I feel it is time to update Tytler's prediction regarding the life cycles of Democracies. The election on November 4, 2008 shows voters continuing to move toward politicians who promise to give them the most benefits, benefits which lead down the road to bankruptcy. Our country is virtually
bankrupt. At this time, the worst in our financial history, the United States is a nation of citizens who depend on the government for things that should be their own responsibility. We are now in the next to last phase of Tytler's predictions, DEPENDENCY! We are becoming a nation of citizens who cannot or will not function on their own. How many more years before this once great country collapses? What a shame. This is not what our founding fathers had in mind.
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Yes, and Obama is increasing taxes on capital gains and dividends, in addition to the other sneaky tax hikes.
Instead of using socialist, anti-capitalism methods, Mr. Obama, why not try stimulating the economy with some pro-growth, pro-business solutions, such as lowering corporate income taxes, lowering or suspending payroll taxes, eliminating for a time the capital gains tax for people who buy real estate (Bob Brinker's idea), and lowering or eliminating capital gains tax on stock, option, and mutual fund sales. At least you incentivize people to invest, take risk, and grow their business, instead of punishing the successful through higher taxes. Continuation of your present course, Mr. President, will only lead to more job losses and a hurt economy, as more and more real producers and risk-takers say "The juice ain't worth the squeezing" and sit home to collect government benefits or otherwise milk the government. "Mr. Obama, are you listening???"
Good luck to all.
Christ Milesis, President, Track Your Trades
Generate Schedule D for your tax return!
http://www.TrackYourTrades.com
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