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Obama Budget Sees Lower Growth But Housing, Autos 'Resurgent'
It's all about the children... President Obama has just proposed a budget with a clear message from what we can tell:
- *OBAMA BUDGET SEEKS TO TAX CARRIED INTEREST AS ORDINARY INCOME
- *OBAMA BUDGET IMPOSES MARK-TO-MARKET TAXATION ON DERIVATIVES
- *OBAMA BUDGET CAPS DEDUCTIONS FOR TOP EARNERS, RAISES ESTATE TAX
and while the budget lowers growth expectations for the US notably (from 2.7% to 2.3% for 2013, and from 3.5% to 3.2% in 2014), it assumes:
- *U.S. BUDGET SAYS HOUSING RECOVERING, AUTOS `AGAIN RESURGENT', and so,
- *OBAMA BUDGET SEES $51 BILLION GAIN FROM FANNIE MAE, FREDDIE MAC
For the first time since 2000, the budget plans to collect 20% of GDP as revenue (compared to 16.9% this year). Winners and losers are...
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C'mon NEA, time to get out them votes!
So taxed when you earn it.
Taxed when you save it.
Taxed when you spend it.
Taxed when you die, but taxed MOAR!
So at minimum one is paying tax 4 times on everything earned.
No tax on carrying EBT card balance over from one month to next.
Cars and housing sales are up...because the lenders are writing loans to whomever has a pulse...again! Haven't we been down this road before?
close...around these parts we get new gubmint cars every 6 mos.....white gm trucks..white chevy cars....
... "OBAMA BUDGET SEEKS TO TAX CARRIED INTEREST AS ORDINARY INCOME"
No Problem
I get 0.00001% interest on my savings. I know... They're going to tax that too.
But I'm getting into a diversified portfolio of lead, silver, gold, water, and non-perishable food.
The Bitches get oversized tips as well.
must watch....
http://www.youtube.com/watch?v=i93BJiYLaj8&feature=youtu.be
for those of you who have watched Idiocrasy :)
Tyler you should imbed this video into this article
not funny, partisan, racist overtones (for real) and you you mispelled "idiocracy", idiot.
or this?
*OBAMA BUDGET SEEKS TO TAX CARRIED INTEREST AS ORDINARY INCOME
Carried interest benefits hedge fund managers, venture capitalists and private equity specialists, who are awarded a share of fund profits as compensation. The profits, which often make up a substantial share of a manager's income, are taxed at the capital gains rate of 15%.
Ordinary income, which salaried workers receive in the form of a paycheck, is taxed at a top rate of 35%.
Yes, I have a problem with the issues you raise above because taxation is theft, and therefore immoral.
Cheering for the government to turn its guns on another set of people makes you no better than your average partisan. Disengage.
"Yes, I have a problem with the issues you raise above because taxation is theft, and therefore immoral."
Ummmm, you might want to check the constitution on that one.
There is nothing wrong with "fair" taxes. They are needed for any government to survive. And unless your in favor of anarchy (I use to be but am now to old to be fighting everyday) your probably gonna want some kind of government.
OF cours the operative word there is "fair". The tax system we currently have in place, I agree, is theft and immoral.
I don't want this government to survive...
"you might want to check the constitution on that one." indeed
the fed gov ability to tax is severely limited. over the last hundred years they have brainwashed the masses into believing that power is unlimited. just by sticking the label "fair" on it doesn't make it constitutional or even right, but apparently it works charms on getting the gullible to buy in to it, and even defend it.
and the gov's bureaucracy job program nanny state survival is not even of interest of me as an excuse for them to rob and pillage its citizens.
This whole article is a diversion to throw off the HuPo trolls. Obama budget? Why should we worry about something that has never happened?
RE: Banamerican
Now there is a strategically placed time bomb.
Bannanaboy: Terry Crews as President camacho was awsome in that movie. Its ok of you dont get it. Cankerous taints were never known for their sense of humor.
do you love me? do you serfergirl?
i saw Idiocracy...thought it was "ok"...
sticking obama's SOTU over it is LAME partisan humor...
dull, and as i said, slightly racist...
apparently you are more easily amused than i am, serf...
I am for anything that whacks away at the Derivates anthill (sorry Wall Street lurkers).
Yea, it would be nice to swap the Carried Interest/regular tax rates (sorry Hedge Fund lurkers)...
In the meantime they are where they are because we live in a facist oligarchy
well bannanaboy you may be beyond help. here's something more for your low brow. suck on this
http://www.youtube.com/watch?v=9JMkKKX3IsY
but yet it never even enters your mind that perhaps the solution is that ordinary salaried workers income tax should be lowered to 15%.
or that the entire income tax is an unconstitutional bogus scam invented to empower collectivists and enrich bankers?
