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Same on every point. History will not look kindly on Obama -- the most divisive and polarizing figure since Lincoln -- and this coming economic malaise will be all his, not the republicans.
The entitlements are a crushing train coming right at this country -- your kids and mine and our grandkids will all be paying for the ineptitude and lack of will to live within our means right now.
As for fixing the tax code, I could go on for hours... I'm all for supporting legit charities (family foundations a tad too close) and tax-exempt orgs, but think about the bonanza of being able to donate appreciated property without paying taxes on the upside. I've also made the point that "carried interest" provisions are ridiculously unfair advantage to PE firm and hedge fund owners... almost same for small business owners, but I'd make carve outs for legit small businesses employing say up to 500 employees, and give them some hiring credits too. Hey, I've got plenty to take care of my family and others counting on me incl charities I'm close to, but these carried interest and charitiable donation benefits are crazy -- just like Buffett has said. I get that he gave much of it all away and that's good. and so will we... but frankly, I'm sure Bill and Melinda will spend it wiser than Obama would have (free cell phones for welfare recipients and free health care for everyone!).
Those things get largely fixed by increasing the capital gains tax rate -- but notice how the pols left and right decided to stop chasing the real money (tax deferred carried interest)... too much pol contributions come from that source -- so let's have everyone focus on top bracket rates as if that matters. It is too much to not smile.
Hey, If we are going to let the PE firms and hedge fund owners continue to carry that like, why not let rock stars and authors defer royalty payments, painters defer sales proceeds, and corp execs defer ITM stock option gains on exercise? It really is ridiculous if you think about it... but now I'm getting off to Warrenville...
Poor Mitt -- back he goes to making millions and not having to explain why he didn't take his full tithing deduction to let him show a 14% effective tax rate. lol
enough from me on all that...
hmmnn, you actually think you can tell me what to write here? LOL Funny to think I must have you on ignore because i had to sign out to see your post and there is no reply key on it... then, when i sign in, your post is dimmed and blanked. Now, having seen some of your posts I don't see where i mentioned anything about you unless you were the guy saying $50 before $38. LOL
But to your comments.
As for my financial wherewithal, managing money for three decades has been fruitful... you would likely be surprised how much I know about the topic and personal wealth building and management. LOL
Clinton had the personal morals of a gorilla on steroids, but lots of guys with big egos will think with their privates even without young hussies throwing themselves at them. LOL So on that alone I have little regard for Bill's character, but if the rumors that Hillary is gay are correct, well, someone has to play the fiddle or someone else will be found.
As for his presidency, I have, as a self-aware and reasonably well-educated patriot, not cared much for most of the career politicians I've known and studied over the years. That is true for republicans and democrats alike... Geithner was appointed, I realize, but there he sits, scheduled to resign in january, trying to make himself out to be the "brains" behind Obama's "brilliant" pin the tail on the donkey stupidity. Geithner and Obama have spent their careers gladhanding and #$%$ kissing and from their irresponsible and inflamatory and dangerous posturing this week, it is obviously they know nothing about negotiating in good faith or the art of compromise. It's worse and a lot less effective and more polarizing than "My way of the highway"... it's "My way or FY. " even if we don't understand how damaging that will be near term or to the next four years of do nothing political scene in DC."
As for making money on GMCR near term? Markets dynamics aside (a big assumption for a second), my views on either a quick shakeout handle and upside resumption or the more likely sharp pullback have been aired fully here. Our levels have also been simply stated for the read. At the next tier of thought, as a long (let me guess unhedged) you can hope Obama starts smelling and drinking something really strong like Peets Italian roast... otherwise, he's the pilot flying the plane and he'll be crashing us into the fiscal cliff. if that unfolds, it is going to be a scorcher of a mess for the market, eliminate the nascent recovery underway despite his sophomoric policies, crimp healthcare reimbursements, hurt the capital markets for years, raise taxes for everyone, and generally tube the economy. The stupidity of all that is mystifying, but then, these guys have never had real jobs (apart from Geithner cow-towing to Sandy Weil and Dimon and the like. Who is to say there would be any quick fix of any of that if the Dems aren't going to be serious about entitlement cuts now or next month or two days after that?
But as for Clinton's legacy politically? I don't understand any of your comments other than discounting entirely your hussie comments, but old Bill was actually brilliant beginning at the start of his second term... Yes the country was going well on the coattails of the Reagan boom years and policy, and yes the Tech boom drove billions of unprecedented capital gains tax revenue, and yes the economy was plenty strong to endure the "Clinton tax rates" on all of that. Yet history will be very kind to Bill because right at the start of his second term he immediately moved to the CENTER OF THE AISLE -- not a lean toward the center -- TO THE CENTER of the aisle. He respectfully considered and incorporated others' views and generally played well with EVERYONE inthe capital and also had at dramtically better sense of negotiating and business administration than Obama's whacky ego is ever going to permit.
Obama's legacy will be a dark brown stain if he doesn't snap his head out of the dark space -- literally within the next few days.
Finally, please put me on ignore. Then we'll be square. Besides, I'm done sharing my perspectives on anything with you or anyone else trying to dis me or tell me what to do or write here or anywhere else. My comments are shared here for those with some civility and mutual respect. You may notice that several very bright people have disagreed with points I've made and we all get along well advancing the dialogue because of that.
You must be one rich SOB... You should run for office with all the great ideas you have.
I may be proven wrong as you mentioned above, and time will tell, but I think the same sort of predictions of failure were made about Clinton and the results from his presidency proved to be the best thing for this country. It was so good that they planted that little #$%$ to frame him and try to impeach him, but that failed too. I think that this country has seen some great leaders in the past and that will continue. Enough political talk let's just talk about something we have in common here GMCR and making money.
Yeah, I'll drop it too, but did want to say you are dead on with the tax rate focus being completely misguided. The real issue is how you caculate income. The accounting profession has done a fine job of it, but mingled into the social document that is our tax code is a disaster.