Obama Presidency Watch/post election & first 100 days

Originally posted by nyk537
By (gasp) lowering taxes on them.

It has nothing to do with taxes... when you look at it the United States has some of the lowest taxes in the industrialized world... that's even true of individuals.

When a company gets so many tax breaks that they actually have a negative income tax return (and don't think it doesn't happen, it does all the time... especially for the largest corporations) then get subsidies on top of that something is wrong.

When you look at it none of these companies go overseas because of the taxes... they go overseas because wages are a pittance compared to what even the most minimum of wage jobs pay here...

... why do you think they hire illegal aliens? Its not because of the taxes...

... the notion of higher taxes driving jobs overseas is little more than a bogey man.

reply to post by nyk537


Well giving the trend of every new administration to recycle what I call some of the "trash" from former administrations under the umbrella of "experience for the job", I guess I am not surprised to see the same trend been followed by the new Obama administrating.

Originally posted by grover
It has nothing to do with taxes... when you look at it the United States has some of the lowest taxes in the industrialized world

Really?

American Corporate Tax

"Of the 106 countries surveyed, only the United Arab Emirates (55 percent), Kuwait (55 percent), and Japan (40.69 percent) impose a higher corporate tax rate than the combined rate of 40 percent in the U.S.," says Hodge. "What this says about America's tax competitiveness is not good."

American Capital Gains Tax

More than half of the countries surveyed have individual capital gains tax rates lower than that of the U.S.

A low capital gains tax rate has an important role to play in fostering economic growth.

It would seem the facts don't support your notion of America having some of the lowest tax rates in the world, or the fact that they don't play an important role in a countries growth.

reply to post by nyk537


Yes the article is 4 years old but still it highlights an important fact:

www.americanprogress.org...

The news that more than 60 percent of U.S. corporations failed to pay any federal taxes from 1996 through 2000 when corporate profits were soaring and that corporate tax receipts had fallen to just 7.4 percent of overall federal tax revenue in 2003 – the lowest since 1983 and the second-lowest rate since 1934 – is an outrage. But it should come as no surprise to anyone who has been paying attention to national tax policy over the past few years. The General Accounting Office (GAO) report also found that an astonishing 94 percent of corporations reported tax liability of less than 5 percent of their total income during the same time period. Corporate tax dodging has gone on for far too long.

[edit on 1-12-2008 by grover]

An interesting article on politico today that deals with the topics of this thread. I will quote the highlights.

"5 things the war Cabinet says about Obama"

www.politico.com...

• He is an intellectual, who is more impressed by academic and governing credentials than familiarity and loyalty.

New York Times columnist David Brooks nailed it recently when he called the emerging cabinet a “valedictocracy”: a team of the nation’s first-in-class Ivy League elites. He meant it as a compliment. He’s not alone: it’s hard to find Republicans who don’t express admiration (at least in private) for the emerging Obama team.

• He is willing to take big risks.

His economic and national-security teams are getting packed with huge personalities who see themselves as architects, not assembly-line workers. The potential for big clashes in tough times is high. But so is the potential for big results.

• He is very focused on governing—and prefers persuasion to force.

Obama inherits what every president dreams of: a Congress controlled by his party and with strong majorities. Unlike Bush, he seems to genuinely care what they think.

Many Republicans resented the way Bush simply dismissed the power and input of Congress. He saw his victories as mandates to implement his agenda and was dismissive of naysayers in either party. Obama seems to making a different calculation: Democrats can win big if they proceed with something resembling a parliamentary approach to governance.

• He isn’t so disdainful of the “Washington insiders” after all

Much of the media focus has been on how Obama has surrounded himself with “rivals” or “moderates.” But from one perspective what’s most surprising about them is how unsurprising they are—they are a roster of the Democratic establishment.

It is clear now the “change” Obama will bring to Washington will center around his personal style and values, not the cast of characters by his side.

• He is willing to jettison campaign promises to suit the political landscape

Every president does it, but Obama is breaking (or at least bending) a stack of promises even before he takes office.

His staff has spread the word that he will not immediately push his plan to raise taxes on the rich by repealing the Bush tax cuts. Many Democrats predict he will hit the brakes on the movement to make it easier to force unionization of the workplace – a core demand of his most loyal supporters that could get a lower priority as he scrambles to head off a depression. And Obama has signaled that liberal dreams like the repeal of the military’s don’t-ask-don’t-tell policy on gays in the military will take a back seat to more practical elements of his agenda aimed at helping struggling middle-class families.