FYI-like a Rorschach ink blot test, your knee jerk racist charge tells us more about how you think, than the someone showing a video of the president. are only pixelated images of dear leader acceptable?
I don't do "god's work" (I'm just a cardiovascular specialist), so I don't expect to get the breaks that the "makers" (Squid et al.) in our economy have engineered for themselves, as they create dynastic wealth from shoving around piles of free money. It crushes me that hedge fund managers will have to approach my level of taxation. And yes, any taxation is unfair and government sucks- we should just let the warlords that will rise into the vacuum determine the fair level of "taxation" (any wives and cute daughters out there?) But I shed tears for my brothers in money management that will no longer find it profitable to manage- perhaps medical school, 10 years of training and every three on call will give them a renewed sense of meaning for their lives?
"...we should just let the warlords that will rise into the vacuum determine the fair level of "taxation""
You speak as if this hasn't already happened.
this frackin' market is killing me - i'm not in it. i felt the same way last in 1999.
Get in with close-to-expiration Buy-Writes on fairly high vol names. Sell the calls at the money, or even ITM. Make a little at a time without staying in the market for any great duration.
Or, get in with the Japan Reflation trade...buying DXJ (options or equity)
naked puts usually get me the same premium without the need to buy the stock, sell the calls, then pay for a trade again when called. my trade equals one trade, followed by expiration if OTM.
I've listened to Obama say the same thing for six years. When will the sheeple figure out that he doesn't have a clue?
Most people are either stupid or not paying attention. I keep waiting for us to go into full Idiocracy mode, and Obama can drop F-bombs and play loud music during a speech.
We can re-mix "U Can't Touch This" so it says "Stop! 'Bama time!" and use that when he walks on stage.
"Most people are either stupid or not paying attention."
Both
"I keep waiting for us to go into fullIdiocracy mode"
Wait no longer friend, we are there and accelerating to where no man has gone before.
Anyone thinks one man alone can be responsible/capable of such a massive illusion is kidding themselves.
Hillary says it takes a village. I say it takes a country full of willing idiots to get in this shape.
Give Obama more credit as he knows exactly what he is doing as evidenced by the fact that this country's balance sheet/financial strength is far weaker today than when he entered office in 2009.
Slap an Elmer J Fudd hat on him with the caption, "Qwiet, I'm hunting taxpayers."
Is this a cover Leismans tracks rally? Market down yesterday with the pre-release and now we have to rip
3.8 freaking trillion. burn baby burn.
Department of Ed: gotta keep the education "reform" train rollin'. So much passion for children out there.
The collective has to honor it's responsibility
https://www.youtube.com/watch?v=O6xX_VMlWeA
You didn't create those children...
Fuck lean forward...STAND UP AMERICA!
The Gates/Broad/Walton Foundations are eager to make investments in children. They would like a national marketplace for investment in children. Children are an exciting commodity.
"Children are an exciting commodity."
A certain South Park episode comes to mind...
"An exciting commodity," dead or alive.
William Buffett made an historic gift of more than $31 billion to the Bill and Melinda Gates Foundation to join in the efforts of the Susan Thompson Buffett Foundation, named after his wife, in giving tens of millions of dollars to various groups that perform abortions, and proselytize for abortion at home and abroad…
Microsoft billionaire Bill Gates reveals that his parents were the inspiration for his funding of pro-abortion population control measures. Responding to a question by Moyers on how he came to fund "reproductive issues" Gates answered, "When I was growing up, my parents were always involved in various volunteer things. My dad was head of Planned Parenthood. And it was very controversial to be involved with that. And so it's fascinating. At the dinner table my parents are very good at sharing the things that they were doing. And almost treating us like adults, talking about that."
Gates Sr. is a co-chair of the Bill and Melinda Gates Foundation, which his son Bill and his son's wife Melinda founded. He also serves as a director for Costco wholesale, a bulk retail corporation, founded on the ability to undercut prices on the pretense that it sells "wholesale" to the retail trade and not to the general public.
Fuck me. She really said that "your children are not your responsibility". How fucking ignorant is this? Totally fucked.
Well, we have warehouses/schools to contain children, we have medications to soothe their boredom and aggression, and we have billions of free internet channels to occupy their minds and "educate" them. We just need a national army of low paid enforcers to watch them in the warehouses while they take their meds and click on their tests. Being a parent is so much work.
A damn good argument for birth control
I don't think she is ignorant. She knows exactly what she is talking about.
