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RPM International Inc. Message Board

  • the_millionaire_next_door the_millionaire_next_door Mar 17, 2006 11:58 AM Flag

    question

    Sorry to bother the group, but what's the likelyhood of the tax cuts (div tax rate and long term cap gains tax rate) being repealed? I haven't been following my politics...

    I imagine if the 15% rate on dividends is repealed that would be bad for the stock price of higher dividend payers like RPM.

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    • Enough of the political talk -- Please

    • the_millionaire_next_door the_millionaire_next_door Mar 29, 2006 10:52 AM Flag

      I remember Hillary's plan ending differently than that. Her plan was proposed in '93. The Republicans were overwhelmingly voted into majority of both houses partly as a result of the fear of that plan. Republican control effectively killed any chance that plan ever had. Hillary was quoted to say "You may remember that we tried to do that [pass her health care bill] in 1993 and 1994. We weren't totally successful, but I did not give up." (February 22, 2000)

      So she really didn't "pull it off the table" as you suggest. The American public rejected it. She still wants it.

      As for the war... Liberals consistently forget that their own leaders are on record (Kerry included) as saying we need to disarm Iraq. You can argue about how the war has been handled, but there was bipartisan support for it. Congress is required to financially support wars and they have. It is intellectually dishonest to claim that Bush alone went to war in Iraq. The UK, Australia, and Japan are well-represented there today as well.

      I'm not Bush's personal apologist, either. I don't think we needed to spend money to create a whole new department of homeland security. We should have fixed the CIA and FBI and allowed them to communicate more effectively. Unfortunately, having worked for a defense contractor, I have seen first-hand how various government departments often play the empire-building game. There are several other things I think he gets wrong, too. Border security is one. That being said, I support this war for two reasons: 1) I believe we are safer from terrorists as a result (they are stuck fighting the war over there, and they see that we actually have the resolve to defend ourselves and deal with them). 2) There is a lot of un-reported good happening in Iraq. Schools, hospitals, and a whole lot of infrastructure is being rebuilt. Mass graves are no longer being created and filled with the bodies of dissidents (sp?) I don't see the desire to free millions of Iraqis from dictatorship and substantially improve their lives as "megalomaniacal". If anything is it humanitarian, though expensive.

      The budget surpluses were partially the result of a bubble economy. Here's a case in point. Businesses like Lucent were booking tons of revenue because dot-coms were building infrastructure. They were buying all of Lucent's telecommunications equipment on credit because they were going to make it big with their internet business (Pets.com or swap.com are two huge failures). IPOs were rampant and stock prices were high, but only a small fraction of these companies had any revenue or any real chance of survival. The economy inflated on venture capital and debt and then popped - and we all know the rest of the story. 2001 and 2002 saw stocks fall to multi-year lows. One can blame the president for this, much the way Herbert Hoover was blamed for the depression. But every bubble has to pop. For Bush, it just happened to start as he was taking office. For Hoover, it was the tightening of the money supply that popped that bubble. I'm glad this administration had the sense to lower tax rates to stimulate the economy. When Roosevelt took office in '32, he went on a quest to raise tax rates and fund large government projects and create a welfare state. Many economists belive that this prolonged the depression for several years.

      As for the world sending "good feelings" our way after 9/11 - so what? What good does that do? They also derided Bush for labeling Iran and N Korea "evil" and now they are in agreement with him. I have a separate conclusion. Spending aside, I think historians will put Bush among one of the stronger leaders in this nation's history.

    • The stock price needs to be >20 to think about a split. The real issue is asbestos.

    • Does anyone have any idea about the release on April 6? I have noticed historically that this may be a good time for a split in stock price. If anyone has any idea about the content of the conference call, lay it on us.

    • Amen!

    • the_millionaire_next_door the_millionaire_next_door Mar 24, 2006 1:54 PM Flag

      I certainly share some of your feelings. I get a bit worked up when I read about the UnitedHealth CEO getting $125M in compensation in one year. And that's from a non-profit organization.

      It is also stupid for the flexible spending plans to have the "use it or lose it" rule. I would put a lot more pre-tax money into a flex plan if I knew it would carry over year-to-year. HSAs would at least be an improvement in that area.

      I'm sure both of us could go on and on...

    • And in the meantime we have citizens of the United States paying good money for health insurance that gets cancelled when there is a catastrophic illness that affects their family. the health industry dictates to the doctors on what methods they are allowed to use, all for a higher profit.

      Do I think that we should have nat'l health coverage, no way! Geez the gov't can't even keep the roads in decent shape. We are so screwed up that we have to bring in foreign companies to manage our roads.

      We're so screwed up that we expect our politicians to "fix" social security, when they aren't even in the system themselves. I imagine if it hit them in the pocketbook they would get right on it.

    • Greetings,

      I can't resist to jump in (It's been more than 1 year I wrote a msg on this board). I am a Canadian living in USA. I left Canada for 3 reasons:
      - Incredible taxation rate that makes a 50k$ pay base per year bring home 980$ per 2 weeks pay (In NH, the same pay brought 1640$).
      - The highly inefficient government corrupted at all levels (federal, provincial, town).
      - The nationalized health care system with no choice to go to get private care if you want to pay. You do not have the choice to get threated in the system.

      One personal story to illustrate how bad the system is:
      - My father had to get stents for clogged artheries in 2004. he lives in Quebec province. At almost the same time, my boss in NH had to get the same surgery. It took 6 months for my father to get the surgery done starting the day the first visit to the familly doctor and the immediate referral to a heart surgeon (the sooner he could get an appointment was 2 months). It took 1 day for my boss to get it done (PCP on Thursday morning, Thursday afternoon the hearth surgeon, Friday morning the surgery).

      I can share another story: In Quebec city (Again), the Ministry of Health spent 65$ millions to build a new building on an hospital land to host a new nursery department. 4 years after, it is still emplty because there is a lack of budget to pay the staff and the half missing equipments.

      Those are only examples in the health care system. Don't make me go about the transport, justice, social and education systems. I could make a book about the stories I saw with my own eyes.

      Thank you

    • the_millionaire_next_door the_millionaire_next_door Mar 23, 2006 11:53 AM Flag

      You and I draw separate conclusions about the cause of and solution to high health care costs.

      I need only look to Canada to see what nationalized health care would become. Google "Canadian health care crisis" and see what you find. Residents there spend 40+% of every tax dollar for medical expenses, then get to be put on a waiting list for a few years to get a torn ligament in their knee repaired.

      My general rule: If you think something is expensive and inefficient now, just wait till the government runs it.

      What we need is more personalized control of our health care dollars. Health savings accounts are a huge step in the right direction, IMO.

      We also need tort reform to help bring down insurance costs in the health industry. Unfortunately, the dems are supported heavily by the trial lawyers and therefore want to perpetuate the litigation-fest we have now.

    • realinvestmentstrategies realinvestmentstrategies Mar 17, 2006 1:27 PM Flag

      <what's the likelyhood of the tax cuts (div tax rate and long term cap gains tax rate) being repealed?>

      The likelyhood is equal to that of a Democrat getting elected president in 2008.

 
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