Obama's Bloomberg Interview - Live Webcast

Tyler Durden's picture

With AAPL -2% and stocks at the lows of the day, we wonder whether Obama has bought puts or calls today... President Obama sits down with Bloomberg White House correspondent Julianna Goldman at the White House today for his first television interview since the election to discuss the fiscal cliff - now just four weeks away. Live stream below:

  • *OBAMA SAYS WON'T AGREE TO PLAN WITH `VAGUE' REVENUE INCREASES
  • *OBAMA SAYS WE HAVE `POTENTIAL' OF GETTING DEAL ON FISCAL CLIFF
  • *OBAMA SAYS NO FISCAL CLIFF DEAL `WITHOUT TAXES ON THE RICH'
  • *OBAMA SAYS U.S. ECONOMY `POISED TO TAKE OFF' AFTER CLIFF DEAL

 

 

 

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Cognitive Dissonance's picture

Explain to me again why I should watch this?

<Never mind. I never get the joke the first time around.>

DaveyJones's picture

just tell him prosecuting bankers is like a "special" tax on the "special" rich. 

Freddie's picture

It is a shame that Americans do not have the courage to overthrow muslim tyrants like the Egyptians.  The Egyptains are lucky because their military will side with the people. America has pensioned idiot cowards with grad degrees like General Cornhole Petreaus/Betrayus who are too busy cornholing muzzie chicks with mick names like Kelly.

Tsunami Wave's picture

blah blah blah... stfu you incompitent idiot.

Mr Lennon Hendrix's picture

Oblabla, President of the United States of America.

TruthInSunshine's picture

OBAMA SAYS NO FISCAL CLIFF DEAL `WITHOUT TAXES ON THE RICH'***

 

***Rich = Those making from approximately 50,000 to 500,000 or so, I guarandamntee that's who will pay the highest additional % of their incomes as taxes, whether by the deletion of deductions, or outright changes to increases in marginal tax rates, or increases to or alteration of treatment to particular categories of income (e.g. dividend, etc.).

Tsunami Wave's picture

he'll get his fucking retarded wish... inflation destroys the middle, working and poor classes.  hyperinflation destroys them plus the rich, and everyone else.

redpill's picture

It gets really tiresome watching these fucks trying to turn the debt tsunami facing our nation into one more chapter of "eat the rich" utuopian social agenda bullshit.  The Feds could take every penny earned by people who receive $250k+ income this year and it wouldn't make a fucking dent.  Which is a real problem, because as has been demonstrated many times, once you impose draconian taxes on incrementally high income, people simply stop making it.  So you might get a short term bump in tax revenue, but it quickly vanishes as the earners decide to play golf instead of work for 25 cents on the dollar, and then you have decreased overall economic activity in the long run.  Why these dumbfucks seriously think that is going to turn out better for anyone is beyond me.

jayman21's picture

And they continue to be reelected.   Personal responsibility was last seen somewhere in the 1950s.

eatthebanksters's picture

When he starts saying no more homework because it favors the rich then you know its endgame...just like that dipshit in France.  Say anything to keep the masses happy...that is until it all starts falling apart.  Look at Egypt, then Greece, then Spain, then Portugal, then Italy then out your front door!

Freddie's picture

The Egyptians have courage. They are not cowards watching "college ball", NFL, NBA, NASCAR and American Idol on the HD brainwashing box for idiots.

SmallerGovNow2's picture

BHO doesn't give one shit if it raises revenues or not.  For this lame it's all about "fairness"....

 

I'll tell you what is fair, a flat 10% income tax for EVERYONE and Zip, Zero, Nada single deduction.....

you enjoy myself's picture

yep.  once you stop working from the premise that his priority is actually a vibrant economy then his decisions make a lot more sense.  don't forget TOTUS' answer when charlie gibson, in a rare moment of journalism, asked why O would raise capital gains when its been shown over and over that more revenue comes in from lower rates.

redpill's picture

I disagree, because income is a very subjective thing and can be easily hidden by criminals and the extremely wealthy alike.

What is truly fair is to repeal the 16th amendment, eliminate the IRS, and establish a single point of sale transaction tax on new retail goods and services.  It takes tax compliance out of the hands of those who would exploit it, removing the inherent conflict of interest while getting government out of our private financial lives at the same time.  Want to know how much tax you paid?  It's on your receipt.  Too poor to pay taxes?  Buy second-hand.  Illegal immigrant used to getting paid in cash and not paying taxes?  Sorry you're part of the pool.  Wealthy with a football-team sized group of tax accountants at your disposal that shelter your income in various shell corporations and offshore accounts?  Game's over.  Might as well bring your money back home and save the tax compliance fees.

