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What makes you think that isn't on the table, too? Just curious.
Or perhaps not. It seems Obummer's been sent from the main office to accomplish things that the Repug's only dreamed about.
No doubt his catfood commission will come out with some necessary "adjustments" to Social Security. In other words, anything and everything is on the table except raising taxes on the rich.
What makes you think that isn't on the table, too? Just curious.
Federal Taxes are progressive. The more you make the more you pay. SSI is not progressive you pay a set percentage of 7.65% unless you are self-employed and then you also pay the other half for a total of 15.3%. The wage base goes up to $106,800 this year so every dollar above that level is not subject to the 7.65% or 15.3%.
Since when does Obama cater to the rich? The Bush tax cuts are expiring in a couple of months which will push tax rates up for everyone. The estate tax exemption will go down to 1 mil. as well on Jan 1. When that happens a married couple will be able to exempt 2 mil at their death. The rest will be taxed at 55% unless it is given to charity.
The fix for SSI will either be to push full retirement age out which has already been done or eliminate the wage base which will put more burden on the wealthy.
Just curious how what percentage do you think someone who makes 30k a year pay in taxes? How about 100k? What about a million?
ing about the rich is funny considering they are already shouldering the load. Maybe you should just tell them Thank You.
A minimum of 10%, at any income. I say no matter what write-offs a person has, they still pay a minimum 10%.
Untill all voters who work are subject to a fair tax rate, the 50%+ that make under a certain income have no problem raising taxes, because they don't feel it. I demand equal suffrage.
People who live in poverty have also had it easy for too long!
I feel for most of them. Still, it gives them no right to vote to raise peoples taxes when it doesn't affect them. My alternative is to say that if you are not a net tax payer, then you have no right to vote.
Small Investors Vote Massively to Hand Social Security to Wall St
August 21, 2010
In Striking Shift, Small Investors Flee Stock Market
By GRAHAM BOWLEY
Renewed economic uncertainty is testing Americans’ generation-long love affair with the stock market.
Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year, according to the Investment Company Ins ute, the mutual fund industry trade group. Now many are choosing investments they deem safer, like bonds.
If that pace continues, more money will be pulled out of these mutual funds in 2010 than in any year since the 1980s, with the exception of 2008, when the global financial crisis peaked.
Small investors are “losing their appe e for risk,” a Credit Suisse analyst, Doug Cliggott, said in a report to investors on Friday.
One of the phenomena of the last several decades has been the rise of the individual investor. As Americans have become more responsible for their own retirement, they have poured money into stocks with such faith that half of the country’s households now own shares directly or through mutual funds, which are by far the most popular way Americans invest in stocks. So the turnabout is striking.
So is the timing. After past recessions, ordinary investors have typically regained their enthusiasm for stocks, hoping to profit as the economy recovered. This time, even as corporate earnings have improved, Americans have become more guarded with their investments.
“At this stage in the economic cycle, $10 to $20 billion would normally be flowing into domestic equity funds” rather than the billions that are flowing out, said Brian K. Reid, chief economist of the investment ins ute. He added, “This is very unusual.”
The notion that stocks tend to be safe and profitable investments over time seems to have been dented in much the same way that a decline in home values and in job stability the last few years has altered Americans’ sense of financial security.
It may take many years before it is clear whether this becomes a long-term shift in psychology. After technology and dot-com shares crashed in the early 2000s, for example, investors were quick to re-enter the stock market. Yet bigger economic calamities like the Great Depression affected people’s at udes toward money for decades.
For now, though, mixed economic data is presenting a picture of an economy that is recovering feebly from recession.
“For a lot of ordinary people, the economic recovery does not feel real,” said Loren Fox, a senior analyst at Strategic Insight, a New York research and data firm. “People are not going to rush toward the stock market on a sustained basis until they feel more confident of employment growth and the sustainability of the economic recovery.”
http://www.nytimes.com/2010/08/22/bu...gewanted=print
==============
The Repugs are closely attuned to Average Joe
Most Americans want out of the wars, Repugs want to keep wasting lives and treasure (although That Old Lesbian Lindsay Graham has flipped in favor of waritus interruptus)
Repugs want to privatize Soc Sec, kill Medicare/Medicaid, and repeal health reform bill, while Soc Sec, Medicare, Medicaid are not only popular but life-lines for recipients.
