« Tripping on the Path to Retirement | Main | Where I was »

September 09, 2008

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Just_Me

Well, I guess I'm out. Really enjoyed your posts that actually dealt with early retirement but seriously nobody needs any more candidate bashing right now. We readers see more than our share every day splashed all over the Internet.

Oh and by the way, I notice you're not actually "deciphering" anything with this blog post as the title insinuates. You're just using it as a grandstand for transparently biased political views, and I guess you honestly believe you're sapient enough to convert the minds of strangers to your way of thinking. Welcome to Everybody Else.


dogatemyfinances

You have probably met many undecided voters. However, most just give an insincere version of the local party line (mine is the opposite of yours) to avoid conversion/conversation like this.

Retired Syd

Oh I definitely don't think I could convert the minds of strangers, but you do have it right that I'm using my blog to "grandstand for transparently biased political views", no hiding that. (It's actually more like venting.)

Maybe you'll come back after the election. Right now retired life affords me unlimited time to follow politics, which I find amazingly exciting and important. So I can't guarantee that I won't do some more grandstanding in the next 57 days. It's just a little more fun to write about than what I ate for lunch today.

Syd

boomie

I'm a registered Independent and I have NOT made up my mind on whom to vote for.

Here's one of your quotes:
"What I and many of my more liberal friends want is to HELP people, not give them a free ride, but also not to ignore those who would benefit from us tossing them a life jacket."

If you want to help someone, donate your OWN money or volunteer at your local charity of your own choosing.
Obamas' tax proposal will give a family of five (wife, husband and 3 children) who earn $35,000 a year and thus pay no taxes, a refundable credit of $2200, in a check, per year.

How does he get this money? He finds another family of 5, who are self employed and earn $213,000 a year. Right now, they are paying 28% on their profits. Should their business prosper next year, instead of paying 33% on an income over $250,000 Obama will increase the tax rate to 36%. Should they earn even more money, Obama will raise that tax rate from 36% to almost 40%. Kind of makes you want to go out there and work real hard and earn more money so that someone can take it away and give it to a family who doesn't even pay taxes?

What would you do?
I'd stay home and earn only $32,000 and wait for the $2200 bonus coming my way.

Should your money be invested and you actually earn a profit, under Obama your capital gains tax will rise from 15% to 20%. Quick, where's my broker, I want to buy more shares of Apple, Inc. NOT!.

And let's not forget the middle class. That family of 5 who earn $64,000. Under Obama they get back a whopping $500. Whoop-de-do. Where's the closest shopping mall?

Obama wants to eliminate taxes on Seniors making over $50,000 a year. Quick, tell me, where are those seniors working? I want a job there?
Obama also wants to give a 50% tax credit equaling $6000 to those same low income families. OMG, I want to be a low income family. Honey! Dump those ungrateful kids college investment plans. Let's be broke and poor. We will have it made in the shade.

Obama's plan is unsustainable. Eventually the 'rich' will tire and cease working. I know I have. I'm exhausted! What will everyone do when the rich decides to give up? Tell me?????

The only way to correct the mess we are in now is to create jobs (where are the jobs Obama???) and increase wages. If ALL people have more money in their pocket at the end of the week we can continue on our paths of consumption. Isn't that what is making the whole world spin around? (Hopefully this time around, we'll all be a bit more conservative in our borrowing patterns)

How do you create jobs and increase wages? BY CUTTING TAXES ON BOTH PEOPLE AND BUSINESSES!!!!! McCain is going to double the dependent exemptions from $3500 to $7000, so those 3 kids will net you $21,000 off your taxes vs. $10,500. McCain is going to reduce corporate taxes, keep capital gains tax at 15%, provide a $10,000 write off for health insurance premiums for all, which will help all people with or without health insurance.

These next 50+ days are showing me the candidates true personalities. The left are calling Sarah Palin nothing more 'than a garbage bag for her husband's sperm'. Nice. Very Nice. Obama called her 'a pig in lipstick'. Disgusting.

Keep it up guys and gals.

