We are screwed economically speaking. And I think this is the end of a chane at Obama's reelection.
http://bottomline.ms...cession-worries
I don't think it's solely Obama's fault since the economy is based off of more than just one man, but there hasn't been much "change" from 2008 when he was elected with our economy. People are still being laid off, revenue is down, and there's still a lack of faith in our government.
Recession Round 2?
Started by
swmr545
, Sep 22 2011 11:16 AM
5 replies to this topic
#1
swmr545
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Posted 22 September 2011 - 11:16 AM
"We must recognize that this short life can neither be ennobled or enriched by hatred or revenge."
RFK
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#2
rpo
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Posted 22 September 2011 - 11:37 AM
It is quite possible. I also believe that everyone in the media gives way too much credit to the President for the economy. Depending on which political party holds the White House, you always see the opposing party blaming them for the economy, not creating jobs, etc, even though if they were in charge nothing would be different. It is all political fodder.
#3
(MaxineR)
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Posted 22 September 2011 - 03:13 PM
As a person that owns a small business, I think I speak for most like myself in saying, there is NO confidence in growing one's business during the current administration, or of opening a new business.
Blame will be casted on this person or that, but current businesses KNOW what has happened in the last two years and have the proof in their profits, or lack thereof, to prove it.
The costs of opening a new business is unknown to those who have never done so. Nor do they care. But you have a job only because someone took the risk of investing a very large sum of their money in a business, in hopes it would produce a profit, which they took after passing down a great deal of it to their employees and the expenses it takes to keep a business running.
I've seen business owners place a second mortgage on their personal property in order to try to save a failing business. Most know better than to do that now, with our current business environment. The risk is just too great.
If you have a government job, you should be just as concerned with your future, as anyone else. Want to keep things as they are today? Vote for Obama. Your job WILL be effected, because private businesses PAY your salary as well as working tax payers. You will see more lay offs if Obama serves another term in office.
The government has NEVER paid for the running of this country nor the businesses that support it. Businesses, small and large and people holding jobs, have paid for every penny the government spends. When government spends foolishly, we ALL go down.
Wise people vote for a qualified person, fools vote for a personality.
Blame will be casted on this person or that, but current businesses KNOW what has happened in the last two years and have the proof in their profits, or lack thereof, to prove it.
The costs of opening a new business is unknown to those who have never done so. Nor do they care. But you have a job only because someone took the risk of investing a very large sum of their money in a business, in hopes it would produce a profit, which they took after passing down a great deal of it to their employees and the expenses it takes to keep a business running.
I've seen business owners place a second mortgage on their personal property in order to try to save a failing business. Most know better than to do that now, with our current business environment. The risk is just too great.
If you have a government job, you should be just as concerned with your future, as anyone else. Want to keep things as they are today? Vote for Obama. Your job WILL be effected, because private businesses PAY your salary as well as working tax payers. You will see more lay offs if Obama serves another term in office.
The government has NEVER paid for the running of this country nor the businesses that support it. Businesses, small and large and people holding jobs, have paid for every penny the government spends. When government spends foolishly, we ALL go down.
Wise people vote for a qualified person, fools vote for a personality.
#4
The Average Joe
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Posted 22 September 2011 - 03:47 PM
I tend to agree with RPO on this one that generally speaking, any President is given too much credit both good and bad for the way things are.
HOWEVER, this President is the exception to the rule. By constantly casting businesses and corporations as greedy faceless groups unwilling to pay "their fair share," casting corporate CEO's as evil ne'er do wells, and going to the class warfare card every chance he gets, this President has killed any incentive for those that invest and take risks to do so.
He is also guilty of appointing heads to departments that share his hostile view of business which result in far reaching regulations that serve to impede any new businesses or expansion of existing businesses.
Oh, and don't forget the health care issue that businesses have to deal with.
And his insane ideas about spending...
What did he expect would happen? He sets the tone of the government, and right now, that government is extremely hostile to business and those that invest.
Duh. Just do a search for comments from large corp CEO's on what they think of Obama and his political/economic strategy.
