It would also stop people who don't pay anything, due to low incomes, from free-riding on the backs of our hard work.
Here is Morgan Stanley's analysis on the Obama's policies - http://groups.google.com/group/Raghavs-Picks/attach/e6a5b398e0c35b90/OBAMA_POLICIES.pdf?part=4
The tax implications for top earners is pretty drastic. That one will hurt a bit, but nothing compared to estate taxes - ouch.
Labor Unions - I'm not of one, but taking away the secret ballot of selecting union leadership will be devastating. To my understanding, it will allow for far too much influence and intimidation of union members. Are there any union guys out there? Speak up on this one.
Other areas he covers - health care, energy, trade, credit, regulatory reform and economic rescue (because $700Billion + $150Billion in earmarks just isn't enough).
Read and comment. I will create separate posts for any hot topic and I'm hoping our resident Obama expert (Mr. Tony Vescio) will lead the parade...and give us some food for thought.
Friends, Countrymen, Tony....let's talk about the future.
2 comments:
I am all for taxes, especially tabacco tax as it pays for Roial's awsome preschool. I see the importance for it and I tend to take the Democratic line. However, I have a problem with stimulus checks. I don't want one, keep it. It's a terrible concept. That money should be either left where it is or put into a workforce fund which would stimulate the economy in the long run. I hate that people follow Walmart's advice and cash and then spend their check there. It is insulting. Happy smoking!
stimulus checks - my guess it that the majority goes to pay off people's credit card debts...rather than be spent on goods and services.
from MSN money -
American consumers owed a grand total of $1.9773 trillion in October 2003, according to the latest statistics on consumer credit from the Federal Reserve. Thats about $18,654 per household, a figure that doesnt include mortgage debt. The number is up more than 41% from the $1.3999 trillion consumers owed in 1998.
all i have to say is..wow. that is unbelievable. and congress just passed 700 billion to bail out banks, and another 150 billion in earmarks for pet projects.
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