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test54 · 02-24-2009, 04:29 PM

Yes cause 4.6% for all over $250k will bankrupt that whole segment of society. And this thread was started about not paying taxes, those Swiss accounts are primarily for that purpose.

Dawg · 02-24-2009, 05:59 PM

Quote:

Originally Posted by LunkHead

Wirelessly posted (BB 850)

Everytime Obama opens his mouth, the stock market tanks.....

well it should go to hell in a hand basket tonight

test54 · 02-24-2009, 06:06 PM

went up today with Bernanke talking of an upswing towards the end of the year.
personally don't care at all about wall street. I know a lot of investments go the way it goes but the industry as a whole is crap imo.

djm2 · 02-24-2009, 06:46 PM

Well, what I heard is that the financial markets -- especially the banks -- liked the fact that Ben repudiated the fears of nationalizing the banking industry. The prediction of a year-end up-swing in the market as supposedly not a big factor in the rally. Note, however, that I deliberately use the word "supposedly."

monkeypaw · 02-24-2009, 07:48 PM

Quote:

Originally Posted by test54

Yes cause 4.6% for all over $250k will bankrupt that whole segment of society. And this thread was started about not paying taxes, those Swiss accounts are primarily for that purpose.

If it's just a 4.6% surcharge on $250k or higher I'll eat my hat. Unfortunately it's going to be capital gains as well and maybe some other taxes. There's no way the math would work out otherwise. (Note that Bill Clinton increased income tax rates but reduced the capital gains rates. That's the reason there was such an increase in tax revenues.)

Of course the Swiss accounts are for avoiding taxes. That's what people do if they can. Even more important is people do not invest into countries with high taxes unless they can get even higher returns. And they take money out of countries with higher taxes.

In 2006, the French government estimated that a millionaire a day was moving out of France because of the high taxes.

rjw3000 · 02-25-2009, 12:15 AM

gee, what a shock. AIG is looking to sell assets now, just like I was saying they should've been forced to do from the get go and save us wasting bailout money on them.

It's sad how little common sense has been applied to this whole thing by these supposed best and brightest. Maybe they are too close to the situation and have too much of their own personal interests to see it clearly. It sure looks that way to me.

monkeypaw · 02-25-2009, 04:05 PM

Quote:

Originally Posted by LunkHead

Wirelessly posted (BB 850)

Everytime Obama opens his mouth, the stock market tanks.....

Damn, I really thought today would be the day that broke that string. But no, down again.

JSanders · 02-25-2009, 04:15 PM

Quote:

Originally Posted by monkeypaw

Damn, I really thought today would be the day that broke that string. But no, down again.

What, surprised that (so far) the market is down yet AGAIN today?

Obama opened his mouth again last night promising spend yet MORE billions of your dollars and your kids and grandkids.

Wall Street, the markets, (and your and my 401Ks and IRAs included) are not impressed at his spending plans. They do nothing for the economy (except many of his buddy's personal economies),

monkeypaw · 02-26-2009, 04:59 PM

Another day, another surprise. Healtchare companies like Humana and student loan companies like Sallie Mae got slaughtered after the budget proposal was released. The President thinks the government can do a better job. $60 billion in medicare fraud each year? Well who cares, let's add more programs.

Ok, I get it now, no need to keep hitting me over the head. Big oil = bad, banks = bad, healthcare companies = bad, CEOs = bad, private jets = bad, Federal Government = good. I get it now. I'll say whatever you want me to say, just stop slapping me around.

LunkHead · 02-26-2009, 07:45 PM

My parents have lost well over 100K in the market since this started....

monkeypaw · 03-02-2009, 06:25 PM

Geithner is going to come out of his cave and testify in the House on the President's budget proposal tomorrow, March 3.

He'd better turn in the performance of his lifetime.

LunkHead · 03-02-2009, 06:33 PM

The DOW will drop 500 points after he opens his trap...

TBOLTRAM · 03-05-2009, 12:51 PM

Quote:

Originally Posted by LunkHead

The DOW will drop 500 points after he opens his trap...

Optimist.

LunkHead · 03-05-2009, 01:04 PM

Quote:

Originally Posted by TBOLTRAM

Optimist.

greggov · 03-05-2009, 01:18 PM

I don't know about you guys, but I'm beginning to believe in all this "change" that was talked about...I believe in the part he didn't mention.

...what they failed to mention to the general public was "[all you're going to have left when I'm done is spare] change [if you're lucky]"

DJIA on November 5 (day after election day): approx 9,139
DJIA on January 20 (inauguration day): approx 7,949
DJIA today: approx 6,700 as of 1:15pm

Well, at least the investors have confidence in Obama and his team...