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Forum Post: Obama's Budget

Posted 12 years ago on Feb. 13, 2012, 7:52 p.m. EST by Libertarianliving (149)
This content is user submitted and not an official statement

SO are you "Occupiers" cheering Obama's new budget plan??? He wants to tax the hell out of "investment income". Yaaaaayyyyyy Yaaaaayyyyyy Yaaaaayyyyyy. Cheer all you sheeple. Your messiah is "looking out for the poor", getting "those evil rich". One thing for sure if his bill does pass, it will be much harder for "the working man" to be able to accumulate enough wealth to ever become rich. I love how the sheeple cheer Obama doing things to solidify a "poor person's" existence as a "poor person".... Sell your home? That's investment income. Wanna invest in some stocks to try to accumulate some wealth so you don't have to live pay check to paycheck for the rest of your life? Forget it. You just count on that Social Security government check and Obama will continue to fight to make sure you get increases in it once dependent upon it. Class warfare is great, and you sheeple fall for it. Hey, maybe he'll raise the minimum wage so that EVERYONE'S income has less value.

48 Comments

48 Comments


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[-] 2 points by Chugwunka (89) from Willows, CA 12 years ago

His worshippers will cheer his proposal. The federal deficit means nothing. He'll just keep borrowing from China.

[-] 2 points by BradB (2693) from Washington, DC 12 years ago

what bill you talking about ?... I didn't know that Obama was allowed to make bills ?

[Removed]

[-] 1 points by hchc (3297) from Tampa, FL 12 years ago

We borrow from ourselves now. How fucked up is that.

[-] 1 points by B76RT (-357) 12 years ago

the bill is not intended to pass. his 2011 budget was voted down in the democrat controlled senate by 97-0.

[-] 1 points by MattLHolck (16833) from San Diego, CA 12 years ago

obama said "poor" and didn't know he was allowed to say words like "lower class"

[-] 1 points by Faithntruth (997) 12 years ago

The amount of stocks an average person of moderate income or low income can afford to buy will not add to wealth through dividend payouts. I had twenty shares of an aerospace company stock, and my quartely dividend payout was $9.00... Thats $36 a year! It would have taken 3 years to accumulate enough in dividend payout to buy one more share. Wealth comes from playing the market, which is just a form of legal gambling.

[-] 1 points by kylelee34 (48) 12 years ago
  1. Most of the long term gains from stocks come from dividend reinvestment

  2. Your not supposed to stop contributing to your portfolio at 20 shares.

  3. Company's raise their dividends over time.

  4. 3 years is way to short term for anyone interested in investing in stocks

[-] 1 points by Faithntruth (997) 12 years ago

I did not not stop contributing. My retirement account rolled earnings in, but this was a stock outside of work, and 36 bucks a year was not worth reinvesting... I aften forget about the $9 checks... Id find them when another one came next quarter.

Shoot, it isnt even a tank of gas for most people...

[-] 1 points by Middleaged (5140) 12 years ago

Maybe you bought a low dividend yeilding stock. Besides there isn't much government funding going toward aerospace unless it is a military stock.

This this site www.dividend.com/

[-] 0 points by Dell (-168) 12 years ago

what do you expect for 20 shares? Geezzz!

[-] 1 points by Faithntruth (997) 12 years ago

How many shares do you expect working class people with families to be able to afford?

[-] 1 points by kylelee34 (48) 12 years ago

10% of their pay. In Asia they save about 20%, and their on slave wages right?

[-] 1 points by Faithntruth (997) 12 years ago

What is their cost of living? Are they living in poverty? Do they have free medical care? Free food? Food they can at least afford? And how many hours are they working? Current reports seem to indicate they might as well just bring a sleeping bag to work.

Im just saying, dont over simplify... There is usually more to the story, and you dont state what percentage of asian workers do this, nor in what countries....

[-] 1 points by kylelee34 (48) 12 years ago

China is 20% S. Korea is 15% Japan 15%

The difference is that they don't figure out what they want to buy and then save the rest, they save first and then figure out what they can buy with the rest...something few Americans do.

