+1:cheers:

Sorry Southern, Plan A included an off shore account. Back in 1992 Thank you.

Can someone explain to me what makes Obama a "fraud"?

Has anyone else noticed how "white" the people in the campaign headquarters were when Romney gave his concession speech?

I don't think that the 986 Forum has enough "server" space to answer that !

One example will do.

Well said !!! My company is now operating on "Plan B". And it will stay there for a few years to come. No more hiring or expansion.

Sorry Southern, Plan A included an off shore account. Back in 1992 Thank you.

actions like that, then you try to blame obama for the recession?

If I have an overseas stock account and if I have a profit, I'll have to pay U.S. income tax on the profit after I pay the local tax for the profit. (The local tax I paid will reduce the U.S. tax by that much.) This is the law, right?

Why/how is it that a U.S. company can keep its profit overseas WITHOUT paying U.S. corporate tax on its profit?

Can we change the law so that ANY company doing business in U.S. must pay U.S. corporate tax based on the "global" profit? Otherwise, you can't do business here.

What am I missing?

Actually, I didn't notice that, which is the way it's supposed to be. You did notice that, indicating that you have a problem with something that shouldn't be a problem, but somehow feel entitled to it.

I don't find Obama to so much a fraud as incompetent. He's a community organizer with a comic book reality that got sold up the river with his green energy program -Solyndra/A123 systems/GM Volt, etc. He's also apparently identified some limitless source of funding to solve all of our medical care. And wouldn't you know, Romney and his ilk are needlessly interfering with that. Sorry to all the Obamaists out there - he won't be able to save you.

Votes
 

Political Analysts are having fun crunching the election results. My question is what happened to the 5 million Voters that voted for the Democratic Presidential candidate in 2008?? Looks like the same number of voters voted for the Republican candidate but there are 5 million less votes for the Democratic candidate. Where did they go? Did they give-up? Only 57% of registered voters voted this election, which is a small percentage of the total US population. What a shame...

Did I say it was a problem? For the record, I don't think it's a problem. We live in a free country - a country that's changing.

Also, for the record, I voted for Bush in 2000. I did because I don't believe in "nation building" outside of USA.

Now, I'll be paying more taxes but at least I won't be denied because of my undiscovered "pre-existing condition". I don't wish to be one-in-four Americans that end up declaring bankruptcy because of medical expenses.

The Obamacare alone is enough for me.

OK, look no further than yesterday's resignation. The WH knew about it and the FBI wanted his resignation last week (for national security) but WH pressured them not to until after the election b/c it would create a 'distraction'. Oh yeah, and this is the guy who WAS supposed to testify next week on that not so small thing about our Ambassador and 3 other brave Americans murdered in Lybia during a terrorist attack on 9/11.

Or what about our drone shot at by Iran on 11/1 which we conveniently didn't learn about until, you guessed it, this week.

There are many more, of course. Not to worry though , b/c nothing too important is going on the campaigner in chief was able to get a round of golf in today. . .

You actually believe that a bankrupt government will actually be able to follow through in providing unlimited care for all? Or that insurance co.s can exist as going concerns when saddled with unlimited costs w/o driving rates through the roof - Obama or no?

Hah !!!! I can't stop laughing, SO TRUE Danger !!!!! So TRUE.

+5 Burg !!!! They stink to high Heaven !!!

First of all, let me say that nobody wanted to see "Hope & Change" more than I did. After 8 years of the Bush-era and all of the reprobates associated with it, I was extremely excited to see Obama win office. But, like many others, over time I too saw no evidence of any real plan for economic growth, investment in social and educational programs, a reduction in the war effort, or any policy for that matter that involve positive change. In fact, all I saw was a continuation of the "war machine", bogus bailout policies and the further indulgence of Wall Street perpetrated by a$$ hats of the same ilk as the Bush-era. Do you want to get into how Obama and his wife had to surrender their licenses to practice law or face being disbarred, or the unbridled spending of the taxpayers' money on vacations and personal shopping to the tune of $1 billion while most of America was either struggling or out of work, questionable citizenship, or the current conspiracy that's unfolding with regard to Benghazi ?

:):eek: :eek:
One at a time guys one at a time.

@Burg Boxster

I am sorry but I don't know that WH pressured FBI in anyway. BTW, isn't Petraeus GOP? It is not as if Obama was trying to cover up Harry Reid's affair.

As for the drone - it's no issue for me. I am sure that in order to do the mission properly, the drones must go near the target - near enough to be shot at sometimes. Are you mad that our drone was shot at? Do you want to start a war? Or, are you upset because you are not told everything as it happens? We have a representative government. We elect people and we let them make the decisions. If you want to be informed, go run for an office.