HOWEVER, this President is the exception to the rule. By constantly casting businesses and corporations as greedy faceless groups unwilling to pay "their fair share," casting corporate CEO's as evil ne'er do wells, and going to the class warfare card every chance he gets, this President has killed any incentive for those that invest and take risks to do so.
He is also guilty of appointing heads to departments that share his hostile view of business which result in far reaching regulations that serve to impede any new businesses or expansion of existing businesses.
Oh, and don't forget the health care issue that businesses have to deal with.
And his insane ideas about spending...
What did he expect would happen? He sets the tone of the government, and right now, that government is extremely hostile to business and those that invest.
Duh. Just do a search for comments from large corp CEO's on what they think of Obama and his political/economic strategy.
"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive" -- C.S. Lewis
If the only way to combat "global warming" was to lower taxes, we would never hear of the issue again. - Anonymous
"Society in every state is a blessing, but Government, even in its best state, is but a necessary evil; in its worst state an intolerable one" — Thomas Paine, 𝘊𝘰𝘮𝘮𝘰𝘯 𝘚𝘦𝘯𝘴𝘦 (1776)
#5
rpo
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Posted 22 September 2011 - 06:25 PM
I tend to agree with RPO on this one that generally speaking, any President is given too much credit both good and bad for the way things are.
HOWEVER, this President is the exception to the rule. By constantly casting businesses and corporations as greedy faceless groups unwilling to pay "their fair share," casting corporate CEO's as evil ne'er do wells, and going to the class warfare card every chance he gets, this President has killed any incentive for those that invest and take risks to do so.
He is also guilty of appointing heads to departments that share his hostile view of business which result in far reaching regulations that serve to impede any new businesses or expansion of existing businesses.
Oh, and don't forget the health care issue that businesses have to deal with.
And his insane ideas about spending...
What did he expect would happen? He sets the tone of the government, and right now, that government is extremely hostile to business and those that invest.
Duh. Just do a search for comments from large corp CEO's on what they think of Obama and his political/economic strategy.
So, do you think corporate tax loopholes should not be fixed? Do you think corporations should not receive tax breaks for sending jobs overseas? Those are the things Obama has proposed over and over that keep getting shot down.
As for appointing people that are anti-business, would that include the CEO of GE?
As for claiming corporations need to pay their fair share, I have only heard Obama state that about the rich. I fully agree that the rich need to pay higher tax rates. What about going back to the tax rates under Reagan? We have to increase revenues in order to balance the budget as there is only so much that can be cut (unless we decimate the military budget, which republican's would not cut).
#6
(MaxineR)
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Posted 23 September 2011 - 04:23 PM
Just what is "Their fair share"?
According to AP Fact Check:
Those with incomes of $50K-75K pay 15% income tax.
Those with incomes of $40K-$50K pay 12%.
And those who have incomes of $1 million and over pay 29.1%
Tax loop holes come with strings attached. One must spend a certain amount of money in order to get a deduction, or take advantage of a loop hole.
I guess having a baby would be considered a loop hole as you get a deduction every time you have one.
For those who own businesses, there are loop holes as well. I know a small business owner who gave her staff of 15, all bonuses, and took a deduction on that sum, rather than pay the government more taxes.
Money must be spent in order to get a deduction off your taxes, or what some like to call, "Loop Holes".
According to AP Fact Check:
Those with incomes of $50K-75K pay 15% income tax.
Those with incomes of $40K-$50K pay 12%.
And those who have incomes of $1 million and over pay 29.1%
Tax loop holes come with strings attached. One must spend a certain amount of money in order to get a deduction, or take advantage of a loop hole.
I guess having a baby would be considered a loop hole as you get a deduction every time you have one.
For those who own businesses, there are loop holes as well. I know a small business owner who gave her staff of 15, all bonuses, and took a deduction on that sum, rather than pay the government more taxes.
Money must be spent in order to get a deduction off your taxes, or what some like to call, "Loop Holes".
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