 

DaveyJones's picture

you just proved why it will never pass. but I agree

eatthebanksters's picture

It's his game...he fools his kool aide followers into believing he s really helping them.  By raising taxes on the rich he looks like Robin Hood to the foolish masses.  By not limiting deductions he let's the rich keep their money.  It's all smoke and mirrors and only the desperate fools who choose not to believe (the masses who voted for him) will end up being used and thrown away like human garbage.  These guys are from Chicago...what they do has nothing to do with helping anyone but themselves and their cronies, they just lie better than anyone onthe planet.

HelluvaEngineer's picture

Rich = You don't have an EBT card (yet)

overmedicatedundersexed's picture

wtf is wrong here on ZH..talk about missing the point...O bum a wants MORE MONEY FOR BIG GOV..I am sick of the bloated fascist central gov we have now and YOU idiots here talk about giving them MORE.. wake the fuck up.

socialist communist EU posters here want big gov want more taxes want the control over every fucking one of us.

eatthebanksters's picture

Rich means you work for a living...even if you make less than the fucktard next door who lives off the benfits of a bloated welfare system...

Mr Poopra's picture

It's naive to assume this is anything but an engineered collapse.  The question is, will your mind allow you to grasp the ramifications of that information.  Enjoy the ride, protect each other, and defend liberty.  The consciousness shift is real.

Stoploss's picture

*OBAMA SAYS NO FISCAL CLIFF DEAL `WITHOUT TAXES ON THE RICH'

 

So be it.. Bring it retard, bring it. 

 

THERE WILL NOT BE ONE SINGLE MOTHER FUCKER LEFT IN THE PRIVATE WORKFORCE.

 

Better start hiring.

yogibear's picture

Being  on the government payroll does have it's benefits. For example if you work for the SEC Wall Street provides you with all the porn you want to keep you busy.

Blankenstein's picture

Obama should start by collecting that $642 million from that hypocritical old coot Buffett.  

 

Uncle Warren:  "taxes for thee, but not for me"

shutdown's picture

A commercial. Typical

Mr Lennon Hendrix's picture

Obama spent some time in the weeds this morning and had a hard time making it in after the round.

Everybodys All American's picture

Drinking game: Take a swig every time his says "folks".

The Gooch's picture

or "uh"

edit: as in "welfare er uh uh wall street reform"

slaughterer's picture

"Let me be clear" fuck you!

akak's picture

"Make no mistake": Obama is a amoral puppet of higher powers, and eagerly sucks their cocks for the chance to publicly play the nation's ostensible leader.

DaveyJones's picture

it's almost as if they all do that. Most rapidly declining corrupt empires share this talent.

climber's picture

He could sell that desk behind him to make some money. The guy from Pawn Stars would cut him a nice deal.

SmallerGovNow2's picture

pawn stars, a glimpse of our future.  learn to barter...

youngman's picture

I am listening...all vague ideas..nothing proposed...not one detail....not one...why can´t he just lay out his ideas...actual ideas...HIS ideas...he is just saying bring me a deal..bring me something...that is not leading folks...this guy is really a loser

Tsunami Wave's picture

*Dun DUN DUNNNNN*

pick 1 reason:

A )  He doesn't have any original ideas

B )  He is an idealogue, whose philosophy is for the rich to... uhhhh.. pay for expensive entitlements.. that can't actually pay for these expensive programmes

C )  He's only waiting for his opposition to speak... so he can shoot down and criticize their ideas

Blankenstein's picture

If there was a journalist left in America that was worth his salt, he would ask the Obaminator to explain his views on the state of the economy and what Fed policies he currently agrees with and what policies he would like to see changed or implemented at the Fed.  No prepared statements, just Obama's assessments and opinions and ideas as youngman said.  Talking at length, a la Ron Paul ,giving in-depth, concrete solutions to our soaring debts and increasing economic problems.  This would expose his lack of understanding of any of the financial problems facing our country.  

 

bulldung's picture

He can't , he knows only bully economics,aka confiscatory taxation for the benefit of the bully. 

Weyland_Yutani's picture

Agreed!

Would be nice to see his college records too but they are sealed off for eternity. I mean, how would they explain that enrolled as a foreign exchange student to all these fancy schools?

MiltonFriedmansNightmare's picture

Here's a plan for the Repugnantcunts, very simple, so even the orange one can understand. Stop negotiating with the compromiser in chief and draft a bill. Draft a bill that leaves the tax rates on the top two tiers unchanged. Cut the rest by 10%. Then go home and watch Oblahblah explain to the middle class how he is their champion, freaking hippocrit that he is. That would be the plan if the Repugnantcunts were who they claim they and not corporate cronyist lieing fucks.

EscapeKey's picture

Meh, I'm not really into reruns.

Frank N. Beans's picture

one of these two people is worth watching

Bubble's picture

who gives about that. more importantly...

amazed the gap down at the open wasn't bigger
Apple 2.36M Share Block Trade Crosses at $574.10

that's a chunk of stock. rumours expected on zerhedge soon. come along

djsmps's picture

He wants a top business executive in his administration. Perhaps Jon Corzine?