A politician's job is to get elected. Do you know anyone so different?
----------------------------

@brp987

"You actually believe that a bankrupt government will actually be able to follow through in providing unlimited care for all? Or that insurance co.s can exist as going concerns when saddled with unlimited costs w/o driving rates through the roof - Obama or no?"

No. I don't expect anything from the government. I have had a private insurance that I paid for all my adult life. However, after watching "Sicko", I came to realization that having a private insurance, would not protect me if I became too ill. If you have not watched the movie, see it. Let's discuss.

One way to not saddle an insurance company with unlimited cost would be to have a single payer system. While I am open to that idea, I understand that that option is too "socialistic" for many of us. I get that. Hence, I think the Obamacare is a reasonable compromise. If we were/are able to spend $5 billion a week on two wars, can we not spend a fraction of that money for our healthcare? I worry about our government going bankrupt too. Hence my suggestion of taxing any corporation doing business in USA to pay our corporate tax rate on their global profit.
----------------------------------------------------------------------

@JD

Thanks for responding to me. I always enjoy your posting and it is my pleasure to hear from you.

I don't know of anyone whom I was able to change his/her mind over the internet and I am sure today is not the day that I will start. :)

I had hopes much like you. Did Obama meet all/most of my expectation? I can't say he has. However, I also know, having had a job at an investment bank at the time, how our banking system was VERY close to coming apart. A reasonable person can talk about "private sector solutions." Well, sometimes there isn't a "private sector solution" and we have to rely on the government.

As I stated before, I think the Affordable Health Care for America Act alone is a momumental achivement of the Obama administration. Some may like it more than others and some may really hate it, I understand. But, to me, it is Obama's signature achivement BECAUSE so many people are against it and it still passed!

JD, I just came home from watching the latest Bond movie. :cool:
I liked it very much. Based on your personal experience, how realistic was the movie? Do you plan on watching it? Or, watching the Bond movies bring back too many bad memories? :)

------------------------------------------------------------
Inclosing, I want to share with you guys something I read recently. I read that the Medicare's admin costs are 3%, far below 30% average admin costs of private insurers. I need to study if those numbers are true. "IF" this is true, are we f@#$ing stupid? Why aren't EVERYONE under Medicare? Is there a doctor in the house who can opine?

Disclaimer: I am sure I have made a ton of mistakes writing above. I will edit without changing my meaning. Thanks for understanding.

JD, I just came home from watching the latest Bond movie.
I liked it very much. Based on your personal experience, how realistic was the movie? Do you plan on watching it? Or, watching the Bond movies bring back too many bad memories?


Mike,

Based on my years of experience as a senior agent with The Strategic World Command, it is my opinion that there have been only a couple of films that accurately indict the "life" of a secret agent: 1). Flash Dance and 2). The Horse Whisperer.

Mike, I work for the government and I can assure that gov has nothing to offer the likes of Kaiser, Blue Cross, etc in terms administrative efficiency. Much of the cost of medicare admin is by those who draw their salaries from other depts. I'm not a doc, but you should read Sally Pipes"The truth about obamacare". 1/3 of docs do not accept medicare patients due to low reimbursement rates. The reimbursement rates are due to be further cut in the near future. On top of that, obamacare throws millions more on medicare to be funded by states that cannot afford it and are suing to get out.

As for the $5 billion/week spent on the wars, you must know that the US has run trillion $ deficits each of the last 4 years. It's been borrowed. Worse, it's been counterfeited by the Fed thru treasury purchases. You should read "The creature from Jekyll Island" which begins: "What is the Federal Reserve? The answer may surprise you. It's not federal, and there are no reserves. Further, the federal reserve banks are not banks."

Finally, who is this mysterious deep pocketed "single payer" who will fund unlimited healthcare costs? It's not the gov. It's not the ins cos. It's not you. Who!? It is a mirage.

Well articulated BRP987 !

I missed this so I will respond. I do not blame Obama for the recession because he is just a "Foolish Puppet". What I do blame is all the "fools " that put the puppet in office. What scares me the most is we can survive Obama , but not the "Fools", as there are now many.

Hi brp987,

Thanks for writing.
So if not Obama care, what should if anything can we do? Do we just sit and do nothing? What's your solution?

As for the federal deficit, it is my belief that all of us are paying for years of monetary neglect. A great country like ours requires a large budget. This is especially the case when we as a country insist on having a military budget that is greater then roughly the next countries put together. Our country needs money.

What I came to conclude on my own is that the tax break of Bush years was wrong. Just as some of us put money into the repair fund of our cars, we should have saved the surplus in more wise way than to give tax break to the higher income earners. However, all of us were happy to receive the tax cuts and now the country has no money. Our country has IMS failure and there is no money in the repair fund.

