Pelosi riding that “righteous wind” of theirs – trailing clouds of glory, Chris Matthews assures us – I just “hope” to have a little “change” left in my pocket come 2012.

Nov 7, 2008 - 8:13 pm 12. el gordo:

Anita Hope,

Let us all hope for the best….what else can we do ?

I don´t know…what did the Democrats do after the 2000 and 2004 elections? That seems to have worked. Ah yes: character assassination and hysterical opposition that put politics over the interests of the country.

Nov 8, 2008 - 5:43 am 13. Roy N:

Here’s a prediction (about the future). Capital gains tax revenues will be down for at least the next two years whatever Obama does with tax rates. Total tax revenues will be down.

Probably, demands for spending will be up just to maintain a ’steady as she goes’ programme, never mind trying to do anything new, let alone radical.

GOP dodged a bullet on Tuesday.

Nov 8, 2008 - 7:00 am 14. qwfwq:

All those insignia and new designs reveals a disturbing frame of mind, I think.

Reminiscent of the 30s.

Nov 8, 2008 - 7:24 am 15. Jay Season:

Capital gains: stop making a virtue of of selfishness!

Hey, anyone else catch the great Dumb and Dumber quote from Friday’s presser?:

“It’s not going to be quick, and it’s not going to be easy to dig ourselves out of the hole that we’re in,” Mr. Obama said

Dig out of a hole, huh? That’ll do it.

Nov 8, 2008 - 8:17 am 16. Paul:

This guy has Obama pegged.

http://newpaltzjournal.com/?p=1020

Nov 8, 2008 - 9:28 am 17. gippergal:

I think it’ll be fascinating to see what happens with his time: domestically, the big problem is the economy, but internationally, security is obviously still a big threat (you’re right – he did look green around the gills).

But because he got elected on his domestic promises, spending time on international issues might not play well with his constituents. He certainly sounded grim about Iran.

And if his time is spent on international policy, then that leaves his advisors/underlings/imported Chicago liberal illuminati to craft domestic policy and get him to rubber stamp it.

One thing is for certain: how on earth does he propose to fund a second stimulus package??!!??

Nov 8, 2008 - 10:48 am 18. Terrye:

My guy did not win and while I feel slightly queasy everytime I look at Obama I do hope he does not screw things up any more than they already are.

As for capitol gains or any other tax hikes, I don’t get why he is even making an issue of this right now. It would seem to me that just letting the Bush tax cuts expire would accomplish the same thing.

Nov 9, 2008 - 4:23 am 19. Nobody:

To Roy N,

Such a statement can only be made by people who don’t know stock investors. The effect can’t be measured so far out because too many other variables come into play to know. But if you know individual stock investors, and how much they work to avoid high capital gains taxes (by selling some holdings at a loss, and rebuying them to offset other gains), you know that it keeps revenue down.

Nov 9, 2008 - 10:15 am 20. Roy N:

Nobody,

Sure. I don’t see the contradiction between what you said and what I said!

Nov 9, 2008 - 12:42 pm 21. Victor Erimita:

Many are predicting the Dems will constrain themselves on tax hikes out of fear the resulting economic damage will hurt them politically. But this is a rational argument. Tax hikes are religion to the Dems. You can argue all you want that tax hikes will increase tax avoidance behavior and affect economic decisions, resulting in lower tax revenues, or at least diminishing revenue returns for the damage done to the economy by the rate hikes. It’s like telling a Muslim he’d better not fast at Ramadan or he might get a tummy ache. They will do it because it is what they believe.

Nov 9, 2008 - 2:27 pm 22. hermie:

You have to remember, there are plenty of those evil millionaires who should be taxed 40% 50% 60% 70% of their wealth…Like Clooney, Streisand, Winfrey, Buffet, Emmanuel…

Nov 10, 2008 - 6:10 am

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