Dr. Engali's picture

As much as I disagree with taxes I hope he taxes the fucking shit out of the rich since those stupid cocksuckers put him in office. Give the bastards what they asked for. Of course that won't be the case.. We will be the ones getting screwed. Best bought and paid for puppet you could ever want.

seek's picture

I think it's well established he's not going to tax the people who put him in office. The 0.1% (or 0.01%) will get to keep playing the same games they always have with cap gains, donations, etc.

The middle-"rich" with actual earned income (say 60K to 1M) are totally fucked, though. I'm in the 1% and just did a 2013 tax review with my accountant last week, my effective tax rate (fed + state) is going from ~35% to ~42% between the Bush cut expiration and all the Obamacare add-ons. That's a 20% increase, and it's just the beginning of the end.

This is only going to get worse as we approach the big crash. I think some of the other posters suggesting using Argentina as a model are correct. The government will continue to harp about the rich paying their share and go after people "evading" taxes, and people will continue to fall for the lie that raising income tax rates will fix this, completely papering over that the real money is lightly taxed capital gains.Eventually capital controls and the like, but again, orchestrated to protect the truly elite rich while sucking the last drops out of the productive classes. Then the big crisis will finally hit hard, and they'll propose the US model itself on some social welfare state as in Europe (and we've see how well that served them!)

It's fairly terrifying to cruise a site like reddit and see so many advocating a return to a 90% tax rate when they have zero concept of capital gains, or how fucked we are due to spending.

The best plan now is to be lower-middle-class on paper and hold one's savings outside the traditional banking system. Of course most folks here already have been doing that.

sdmjake's picture

GO long coins and boating trips

TruthInSunshine's picture

+1 Seek. I'm seeing and hearing the same exact thing as you are, daily. I think AMT is going to sodomize many solidly middle class people, and that there's at least an even chance that the mortgage deduction goes away, which will really be a mind screw for many in the still ridiculously overvalued RE areas (D.C. is a great example).

Obamacare taxes/fines are also going to be a nasty, nasty surprise for  many. They have no idea how nasty b/c they really haven't been paying attention. Hell, the PREMIUMS and co-pays on that "free" Obamacare ARE GOING TO BE MORE than what they're currently paying for private insurance premiums and co-pays, and they WON'T BE ABLE TO OBTAIN that private insurance once Obamacare kicks in fully (employers are going to drop insurance benefits left and right, however they do it):

 

"If you think health care is expensive now, just wait until it's free." 

-- P.J. O'Rourke

Unaffordable Cost Seen for Some Under Affordable Care Act

...The landmark health-care law, which survived the threats of repeal and a Supreme Court review, now confronts another hurdle: living up to expectations. As the administration spells out the details, many uninsured will be surprised at how much they will have to pay. It may involve “very substantial amounts,” and “there still will be a significant number of people who can’t afford health coverage,” said Ron Pollack, head of Families USA, a consumer group that backs the law.

 

A family of four earning $75,000 will pay $7,125 in annual premiums and as much as $8,333 in co-pays and deductibles, according to a preliminary estimate by the Kaiser Family Foundation. A single 40-year-old earning $30,000 will pay $2,509 in premiums and as much as $3,125 in cost sharing. For a 60- year-old making $40,000, the amount will be $3,800 in premiums and up to $4,167 in out-of-pocket costs, according to Kaiser.

Do you see? All those Everest, Pajamascollegeconnection.com & University of Phoenixicans, who are extended-extended-unemployed or making minimum wage will be covered, families will catch that much needed "break," and seniors will rejoice! That family of 4 pulling down 75k will be thrilled to pay 15 1/2 k a year (or 20% of their total income). Those MANDATORY premiums and co-pays are only equal to an approximate 212% of most peoples' net-negative savings/extra cash!!! Wait until companies use the most ingenious methods to drop people from private or privately administered insurance onto the O-care dole.

 

4exNinja's picture

As much as I disagree with many of Obama's policies...the "tax the rich" comment makes PERFECT SENSE if the goal is to fix the deficit. Those tax cuts don't lead to economic growth in the first place because "trickle down economics" clearly don't work. No sane investor will go "mhhhhh, this investment looks nice...but omfg I have to pay 20% taxes instead of 15%...yeah, let's forget about this investment". People who support the tax cut for the rich are DISHONEST and I want to punch them in the face if they claim it's "creating jobs" or "stimulating growth in the economy". 

On another note: Am I the only one who read the GOP's proposal and realised that they don't actually mention WHAT they'll cut? What kind of plan is that??? That's like me saying "I'm gonna save $1m next year...don't ask me how though, just trust me...I'll save it."

Haven't they learned? The whole "making bold statements that aren't backed up by concrete plans" thing really harmed them during the election...and now they just continue making the same mistake all over again. What a bunch of clowns!