[-] 0 points by Dell (-168) 12 years ago

hahaha! you should be in a mutual fund if anything. Geez - educate yourself. Whats the return on your aerospace shares whatever they are? what's the share price?

[-] 1 points by Faithntruth (997) 12 years ago

Thanks, but we sold it and bought apple stock when it was at the bottom of the barrel (hah ha) and have made $20,000. Im too old for the return on a mutual fund. Educate yourself and dont make assumptions.

[-] 1 points by Dell (-168) 12 years ago

great - so you made 20K - what are you complaining about?

[-] 1 points by Faithntruth (997) 12 years ago

It was pure luck, and it was not through dividends, which was what we were discussing. And I stand by what I said...average person cant afford to buy enough stock to make money off of dividends.

[-] 1 points by kylelee34 (48) 12 years ago

Apple hordes it's cash that's why it's shares have gone up so much, If they had paid out the Billions they have on their books you would have reinvested it into $20000 or more of smaller denominated shares. Most investors think Apple would be worth MORE to investors if they paid out dividends

http://www.fool.com/investing/general/2012/01/26/apple-the-worlds-largest-company-yes-maybe-sort-o.aspx?source=iaasitlnk0000003

[-] 1 points by Faithntruth (997) 12 years ago

This was my husbands choice to do... I think playing the market at all is no different than playing slots, which I also dont do. I watched too many coworkers lose their asses when the market crashed. Some had to put off imminent plans for retirement.

[-] 1 points by kylelee34 (48) 12 years ago

You haven't lost or gained anything untill you sell. People lose their ass because they get impatient for gains and fearfull of downturns. This makes them buy at the top and sell at the bottom, instead of staying with good stocks and patiently reinvesting the dividend, which by the way can be set up to purchase fractional shares if the check is not large enough to buy a whole share.

Also as I write this with dividends reinvested the S&P 500 is exactly where it was before the market tanked...people that were patient and didn't panic haven't lost anything. Being a good invester isn't about luck, skill, or genius, it's about dicipline and impulse control.

[-] 1 points by Faithntruth (997) 12 years ago

They lost the ability to retire because their retirement fund was based on the whims of reactionary adrenaline junkies who gamble on rumor and imagined future probabilites. The value of their portfolios changed in the blink of an eye. You are prohibited from cashing out before you reach retirement age, unless you lose your job. You pay a stiff penalty on top of whatever tax is owed.

[-] 1 points by fairforall (279) 12 years ago

I assume you are talking about 401k plans. EVery plan is required to have at least 1 safe or no-risk option, so if the people you are talking about are still at the whims of raj's, it is at their choice. Your husband did well with the apple buy.

[-] 0 points by Dell (-168) 12 years ago

ok - so what makes you think the average person is supposed to make money off dividends? is that yet another so called "right" we are supposed to have?

[-] 1 points by Faithntruth (997) 12 years ago

Are you insane? Did I say anything about rights to dividends anywhere? No. Dividend payouts are a reality of owning stocks. Goodbye.

[-] 0 points by Dell (-168) 12 years ago

so what's the problem?

[-] 1 points by Faithntruth (997) 12 years ago

Selling a home is a capital gain if one makes a profit. Perhaps we need to change the definition of profit to include only net profit after improvements, repairs, and account for inflation, which would reduce the amount tax is collected from....

[-] 1 points by ineptcongress (648) 12 years ago

$500,000 of that cap gain is exempt from taxation. however, with 40% of homes underwater since, and mant very badly underwater, not many people are having an issue exceeding that 500k exemption. that exemption should be eliminated for the sake of the gov't debt.

[-] 1 points by Faithntruth (997) 12 years ago

Good point...

[-] 1 points by Libertarianliving (149) 12 years ago

How about we just CUT TAXES?

[-] 1 points by Faithntruth (997) 12 years ago

The same reasonmost people dont cut their noses off to spite their faces... Taxes pay for maintaining the infrastructure, improving the population through eduation, holding extreme poverty at bay. If you think that is not important, look at the nations that lack these things, and if thats okay with you, move.