Now, if the Repugs would just run anti-Midas pitbull in 2012, the Dems would be all set for another 6 years.
Since when do small investors make the right investment decisions. These are the same folks flocking to bonds who will get comfortable sit tight and when rates eventually rise (there is no other direction to go) will get crushed again. Pay attention to where the smart money is going and remember Buffet's quote "be greedy when others are fearful and fearful when others are greedy".Small Investors Vote Massively to Hand Social Security to Wall St
August 21, 2010
In Striking Shift, Small Investors Flee Stock Market
By GRAHAM BOWLEY
Renewed economic uncertainty is testing Americans’ generation-long love affair with the stock market.
Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year, according to the Investment Company Ins ute, the mutual fund industry trade group. Now many are choosing investments they deem safer, like bonds.
If that pace continues, more money will be pulled out of these mutual funds in 2010 than in any year since the 1980s, with the exception of 2008, when the global financial crisis peaked.
Small investors are “losing their appe e for risk,” a Credit Suisse analyst, Doug Cliggott, said in a report to investors on Friday.
One of the phenomena of the last several decades has been the rise of the individual investor. As Americans have become more responsible for their own retirement, they have poured money into stocks with such faith that half of the country’s households now own shares directly or through mutual funds, which are by far the most popular way Americans invest in stocks. So the turnabout is striking.
So is the timing. After past recessions, ordinary investors have typically regained their enthusiasm for stocks, hoping to profit as the economy recovered. This time, even as corporate earnings have improved, Americans have become more guarded with their investments.
“At this stage in the economic cycle, $10 to $20 billion would normally be flowing into domestic equity funds” rather than the billions that are flowing out, said Brian K. Reid, chief economist of the investment ins ute. He added, “This is very unusual.”
The notion that stocks tend to be safe and profitable investments over time seems to have been dented in much the same way that a decline in home values and in job stability the last few years has altered Americans’ sense of financial security.
It may take many years before it is clear whether this becomes a long-term shift in psychology. After technology and dot-com shares crashed in the early 2000s, for example, investors were quick to re-enter the stock market. Yet bigger economic calamities like the Great Depression affected people’s at udes toward money for decades.
For now, though, mixed economic data is presenting a picture of an economy that is recovering feebly from recession.
“For a lot of ordinary people, the economic recovery does not feel real,” said Loren Fox, a senior analyst at Strategic Insight, a New York research and data firm. “People are not going to rush toward the stock market on a sustained basis until they feel more confident of employment growth and the sustainability of the economic recovery.”
http://www.nytimes.com/2010/08/22/bu...gewanted=print
==============
The Repugs are closely attuned to Average Joe
Most Americans want out of the wars, Repugs want to keep wasting lives and treasure (although That Old Lesbian Lindsay Graham has flipped in favor of waritus interruptus)
Repugs want to privatize Soc Sec, kill Medicare/Medicaid, and repeal health reform bill, while Soc Sec, Medicare, Medicaid are not only popular but life-lines for recipients.
Now, if the Repugs would just run anti-Midas pitbull in 2012, the Dems would be all set for another 6 years.
"Since when do small investors make the right investment decisions"
You're absolutely right. If it weren't for small investors losing their money in the rigged casino (like losing 30% of their 401's, etc.) and getting fee'd to death by the croupiers, Wall St would would be worse off.
If you were in the market in '08 you lost unless you bet against the market. Most don't short the market. Small investors lose because they sell their stocks when the market is down and move to bonds or cash. Then when the economy is stronger and they are more comfortable they go back to stocks. At this point the market recovered most if not all of what it lost but not the small investor because they were only in it for the ride down.
Your keep talking about evil Wall Street and their das ly fees. What is the appropriate amount to charge? Do you know about discount vs. full service brokerage firms? Are you familiar with no-load funds vs. loaded funds? How about Exchange Traded Funds?
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