Take a look at this.
http://986forum.com/forums/uploads01...1352673689.gif

It looks like Uncle Sam used to make pretty good money. "His cut" on his wealthy nephews were pretty high over the years. I believe if we want to go back to the good old days, the Uncle's cut has to be more than what it is now. We simply can't maintain the life style of the old with lowest tax in our country's history.

We were able to balance the budget only 12 years ago. Is it too crazy to think that perhaps the rates back then were "correct" for the country of our size an needs?

I repeat again that I don't wish to change anyone's POV.
I believe I belong in the middle of the political spectrum. I am the swing voter if there ever was one. And looking at both Dems and GOPs fighting from where I am, I was pretty sure that GOP will lose last week.

Yes, I did notice the lack of color in Romney's campaign HQ, but I bet I wasn't the only one.
While it made no difference to me, who knows? Perhaps some people thought it was a problem.

The country is changing.
If the GOP wants to regain in future, something has to change.
(If I were a Democrat, I would say, "Stay the course guys, stay the course.")

The idea that the "market knows best", I don't believe anymore. I used to, but not since 2008. The game IS rigged. The money goes to where the money already is. What's with no estate tax? Raise the limit to say $10mm but let's tax anything above. That's another way to reduce the deficit.

I will still look into the 3% vs 30% cost claim. I usually like hard numbers.

When Warren Buffet said the tax rate should be higher, I remember some people telling him and him alone to pay more if that is his belief. Well, if any of you guys think that there is too much "entitlement" given out the government, your can promise to not collect social security. Why add to the deficit?

Didn't Cheney said, the deficits don't matter?
At least Obama says the deficit is a problem.

I don't know. Perhaps we would not be fighting so viciously among us if the Russian Bear was still around.
We fight too much.

Thanka again brp987.

I used to work with a banker who renounced the US citizenship so can pay less tax.
He still had the office in the NYC.

There should be a law to lock up $h!tholes like him.

One more thing that we need as a country:
We need to bring back the draft. Most of us don't know other races. This is a big problem.
The draft will force us to learn about the others. At least meet others.
Also, we as a nation will less likely to go to war and spend $h!t load of money when your kids and my kids are at risk.

Last post. We need to get away from the notion that because you have health insurance, that all your medical care is covered. No, medical insurance is like car insurance - you buy how much coverage you want, based on how much you can afford. Yes, wealthier people can afford better care. And unhealthy people, like lousy drivers, are going to pay more.

Tort reform. Yes, mistakes and incompetence exist, but there are a large amount of nuisance suits.

Free medical care for illegal aliens/prisoners. Drastically reduced. I read about a recent case where a prisoner was granted a sex change operation!

I'm not an expert. I really recommend Sally Pipes book. It's a good start.

One of the major disappointments that people have with Obama and/or his administration, is the lack of ability to clamp down on the greed associated with Wall Street. In fact, all his bailout plan did was line the pockets of Wall Street with bonuses.

'Twas ever thus.
 

"It's been borrowed. Worse, it's been counterfeited by the Fed thru treasury purchases."

'Twas ever thus.

The Roman emperors feared overthrow and death if they taxed their citizens too much. But the proles were used to government services - bread and circuses (they wanted 'stuff' and 'things') - but didn't feel the economic connection between taxes and services. Having the best civilization so far (arguable!) had its costs. How to pay for it? The emperors diluted the coinage. So the confidence in the currency was reduced and businessmen decided to trade elsewhere. The empire fell (there were other causes).

Same today. Legislators want to be re-elected, so are afraid to tax. We want our beef inspected by the government, federal money for New Jersey citizens after Sandy, our 'socialist-leaning' Medicare. The tax-cheat 'patriots' pledge to never raise historically low tax rates. We want someone else to pay for it - so the government prints more money. Having the best civilization so far (arguable!) has its costs. Will we pay them or will our empire fall?

Last post here too.

I will try Sally Pipes's book. I recommend to you either watch "Sicko" or read Robert Reich's Beyond Outrage. If you watch Sicko, you would understand that my concern prior to the Obamacare is not the extend of insured medical coverage but the insurance company's abliity to DROP you once you become sick.

I am taking chances with IMS, but I am NOT taking the chance that some huge medical bill will ruin me. With the Obamacare, there will be NO chance of medical bankrupcy in my future - without it, there certainly was. Just watch the movie if you haven't yet then you will know what I mean.

Tort reform - I completely agreed with you. We need it bad.

