WATCH FOR THE SHIT COMING AT YOU
This morning I got in my email such a stupid piece of shit I couldn’t believe it. I’m in a bit of a rage over it. This complete fabrication of reality comes from rather obviously a rabid, crazy, stupid, extremist, right wing influence peddling group ;
AmeriPAC email@example.com and is reprinted below.
Democrats Wreck Bull Market
Biden Refuses To Answer Wealth Redistribution-Marxist Questions
"When I think about things when the lights are out and I'm tossing and turning in bed, it's how do we make sure we fulfill the commitments to the American people that we've made throughout this campaign." – President Elec. Barrack Obama
At the end of 2002, shareholder wealth stood at $10.075 trillion. After cutting the capital gains tax from 20% to 15% and the dividends tax from 38.1% to 15%, shareholder wealth grew all the way to a peak of $17.294 trillion in 2007. Estimates now put shareholder wealth at about $12 trillion.
OK, assuming the figures are correct, all of the attributes for the fall of this market was in place before the Dems took control of the congress. And, they voted with the white house demands almost completely. Plus, Obama is not yet president. He can’t control anything yet.
So, when the Republican Congress cut investor tax rates, $7 trillion of shareholder wealth was created—a gain of 70 percent. When Pelosi, Reid, and Obama took over, $5 trillion of shareholder wealth was lost—a decline of 30%.
It is questionable that the tax cut created the $7 trillion in wealth for shareholders. What did happen is that due to the 25-40 asset multiplier factor in banking, debt was increased by $7 trillion which through creative accounting was shown as assets.
If you want your 401(k) or other retirement plans to grow, your best bet is a Republican Congress that will cut nest egg tax rates and keep them low. When Democrats are in charge, markets price in expected tax increases.
What are they talking about? The cuts in retirement vehicles has taken place by robbing these vehicles to gain liquidity. Has nothing to do with the Dems other than they voted for all the Bush policies. Maybe indeed the dems will raise taxes. Now let’s see, just who will that effect? Sure not the lower 50% in incomes. Ahhh, those poor people with the $200+ K income per year. I’m sure they will become destitute.
Obama needs to redistribute YOUR wealth to honor his Campaign Promises
Just whose wealth is going to get redistributed? It sure as hell isn’t mine and the large majority of the lower 50% of the economic part of the population.
The public outcry of real Americans like you and Joe the Plumber is finally getting some light shed on Mr. Obama's wealth redistribution agenda supported by Socialist Democrats in Congress. The corrupt media can't hide it any longer. The plan is to bring an end to the
Socialist Democrats? Bull shit. You might want to call it egalitarianism but socialism, again bull shit. Hell, the biggest surge in socialism has taken place under Bush and policies and every since Reagan. Capitalize profit earnings, socialize loses, that is, the state puts the loses onto the general population. Government ownership in private corporations? That is called Socialism and what the current administration is doing with a vengeance.
They want total control of what you see, hear, think, and do. They will stop at nothing. NOW, they are aiming at your 401k and other retirement plans and they are going for the kill.
And just what in hell has the Repugs been doing? Control of the media is their expertise a-la Karl Rove.
Democrats Target Your 401k Retirement Plan with Taxes
Yes that's right, Liberals in government want to seize these assets for their own. Can you hear them laughing. Just look at what James Pethokoukis, the money and politics blogger for U.S. News & World Report has said:
In place of 401(k) plans, she would have workers transfer their dough into government-created "guaranteed retirement accounts" for every worker. The government would deposit $600 (inflation indexed) every year into the GRAs. Each worker would also have to save 5 percent of pay into the accounts, to which the government would pay a measly 3 percent return. Rep. Jim McDermott, a Democrat from Washington and chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, said that since "the savings rate isn't going up for the investment of $80 billion [in 401(k) tax breaks], we have to start to think about whether or not we want to continue to invest that $80 billion for a policy that's not generating what we now say it should."
And just what has the Repugs suggested for Social Security. Privatization, because the government has spent all of social security on wars and pork and substituted IOU’s. So let’s give control of your taxes in SS to the stock market. And take a look at what those investment vehicles for retirement consist of primarily. Notice how the majority is invested in a workers company stock, and the bubble economy that took a nose dive. Those accounts have been only numbers on a spread sheet for a long time and do not represent real wealth at all. Remember the Enron and World Com bubbles and the people burned by having company stock in their 401K’s? So indeed lets just all jump into the stock market in one form or another and see how much money is left over for retirement. All of the figures I have seen concerning the long term stock market gains for individual investors has been below inflation rate. Yes, some do gain handsomely. Most lose their asses. But talk to a few people that were depending on those investments for retirement. If you retired in a down market, you are screwed.
The Democratic plan is to SIEZE your 401k and take $80 billion that is currently the property of American citizens. Effectively, this plan will end all of the incentives that the majority of Americans not only enjoy but rely on. I am sure you or someone you know takes advantage of their employer matching their 401k contribution. Under the iron fist of the Democratic empire your employer would no longer receive a tax benefit for matching your contribution, so they won't do it. And you will lose half of your retirement contributions. And don't forget, that you will lose your tax breaks from the 401k plan also, so you'd be paying the government to let you retire. Sounds like fun?