Bullshit, she is a shill. She doesn't think, period. She reads the script.
Loved his referrence to smoke & mirrors. ROFL
what was the exact quote? "there is not alot of smoke and mirrors in this budget" (just a llittle)
Ganja and blow for the Choom Gang-banger.
The department of Education will soon become department of Reeducation!
soon become?
What do you mean 'will soon'?? Why do you think half the kids coming out of school can't read or write?
What do you mean 'will soon'?? Why do you think half the kids coming out of school can't read or write?
Uhhhmmmm we are a little past that point. Maybe it will become the department of re-reeducation.
1. Taxing interest only works if interest rates > 0. With interest rates < 0, do I get to bill the government - anti-tax?
2. Mark to market is a barbaric relic.
ok..so spending up by 2.5%
i guess it could have been 10% up, so this represents a 75% cut compared ot that 10%
Obama is great.
All hail the messiah.
Moar money for the children and the IMF.
Moar student loans for everyone.
Moar asset bubbles......all hail the messiah.
Obama is great ... give us the chocolate cake ...
This should scare every parent in America:
Parents Chafe At National Student-Tracking DatabaseRALEIGH — A national database created to collect and track confidential personal information from public school students from kindergarten through high school is drawing fire from parents and privacy experts.
The Shared Learning Infrastructure, built over the past 18 months, stores millions of student records identified by name, address, race/ethnicity, economic status, guardian, primary language, grade, test scores, attendance, disciplinary history, standards and skills mastered, student hobbies, learning disabilities, homework completion, school and non-school activities, and much more. Even Social Security numbers sometimes are collected and stored.
This $100 million data warehousing project, funded by the Bill and Melinda Gates Foundation, the Carnegie Corporation of New York, and Amplify Education, was initiated by the Council of Chief State School Officers, and the National Governors Association as a key part of the federal Common Core State Standards. After the infrastructure was completed, inBloom Inc., a nonprofit, was created to run the system.
http://www.carolinajournal.com/exclusives/display_exclusive.html?id=1001...
“Are we really to think that the Gates Foundation and Dell Foundation are pouring millions of dollars into these projects with no expectation that the companies founded by these tech giants will benefit financially?” Kaplan told CJ. “Common Core mandates that approved systems run under Windows 7 or higher, and Dell is creating the interoperability for these databases,” she said.
Karen McMahan is a contributor to Carolina Journal.
Bingo, whats left of 4th amendment sold!
The private schools that provide the next generation masters will be left out of this.
There's no possible way America will reduce the deficit.
Looking at the outlays, in a year or two the Treasury Dept. will be bigger the the Defense Dept. Is Treasury buying bullets, drones and missiles?
In a way, yes.
Treasury has Alcohol, Tobacco and Firearms, baby.
That's why Treasury gets all the money...
Isn't Treasury the part where the interest on the national debt is accounted for?
Does "mark to market" still exist?! I thought that was a barbaric relic ...
Anecdotally speaking, a couple of people I know are removing cash from the bank and stuffing it into new cars and home improvements and sundry hardware.
Convinced a couple of my clients who carry stupid balances(7-30 M) too remove
them from the bank.Boomeranged because they bought Stawks.
Its keeping it, not making it, that counts.
Heh tax derivatives you'll chase all the big players out of the market and into bitcoin or equivalent exchanges. The only ones left will the primary dealers besides the FED since the FED will subsidize that tax in QE funny money. PM bitcoin style exchange here we come...
http://blog.heritage.org/2012/10/18/president-obamas-taxpayer-backed-green-energy-failures/
More taxes are needed for good causes like the ones noted in above link
Obomanation....people living in tunnels:
http://www.kansascity.com/2013/04/05/4164931/underground-homeless-camp-c...
"and think some homeless people are responsible for some thefts and may serve as lookouts for larger theft operatives."
Like we ain't gonna see more of this?
Read more here: http://www.kansascity.com/2013/04/05/4164931/underground-homeless-camp-c...
Good thing they were right next to an industrial area with warehouses and a concrete plant. I bet they found everything from lumber to copper to the PVC pipe described in the article.
Anyway, I don't see anything wrong with people choosing to live like that, it costs very little and as long as they're buying or salvaging the materials used to make their camp there's no harm done (I don't believe in theft, that's what liberals do). Heck, it might be good for young men just starting out in the workforce, especially if they have minimum wage jobs.
How did I guess education would top the list?
got to have more college grads flippin burgers
It beez for da youtz in Detroit an' Atlanta hooz parents aint be wantn to pay fo nuffinz.
