Obama’s been so kind to Wall Street that it’s a shock they all seem to support ‘fat cat’ Romney instead

[papasmurfbell]

http://current.com/shows/the-young-turks/videos/obamas-been-so-kind-to-wall-street-that-its-a-shock-they-all-seem-to-support-fat-cat-romney-instead

[thundercleetz]

Ugh I cannot stand Uygur! One reason Wall Street is not supporting Obama is because he wants to raise long term dividend and capital gains tax to 25% from 15%.

[papasmurfbell]

But he did nothing to hurt them over the last 3.5 yrs. They have bailed out on him. Now if he wins on the 6th he coukld cripple them making the far left happy and not hurt any contributers.

[thundercleetz]

But he did nothing to hurt them over the last 3.5 yrs. They have bailed out on him. Now if he wins on the 6th he coukld cripple them making the far left happy and not hurt any contributers.

 

Wall Street is like the NFL, it's a what have you done for me lately league. They don't like what he's saying simple as that.

[papasmurfbell]

Well normally people in politics hedge their bets. In 2008 they put in with Both McCain and Obama. Not this time. He owes them nothing this time around.

[thundercleetz]

Well normally people in politics hedge their bets. In 2008 they put in with Both McCain and Obama. Not this time. He owes them nothing this time around.

 

I guess we'll see what happens. All I'm going to say is if the long-term dividend and capital gains taxes are raised people will hoard their money like you've never seen before. You've been preaching moral restraint when it comes to taxes in your previous posts, well be prepared to be disappointed because people will utilize every legal loop hole available. And I am not just talking about really rich people, I am talking about normal people who rely on dividends and capital gains for income to survive. Add in the fact Obama wants to institute a $2,000 per employee tax on businesses to pay for Obamacare, and an already weak real estate market is going to have an additional 4% house sales tax and it is obvious why Wall Street is abandoning him.

 

You may be right, Obama may not owe Wall Street anything. But if we experience another market drop like we did in 2008, you have to wonder what will happen? Are businesses really going to hire more people? Who knows, maybe it has to get worse before it gets better...

[papasmurfbell]

I already expect another market crash but worse. It make no difference if Romney or Obama are there. This time he may hand them their heads.

[thundercleetz]

I already expect another market crash but worse. It make no difference if Romney or Obama are there. This time he may hand them their heads.

 

He had his chance to do that already to do that. Instead he bailed the banks and motor industry out. That was the chance to implement whatever tax reforms or to close corporate loopholes. We were already at rock bottom. If there is another market crash like 2008, the public will not be so forgiving this time around. Decreasing unemployment will be near impossible at that point.

 

I do agree with you though: the market is due for a correction. Really whatever president that gets in there is going to be thrown right into the fire. Should be interesting to see what happens.

[RavenMad]

Romney is a dick. Here is another piece of his BS: http://autos.yahoo.c...HQDc3RvcnlwYWdl

[thundercleetz]

Romney is a dick. Here is another piece of his BS: http://autos.yahoo.c...HQDc3RvcnlwYWdl

 

Believe me, there is plenty of BS to go around in American politics. It will not matter who wins the election. In relation to the article above, I actually agree with what President Obama said in the second debate (I believe), some jobs we will just not get back. Some of the production costs in China are impossible to compete with. Instead of crying over spilt milk, the focus should be on correcting the balance of trade with China to stop the bleeding.