In short we have a pragmatist on our hands and one that genuinely seems to want to govern from some middle point where a real consensus can hopefully be reached.

After 8 years of all but blind dogmatism this is good.... at least in my opinion it is.

[edit on 1-12-2008 by grover]

Actually he appointing an economic team even before his cabinet was done it tells that the economic crisis is at the top if his agendas.

I guess he has not other choice depending how the economy shapes during his first year will tell how his administration will be judge by the public that elected him.

reply to post by marg6043


That, and also if he can't right the economy pretty quickly, he won't be able to do a lot of what he wants to in regards to his massive increases in spending.

The American public won't tolerate his outrageous spending while we are in a rut like this.

If he can come in and right the ship though, it may be a different story.

reply to post by nyk537


Interesting that you bring that issue, we know that he will have to increases spending in order to be able to keep not only the federal government but the state and local government working.

But this is a big huge gamble that the new Obama administration will take.

If the proposed stimulus do not help the economy like expected and we already have experts that said is too late, we will be in worst shape that we already are.

That means that recession will turn into depression by next year.

While Bernanke and Paulso tells that unfreezing the financial markets will help the consumer, when the consumer is unemployed, homeless and in debt, who is the financial helping while offering more credit and debt.

How can address one site will not help to fix the core problem in America today.

We need our industrial base back, we need our working force stronger once again, but we can not do this while bailing out financial and the elite, neither while we have the NAFTA and WTO ruling over the America worker.

I know that Obama has voice his disapproval of the policies of the NAFTA and WTO and that his party elders do not like what he said.

Because they are all in the pockets of corporate America.

If this problems are not addressed first before he squanders more money on trying to fix the economy is going to be just like the trillions of dollars already been wasted that has done nothing.

AP: Public Willing To Wait For Obama's Tax Cuts

www.huffingtonpost.com...

WASHINGTON — People want the tax cuts promised during the presidential campaign, but may be willing to wait while President-elect Obama takes on the larger issue of fixing the economy.

Eighty percent say trimming personal tax rates should be a goal when the new president takes office in January, but only 36 percent say the cuts should a very top priority, according to a new Associated Press-GfK poll. That was less than half the 84 percent who cited improving the economy as a No. 1 goal, and the 80 percent who said creating jobs should be a paramount task....

.... Even fewer people _ 29 percent _ said another top priority should be Obama's plan to allow tax cuts to expire for families earning more than $250,000 a year. He has said he would use the revenue that would raise to help finance some of his priorities.

Amid such talk, 72 percent in the AP-GfK poll voiced confidence Obama will make the changes needed to revive the stalling economy. Underscoring how widely the public is counting on its new leader, 44 percent of Republicans joined nearly all Democrats and most independents in expressing that belief....

....The AP-GfK poll was conducted Nov. 6-10 and involved cell and landline telephone interviews with 1,001 adults. It has a margin of sampling error of plus or minus 3.1 percentage points.

AP News Survey Specialist Dennis Junius contributed to this report.

On the Net:

AP-GfK Poll: www.ap-gfkpoll.com...

Based on this poll it seems that a good percentage of the electorate are willing to give Obama some leeway to deal with the economy including delaying the promised tax cuts if that is what it takes... that is for a time.

I don't know if the new Obama administration will be able to do any more tax cuts, remember Papa Bush when he was screaming "no more Taxes" during his campaign, one thing was to do promise something to get votes and another facing a crisis in your administration even before you are sworn into your seat.

Papa Bush had not choice but to raise taxes right after he got in the White house.

Since you asked ...

Originally posted by grover
high profile transition

Lots of news conferences. This is good.

And about the cabinet picks he's made so far?

I see no 'change'. Just the same ol' politicians and the same ol' baggage.

And as far as his 'plan' for energy independence - bah!
Considering what he has said about drilling here at home ....
I'll believe in energy independence when I actually see it.

reply to post by grover


Grover,

I apologize if you saw my post as a partisan attack. I truly never intended it to be that way.

I have been in and around politics for a long time, and what I posted is simply what I see coming.

I was right in 06; remember? We talked then as well.

As for his selections, I see Clinton as a good choice for if the Republicans continue down the Liberal road they seem set on, I will support her in 2010.