Teachers = unions = Obama voters
College students = indoctrinated as future Progressives
Net result: more money for education
Obama is a Taxaholic. He need to go into rehab dry out.
Cold turkey is the only solution.
He has about as much financial acumen as Lindsay Lohan.
"It is all about the children" ... "we are all in this together" ... and other lies told by greedy power-mad collectivist psychopaths.
If true, it would be great ... but they do nto believe it (otherwise they would not murder mass numbers of innocents in agressive war actions and drone strikss, one after another), so why should we believe them. They lie ... and we die.
It is about the children... Ensuring they become obedient, tax-paying, debt serfs.
This is a very evil thing that has been done to our country.
When I was a kid, people were not proud about being on ANY form of government assistance. It was a last resort and the help, while graciously accepted, was done so with seriously damaged pride in one's, errrr, manhood. As such, people scrambled to get off it as soon as possible.
Now the mindset is completely different. People are proud of sucking off the system and think they are they are screwing "The Man."
Loose credit requirements, sub-prime mortgages and slippery business and banking practices have made it so most of the poor are living in houses they can in no way afford and driving cars they sure as hell have no hope of paying off.
I have zero faith that this national mindset could ever be reversed except over the span of generations as it would first require the elders of the population to teach the youths. If the elders are of the GibsMeDat IzBeEntitled mindset, then the change never gets moving.
This is a very grim situation.
Devine Wind
YES, YES, YES, we are all the cause of this problem. When we all convinced ourselves that it was ok to take this and that because Joe Blow next door was doing so and getting away with it. When we all at some point in time determined it was o.k. to fudge a little on our income taxes. When we all turned a blind eye to what others were doing because we did not want others to notice that we too were corrupting ourselves.
When there was a gigantic moral shift in America.
Im not talking about any particular religious theology but when a mans word meant something. I'm talking about when a child went to his parents and copt to doing something wrong because they felt bad about it. When neighbors gathered together for a barn raising because they knew that everyones welfare was there own.
Now it's all about me.
I talk to parents about whats coming and if they do not want to take action for their own or their countries good what about the future of their children. Doesn't faze em. The children will have to fend for themselves.
And they will, and they will teach that to their children and on and on.......
There is no good that come from this. But then, who cares?
The "it's all about me" came to the party that the government employees and corporate CEOs were throwing.
Now everyone is mad at the student, welfare recipient, etc and who's fault is it, government and big business. Yep, you shipped their jobs overseas, and what jobs were left you taxed, regulated and imported illegal aliens to destroy any chance they had to compete and take care of themselves.
Wee knead moar teechers kaws thats way wee nose moar stuff. Day teeched me good...
Well, had you gone to massage school, you could knead a few. I suppose you'd only want attractive female ones as clients, though...
Claiming more of GDP in the future than last year.
That's the Obama way.
Cloward Piven startegy is gaining strength. Bernake is in on the scam, there is no other explanation possible.
Obama outright lies.... then he is backed up by MSM. Who, with a modicum of moral conscience, would be driving this forward ?
Progressives see business as a government-private sector partnership where one party eventually gets jettisoned for the good of us all.
"We contend that for a nation to tax itself into prosperity, is like a man standing in a bucket, and trying to lift himself up by the handle." Winston Churchill
Article:
“[- - - -] AUTOS RESURGENT [- - -].”
My comments:
OK, the consumers did not buy many cars in 2009. So sooner or later the market would compensate for that. The question is whether the consumers buy vehicles that can be considered as affordable enough on the average.
Link to Automotive News-article, “How the Fed fueled an explosion in subprime auto loans”,
http://www.autonews.com/apps/pbcs.dll/article?AID=/20130407/RETAIL02/130409912/how-the-fed-fueled-an-explosion-in-subprime-auto-loans
True story. Took my kids to MCDONALD'S after school and I am not kidding. Every order I heard was for 4 or 5 McDoubles off the $1 menu.
Because they are an amazing deal. They can't possibly make any money on those if you don't buy a soda or fries.
If carried interest is a return on a hedge fund or equity fund manager's own investment, I don't see a problem taxing it at the capital gains tax rate. It is only when carried interest is a return on someone else's money and used to compensate fund managers that it should be treated as ordinary income.
Really, what some people want is to eliminate capital gains tax rates entirely.
Hmmm? Obama BUDGET IMPOSES MARK-TO-MARKET TAXATION ON DERIVATIVES
Last I heard, there was about 16% of Derivatives traded on an exchange.
Do you really expect blanfine, diamond, et-al, to actually fess up and pay this?
They are using this to distract us from? . . . The truth, mebee?
I smell another 4 years of Continuing-Resolutions!