Theres no comparison between Obamas tax plan and Hoovers, and Hoovers tax plan did not get us in the great depression, it didn’t help but it wasn’t even close to the chief cause.
Buying stocks on margin put us in the great depression. When everyone puts only 10% down on a stock then the market has no money.
Again I knoe McCain came off smug but in this type of debate a little emotion and a little offense would have done wonders for Obama.
He played it safe, and is still going to win, but it would have been nice to put it away.
i watched 40 minutes of the debate just now and i thought it was the strongest performance McCain has had at a debate. Especially early on i thought he did really well.
Moreover, i really felt that Obama did not take the opportunity to really quell some of the accusations or be aggressive where it mattered.
An example of that was the VP discussion. He praised Palin only, where as McCain cut into Biden pretty hard…
When asked if Palin was ready to lead, he should not have said “she is a strong candidate” or something like that. He should have said “i think the american people have already made that conclusion” or something to that affect to remind everyone of how poor a choice she is. Moreover, he needed to remind in a subtle way about McCain’s age and how it is a significant issue without really focusing on it.
I didnt watch the whole thing, it may have changed towards the end, but up to the VP part i would say it went to McCain as handidly as all others have gone to the Dems.
1 - McCain is out of touch. Hoover reference?..I’m sorry did he say “The Great Society”?..My wife did a double take. The MTV generation has no idea about what he refers to half the time. Maybe he does have a point half the time, but being the angry old desperate codger doesn’t hold sway with folks under 50.
2 - Smug does NOT always work. Eye-rolling cost Gore the 2nd debate. And who can forget “YeeHaw!”. He calls 'O young wet-behind-the-ears, but he came off extremely childish. And the “I sling mud in the media because you weren’t available for a debate” – I’m sorry, did a presidential candidate REALLY just say that?
3 - It actually was the best debate so far, and the credit for the tone can be McCain going on the offensive. I don’t agree with him, don’t like him, and won’t be inviting him to Thanksgiving dinner, but he set the tone.
Debates 1 and 2 merely played to each base. Obama and McCain supporters each felt vindicated. Independents had nothing to sway them. They might as well have not existed.
This debate strengthened each base. I would bet dollars to donuts that the majority of undecideds are decided now. They will be split to those who got a kick out of old ironsides getting scrappy. Others who were put off, and want a more tempered president, will lean towards Obama.
Aside from the Palin nomination, I think this is the last great polarizer.
Turns out he has no license. He works for someone else, and does NOT own his own business.
Doesn’t even earn $250k/year, so no change to him. It was a hypothetical, as if he had the scratch to purchase his employers business.
Oct. 16 (Bloomberg) – ``Joe the plumber,’’ the Toledo, Ohio, man whose complaints about Barack Obama’s tax plan were featured in the final presidential debate, owes the state of Ohio almost $1,200 in back income taxes.
I saw him on CNN, he said he hates Social Security, open borders and feels the Iraq War is great and said our homeless have cell phones.
He basically is a huge liar. If he told Obama that his ‘story’ was hypothetical I wouldn’t have a problem but since he never did he should just be forgotten.
OK after a day of lack of knowledge of income taxes I have to post.
YOU ONLY PAY TAXES ON PROFIT/INCOME.
There are different ways to do this depending on your tax status, for example c-corp, s-corp, LLC, etc.
Eclipsed should be able to name specifics if need be.
But basically…
If Joe the plumber sells $250,000 of goods and services and his expenses(gas, supplies, materials, payroll, etc) are $250,000 he essentially pays no INCOME taxes.
If he does $1,000,000 in sales/service and has $750,000 in expenses he then pays taxes on $250,000.
BUT keep in mind he will pay a bunch of other taxes while conducting business.
I had to post something because it seems like no one has a clue including Obama, McCain, TV personalities, etc.
I don’t know WTF Obama was talking about with capital gains on small business and quite honestly he didn’t sound like he knew what he was talking about.
Thank you for posting that clarification. I was tired of people saying “250k a year in sales for a small business, that’s nothing.” Which is true, however 250k of pure profit for yourself, after exhausting all possible opportunities to write off/depreciate/expense stuff, in a year, means you either have a short bus acountant, or you are doing VERY well for yourself.
In terms of capital gains on small business, I think he meant either people investing in small businesses, or small businesses that invest their capital???