I'm enjoying all of this.

Leslie

How is McCain going to pay for the extra tax credits for dependents? He has said he is not going to tax anyone extra but he said he will balance the budget. How is he going to do this?

Retired Syd

@Boomie: Well see, there, you don't sound undecided at all. You sound like an issues voter (taxes are your hot-button issue). So I say you vote your conscience on the issues, why are you undecided then? You absolutely should vote how your passions lie and it is clear from your comment where your passion is. Why on earth would you consider voting the Obama ticket?

Who you vote for wasn't really the point of my post (that was just a little self-indulgence), it was really that I don't get being undecided when you know whose party is consistent with your values and beliefs. You should vote consistent with that.

I'm sure I'm missing something . . .

Retired Syd

@Leslie: That is a question I've wondered myself. The answer is cutting spending, of course, but I'm not sure where. I would like to know where that is too.

As a side note, I am one of those people that stand to lose from the Obama tax plan, but I have never minded paying taxes. I view it as the price we pay to live in civilized society. I didn't quit my job because I was being taxed too much -- I quit because I hated working. If you lowered the tax rate, I still wouldn't go back to work.

Leslie

Hi Syd,

I am also one who would be taxed more under Obama's plan but I still plan on voting for him. I prefer that my tax dollars be spent on education rather than more bogus wars.

Retired Syd

@Leslie: Well, you bring up another interesting point. I have done a totally unscientific poll, and with the exception of two people, everyone I know that makes enough to see a tax increase under Obama's plan is actually voting for Obama. Granted, I live in democrat territory, but I also live in territory where a whole lot of those top 3% earners live.

boomie

If you find a product on sale, that you would normally use, what would you do?

You'd buy more of it, right?

So, when a store puts an item on sale, rather than just sell one item for $10 each, they wind up selling 3 items at $8 each, thus making $24.

When you lower taxes on people and businesses, they have more money left over to buy, spend, consume, invest, do research and development, hire more employees.

Thus if McCain lowers taxes, those families and businesses spend, invest, consume thus paying more in sales tax, investment tax, consumer taxes, etc.

That's how McCain can balance out the tax cuts.

There is no doubt about it that I will benefit greatly under Obama because I only earn less than $36,000 per year and soon I'll be collecting SSI. I could use an extra $2200 a year and that 50% tax credit.

But I have to think of the country in long term figures. Obama's plans may work in the short term but they will not work in the long term. Then what? What more trouble will this country be in then?

No, I haven't decided who I am going to vote for. I just found out today that Libertarian Bob Barr has asked Ron Paul to be his VP. Wouldn't that be fun?

I really don't know who I am voting for. But these next 50+ days are going to be eye opening.

Retired Syd

@Boomie: Ron Paul would be fun to watch in the mix. I love him, actually. Did you see the debate with all the men saying who they would consult if they wanted to go to war without getting congressional approval--lawyers and what not. And Ron Paul said I don't need to consult any lawyers, I would just open up the Constitution, it says right there. (Or something to that effect--I'm paraphrasing.) He's so refreshing!

I agree with you, I think it's really fun this time around!

Leslie

@ Boomie: Why is it that this last month alone over 100,000 jobs were lost? Doesn't it seem fair that if businesses keep jobs in this country they should get a tax break but if the send them overseas they should not? That is what Obama proposes.

@Syd: I live in Silicon Valley where many people are also in the top 3% of wage earners.

Steve Austin

I agree with RSyd: things do get exciting this at this time of the election year. It's like a comedy sport that I cannot but watch. I'm rather decided that I won't be voting for either of the Big Party comedians this election year. Both such parties promise their azzes off -- why would/should we believe either? I find them untrustworthy, and thus my vote for either would be a nearly guaranteed Thrown Away Vote. (It's always possible that one of these comedians if elected will actually do what he says he will at this juncture, but I'm skeptical.)

The comments to this entry are closed.

IMG_2799

Enter your email address:

Delivered by FeedBurner

Twitter Updates

    follow me on Twitter