"Free medical care for illegal aliens/prisoners." Tax payer paid sex change is crazy. However, illegal aliens and prisoners, I don't know. I know some illegals. There are contributing members of our society. If someone came to US yesterday and needed a heart transplant, than that is different, for me, than someone who has been here for last 20 years needing one. As for the prisoners, if you are on death row, NOTHING for you. But if you are serving time for selling pot and doing 5 years, I don't know. Where is the line of demarcation, I don't know.

Something I learned on 3% admin cost.
First the critism:
"The IRS collects the taxes that fund the program; Social Security collects many of the premiums paid by beneficiaries;"
Now the counter argument:
"It seems plausible to me that the marginal cost of Medicare’s piggybacking on IRS tax collections and Social Security’s operations is close to zero. That the program can leverage existing federal infrastructure, which would exist in essentially the same form even if Medicare didn’t, is a feature not a bug. It’s what you’d expect from an efficient government, not an inefficient one."

You can read more about it here. A few remarks on Medicare’s administrative cost | The Incidental Economist
I still need to study more but above is a start.

BTW, pot should be legalized and regulated like alcohol. (disclaimer: I personally never even smoked a cigarette in my life let alone smoke pot. Pot usage should be a personal choice.)

Nice exchanging thoughts with you, brp987.
Thanks for being nice.

Mike

It happened over 15 years ago. (The guy worked back and forth between NY and London. No, he did not become a British citizen as tax there was even higher. Go figure.)

JD, please watch "Too big to fail" if you have not. It will give a glimpse of how Wall Streeters think. I am going to read the book.

I think by and large, the members of this forum are free thinkers.
Just as we are willing to work on our cars ourselves, we are free thinkers who make our own decisions. I only hope that the information I encounter during my (re)search is correct. Otherwise, GIGO, right?

Thanks again and safe missions.

Mike

P.S. Can I get a signed copy of your 1st ed. autobiography when it comes out?

Anyone remotely "in the know" see's where things are going, and it isn't anywhere near resembling a positive direction.......Black, White, Yellow, Red, Christian, Jew, Islam, Atheist, Gay, Straight, Blah, Blah, Blah..............

The Numbers are the Numbers, They don't look good.

If you are currently paying taxes, you're screwed.

If you're currently not paying taxes, you're eventually gonna be screwed.

If you're a business type, especially an owner (C Corp, S Corp, Sole PPS, LLC, etc.), seek counsel or sell, providing you can find a buyer...........:ah:

Pretty Upbeat Huh? :rolleyes:

what defines an economy? does the government work it up and enforce it on the public, or is it matter of money in verus money out?

the government may mildly modify the rules, but from my point of view, the majority of what we define as 'the economy' is just business. if you wanna cut and run that just makes you an unamerican b!tch that's on the loosing end regardless of president. take your failing business, cut and run, and blame it on the president. still a b!itch from my pov.

of course, i'm canadian and know nothing about how money works; i just sit here end enjoy one of the best economies on earth.

I suggest you read the papers, specifically the Business Section. That is exactly what is occurring........your b!itch :rolleyes:

Hip Hop intro to Keynes vs Austrian school economics:

nicely done video produced by some George Mason university econ students

Fight of the Century | emergent order

Nice video.
It summarizes the two schools quite well.

The following isn't a video but it compares the supply-side and the demand-side economics. A Primer on Supply-Side vs Demand-Side Economics


For those of you without time to read the link above, here are some interesting questions:

1. If lower tax creates jobs and is good for economy, is the best tax rate 0% for everyone? Never mind the social programs but who then pays for the military?

2. Is the factory not hiring because tax is too high? Or, because no one has the money to buy?


Also, can we agree that we ALL pay taxes?
If you are inclined, you can follow this link. Misconceptions and Realities About Who Pays Taxes — Center on Budget and Policy Priorities

If Moochelle Obama stopped spending taxpayer money, what do you think would shrink first, the GNP or the deficit ?

Social security entitlement?
 

Quote: When Warren Buffet said the tax rate should be higher, I remember some people telling him and him alone to pay more if that is his belief. Well, if any of you guys think that there is too much "entitlement" given out the government, your can promise to not collect social security. Why add to the deficit?

I personally agree with Warren Buffett. I am firmly a right-leaning center guy, but who is this Grover Nohrquist, and why does he have the GOP by the b*lls? I never voted for they guy.

Back to social security: How did it become known as an entitlement? I am not naive enough to think that it will be my only means of support, but I also know that it's something I have paid for with every paycheck I have received. The media has allowed the self-serving politicians to shift it into the same category as food stamps. If it truly is an entitlement, let me have all the money I have deposited, and I will invest it in something more 'noble'.