[-] 1 points by Libertarianliving (149) 12 years ago

Who EVER said "No Taxes"??? but how about we cut government spending so as to not "need" to raise taxes. They could easily start with making the government run far more cost effectively.

[-] 1 points by Faithntruth (997) 12 years ago

Yes, who did? Not I.

[-] 1 points by fairforall (279) 12 years ago

Unfortunately, this has been the most divisive president. Anything proposed will have issues simply because he has not earned respect. I had hopes for him from the start but he has turned out to be our biggest dissapointment.

[-] 1 points by Faithntruth (997) 12 years ago

No, the republican reaction to him has led to the divisivness. Bush was actually much more hostile to the left than obama has been to the right.

[-] 3 points by fairforall (279) 12 years ago

evidently you don't keep up.

any leader has opponents and proponents. getting them both accepting of your ideas is a the sign of a good leader. he has failed but then again, he had no history of leadership.

[-] 0 points by Faithntruth (997) 12 years ago

I believe the discussion was not about leadership, good or bad, but about generating a division. I have kept up, which is why i know and you could discover if you took an unbiased look, that whether by word, action, or inaction, the republicans in congress and dubya have been on a singular attack against even moderately liberal ideas and persons for the better part of this decade.

[-] 1 points by fairforall (279) 12 years ago

so you agree obama has lead a divisive administration.

[-] 1 points by Faithntruth (997) 12 years ago

Is english a second language for you? Can you read past a third grade level? Or is that a weak attempt at humor? Goodbye.

[-] 1 points by Middleaged (5140) 12 years ago

Actually - I would like a chance to make some Dividend Income.

Couldn't we tax dividend Amounts that are over $3000 per year. I mean, I actually wondered at one point if I could get $1500 per quarter in dividend, that pretty much would pay the $500 per month on my Mortgage (poor mans mortgage!).

4 x 1500 = $6000 per year... not much I'm telling you.

[-] 1 points by nobnot (529) from Kapaa, HI 12 years ago

I see your life is all about being rich.You will always be poor.

[-] 1 points by Libertarianliving (149) 12 years ago

I am far from "rich" Mr. Psychology. But I have done the things needed in life so as to not have to protest those who have more than I do by following some "movement"!

[-] 1 points by nobnot (529) from Kapaa, HI 12 years ago

Get it through your head it is not about those who have More,rather about those who do not have enough because a few have more than they could ever need. Remember Mr. Greedy it is about human needs. I have what i need in life also but this is not the issue.Obama is not the issue tax cuts are not the issue .Again human need is the issue.

[-] 0 points by PretendHitGirI (13) 12 years ago

I find Libertarians, or actually anyone protesting the problems in this nation, advocating investing a single dime in the stock market, to be most interesting.

A sad shame.

[-] 1 points by Libertarianliving (149) 12 years ago

The Stock market is a legal means for not so wealthy people to become wealthy.

[-] -2 points by PretendHitGirI (13) 12 years ago

Oh, because it is "legal" means it is also "lawful" or even morally right?

We both know better.

[-] 1 points by Libertarianliving (149) 12 years ago

So because YOU never made any money from it, it is "bad". Or who told YOU that gambling is "morally wrong", some goofy religion?

[-] -1 points by PretendHitGirI (13) 12 years ago

You assume wrong. It's clear that most people have no clue how that money is made and wants insane amounts of government to protect them from their ignorance.

Wrong tack, bucko, I've no desire to pay to protect ignorant idiots from their own greed.

When all the degenerate gamblers set out to extract wealth off basic necessities, as well as any and everything including the many trillions idiots have invested with unaccountable thieves, well, nothing good comes out of it except for the more intense concentration of wealth to the very few who write the rules of the games.

I did quite well in the market and learned better. I have no need to grow my money off the production of strangers. If you have something I want, I'm enough of a person to come get it from you and us both be happy when it's done.