Hell, we already pay the government to retire. I sure had to pay taxes on my 401K and that was during Bushes administration. And, notice that they don’t mention vestment. At the rate jobs are moved around, it’s amazing that anyone get 100% vestment. In today’s economy, the $80 billion they mention is a drop in the bucket compared to the $50 trillion in debt we have. Corporations have been cutting employee benefits as fast as they can, increases the bottom line you know. And notice that as unemployment figures have gone up in the last 30 years or so, stocks go up. Hey, anything here that looks funny to you? One thing for sure, the right wing does not advocate for full employment. In fact, back in the day of Greenspan, he publicly said that a rate of 4 ½% unemployment was necessary for a healthy economy. Now why would that be?
Don't let the tyrannical rule of socialists take hold, put a stop to the unholy trinity of the Democrat controlled Senate and House and potential president Obama. Do not let Barrack Obama bring an end to this great country!
And just how in hell would this be stopped? By donating money to this bunch of sleazy ass holes as is below. Now there is a real solution.
We need your help and your donations to win the fight for truth. Send this email to everyone you know and have this video viewed.
Mr. Obama has always been against an individuals' right to control and spend their own savings. He has a narrow, selfish and myopic view of the world we live in and the idea that he can tax whatever he wants to whenever he wants to.
And of course narrow, selfish and myopic views of the world is a characteristic only of the Dems. Sheeesh!
In 1981, President Reagan, a GOP Senate, and a working majority in the House pushed through cuts in the capital gains, dividends, and corporate tax rates. Shareholder wealth grew from $1.3 trillion at the beginning of 1981 to $3.4 trillion at the end of 1989.
And again, who controlled most of the shareholder wealth, just once more let me know.
In 1994, Republicans took over both Houses of Congress. Government spending restraint and a capital gains tax cut followed. Shareholder wealth grew from $5.7 trillion at the end of 1994 to $15.4 trillion at the end of 2000.
Spending restraint? What the hell are they talking about? They evidently took out the
In 2001, Democrats took the Senate when Jim Jeffords switched parties. Shareholder wealth fell from $15.4 trillion at the end of 2000 to $10 trillion at the end of 2002—a nosedive of 50%.
Now just how in hell did a majority of one in the Senate accomplish that? Please tell me how. Especially when both the house and senate were rubber stamping everything the white house asked for with almost no opposition. And of course 9-11 had absolutely nothing to do with this. No explanation of why this is a world wide problem either, not just
In the 2002 elections, Republicans won back control of the Senate. In 2003, the capital gains tax was cut from 20% to 15%, and the dividends tax was cut from 38.1% to 15%. In 2004, they expanded their majorities in the House and Senate. Shareholder wealth grew from $10 trillion at the end of 2002 to $17 trillion at the end of 2006.
Again, just who was it that controlled all this paper wealth? I think this was called an economic bubble for which we are paying today.
In the 2006 elections, Democrats took control of both sides of Capitol Hill. Shareholder wealth fell from $17 trillion to about $12 trillion today. Markets have priced in an anticipated capital gains and dividends tax hike.
Oh really? Anticipation indeed. Notice that the tax hike did not take place and the market is still in free fall. I also notice that nothing was said about during the 50’s when corporate taxes were much higher and the stock market was going up. Of course, back then stocks were mostly valued in real wealth of the company, not shyster accounting schemes as is today. And, still no explanation of why this economic slide down is world wide, not just in
The lesson is clear—Republican majorities in Congress create new tax cuts on shareholder wealth, and prevent tax hikes on shareholder wealth. This creates an environment where shareholder wealth goes up over time. Democrat majorities threaten shareholder wealth, and markets price in anticipated tax hikes.
The Obama-Biden campaign refused to answer real questions about the economy, tax increases and where the money would come to spend. They are unqualified and worried they cannot deliver on economic promises with their views and policies, and avoiding the real truth.
The media will continue to follow Obama the prince of spin down the economic road of ruin. We need you to see and hear the truth about an Obama economy. We need your help to keep the Democrats out of your 401K's and other assets and mindlessly print, collect and spend your tax dollars.
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Those of you who have been coming to this site for any length of time know that I am radically opposed to both the corporatist parties; I couldn’t be paid to support either one. Both are headed up by a plethora of liars, thieves and power hungry assholes. I do hope when you all read this article you are able to pick out the utter bull shit it contains. To blame the Dems for the Bear market is one of the most absurd things I have seen so far. Freeacre and I had commented to each other just after the election that now the blame game begins and the Repugs are going to heap on the Dems great finger pointing and name calling and blame everything negative on them. They flat out are NOT going to take ANY responsibility for their part of the mess. The fact that I know with absolute certainty that this kind of propaganda is going to sit very well with a large amount of the population, can only reinforce the view that the general population is made up of idiots. I’d sure like to see a plan to keep that kind of idiocy completely away from the voting booths. I sure would be surprised to see that the general population rejected this bull shit.
Evidently the authors of this bit of trash also feel it is just dandy for the economy to completely focus the country’s wealth into the least hands that it can. The article doesn’t bother to point out just who had all of this wealth that they are so proud of, nor how it was generated, nor in what form it was (all paper assets), nor that the Dems gave Bush everything that he wanted during the downslide. They also haven’t explained the Obama appointments to various posts that are the old guard that the Repugs have used for years.
I expect to see the right wing ideologs putting more and more of this kind of crap out into the population. I would even suppose that there are those putting it out that actually believe it. Talk about creating division in the population. Yeh right, lets all pull together now, cross ideological lines and sing Kum-By-Ah, in 5 part harmony of course.
By the way, inserting that article seemed to completely tear up the formatting of this post. Please excuse as all my efforts to straighten it out fell short.