Leaving Gates in is a good idea. As for the rest, I have little to no opinion as I do not see them making any difference in the coming years.

As for Democrats not being Socialist; that is your opinion my friend. I have mine.

What I fail to understand is the idea that Socialism is a dirty word, so very commonly taken as offensive here. Obama's entire stance is socialism pure and simple. Not a dirty word, a political ideology. I have Socialist friends, even Communist ones, and many Liberal ones; they are good people, misguided, but good people.
I am a Conservative, not a NeoCon either in the proper use of the word as a "New" Conservative, or the often misused definition one finds on here all the time.

I support some Liberal Policies and even some Social Programs; yet remain truly Conservative in the truest sense of the word.

A Political Ideology; exactly like Socialism.

I call a horse a horse and a Socialist a Socialist. There is really no reason to play around with definitions anymore. It is what it is.

Again my faith is in the American People and their ability to weather storms; for a storm is coming my friend.

Semper



[edit on 12/1/2008 by semperfortis]

reply to post by marg6043


Obama may not have much choice either.

Considering he ran on the promise to cut taxes for 95% of Americans, I don't see that going over to well. Unless he really comes out swinging with some big things I'm not seeing, I can't see how he can avoid breaking some campaign promises.

I'm also not sure how some of the more "devoted" Obama supporters will handle that.

Honestly, I'm having a hard time seeing Obama being successful enough to get a second term right now. Of course, the man hasn't even started yet either.

reply to post by nyk537


Sorry to say this too, but already is been predictions that he will be a one time wonder.

I have been digging into politics for a while also and I have been following the economic crisis even before it was "officially a crisis" and unless the new Obama administration has something on their sleeves that we are not aware off, or they have some magic working in their side I don't see how we are to get out of this one.

Originally posted by semperfortis
reply to post by grover

 

Grover,
I apologize if you saw my post as a partisan attack. I truly never intended it to be that way.

I did not take offense Semper... I am just going to try and keep this on as much an even keel as possible... I know you and others are conservative, that's why I extended an invite just as I did for liberals here... I want this to be a place where we can discuss the unfolding Obama administration without the rancor I have seen on a lot of threads... if we can keep it that way we will all learn and benefit.

I will save our debate about socialism for another time.

As for right now I accept Obama's word that he is going to be the one providing the vision and setting the policies... and that is good... I have seen many a business go down the tubes because the owners and/or managers set the wrong tone... but if someone comes in and sets the right one, even a business teetering on the edge can turn around.

[edit on 1-12-2008 by grover]

Originally posted by semperfortis
I see Clinton as a good choice

I think she could do the job. Richardson would be better.
But I'm kinda surprised obama went with her for the position -

WASHINGTON (AP) - It wasn't too long ago that Barack Obama and his advisers were tripping over one another to tear down Hillary Rodham Clinton's foreign policy credentials. She was dismissed as a commander in chief wanna-be who did little more than sip tea and make small talk with foreign leaders during her days as first lady. "What exactly is this foreign policy experience?" Obama said mockingly of the New York senator. "Was she negotiating treaties? Was she handling crises? The answer is no.

apnews.myway.com...

reply to post by FlyersFan


SHHHH.... don't tell anyone flyer but I agree.

I hate to break up the party but I have to agree with Grover concerning the fact that lower wages is what drives out sourcing . Corporations are useful for there capacity to invest to that end I support the lowering of the Corporate Tax Rate in New Zealand under the condition of better corporate management . I have no interest in seeing CEO and other directors failures be rewarded with increased pay packets . People tend to have short memory's if they are smart they will remember Enron , the US auto sector , Ansett , Air New Zealand and so on the next time the corrupt culture comes knocking for a hand out . All the while the real drivers of economics small business are either doing it tough or going under .

reply to post by xpert11


I am glad someone else sees that the whole tax thing is a smoke screen to move shops overseas to take advantage of pennies on the hour labor.

But back to the matter at hand... the cabinet picks so far.

Dow's down 650 points tonight.

What's President elect Obama going to do? Print dollars? Heat up the printing presses, we have a lot of bills to print!

*Waits for Epic fail (tick, tick)*

Obama winning is like Christmas every day! I can't wait for the liberals to turn on him!

Remember the FISA Bill? Foreign Intelligence Surveillance Act....? Liberals were so betrayed!

(This bill allows the President to grab all incoming and outgoing international communications without a warrant.)