Dec 112014
 
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Noted economomist  Milton Friedman may have passed away in 2006 but six years later some of his sage advice may still be working in a positive way for the country. As President Obama looks to increasing the U.S. inheritance tax – some call it a ‘death tax’- from 35% to 55% we come across an interesting quote from noted  economist Milton Friedman on the subject. In 2006, when long time, noted economist Milton Friedman was speaking at a college campus a student porposed that there should be a 100% inheritanceto better spread the wealth around to everyone. Friedman countered that such a tax would take away all incentive from workingand that the country would quickly go down the tubes with such a tax. Businesses would spend off large amounts of money frivolously at year end that it would have a negative affect on the eonomy and business and job growth. Many countries, such as China, have done well of late with NO inheritance tax, again. Companies there can now reinvest the money they would have given the government, instead, to growing their busiensses and jobs.

RIGHT TO WORK

Despite President obama’s recent ‘campaining’ in Michigan, voters supportedthe ‘right to work’ whereby workers in factories, such as the auto plants, can make their own choice whether they join workers unions or not. Now, one can avoid the stiff union dues if he wants and put the money that would have gone there into his own pocket where he can, again, invest the money if he wants, rather than give it to pay union admin costs. Looks like a positive sign for the economy, and 24 other states, reportedly are , similarly, ‘rgit to work’ states.

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May 252013
 
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Today heard a Very strange view of the financial situation in America from one of the top radio financial advsiors.

 

Without mentioning any names, he stated how the stock market has had its best run of any president while President Obama has been in office. The 18% overall increase during his four plus years is higher than any other president in history. In one breath he credits Obama but then he and his partner say that it’s really just a matter of luck and that  Presidents have little to do with the success of the stock market during their terms in office. Which is it now – make up your minds!

 

Isnt’ there something to the fact that the Obama administration has artificially kept interest rates low and printed more money to stimulate the economy in the short term? Sure,  it’s immediate gratification that will see  some immediate growth now as overall debt goes through the roof but down the line there’s sure to be a major ‘correcton’ (as they say) or two or three.

 

 

People have short memories and may  forget the numerous downturns  in the market  such as the dot.com burst; we’re very likely to see a similar thing happen soon,  after such a long run of  growth – and artificially stimulated, much like the dot.com period had been, where  internet companies  were riding high for awhile without producing any real capital, and then…BOOM!  Lots of former millionaires. 

 

 

Had Romney been in office the stock market might not have done so well in the  short term but we’d probably have more dollars in our government coffers now and  lower debt.   It’s a GENERAL tendency for democrats to spend (tax) now and for Republicans to save for tomorrow.  For sure our financial planning friend is benefitting by the more people who go into the market, so, no doubt he can take the view he does. But, it doesn’t seem  like a sound one to us.

 

 

 He also said that the market success primarily benefits conservatives since they  have most of the money and do most of the investing. that may or may not be true but there are a lot of liberals, like Warren Buffett and the silicon Valley Techie crowd that has benefitted, so one can’t make a blanket statement on this.

 

 

Then, this finanical person went on to say that despite the success of the market we’ve had one of the lowest turnouts in spending and that ‘it’s a shame’ more people haven’t taken advantage of the upswing in the stock market. I wonder if he stopped to think that with the down economy outside of the stock market that a lot of people who might like to invest can’t afford it.

 

 

It’s amazing how easy it is for views to get so twisted, just like we see in the adminsitration. Fortunately, we’ve finally seen some die hard liberals like Chris Matthews start coming around , financial or otherwise to the other side. But to hear something like this  re.  the economy is scary.   A financial advisor like this could destroy people.  I hope a lot of people don’t follow this financial person’s advice and invest what little savings they might have only to see a big market drop in the near future.

 

 

He feels there’s no reason the stock market won’t just keep going up as it’s been formore than six years since Bush was in office; hasn’t he heard of trents and that most stock markets don’t go much longer than four or five years without a reversal, especially with an economy in the precarious position it is. Sure , homes are finally selling, too, but that’s also an inevitable trend after a long downturn. The market is certainly not likely to continue it’s long ascent forever or even for very long, as these guys would have you believe

 

 

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Top Financial Advisor:  ‘We’re Lucky Obama Won the Election’

 

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Sep 082012
 
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Obama Press Conference Today – US is not better off under Obama

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By David Jackson, USA TODAY
9-7-12

Now that the political conventions are over, the Republicans argued Saturday that the United States has suffered under President Obama’s leadership.

“It’s time for rhetoric to meet reality,” said Sen. John Barrasso, R-Wyo., in the weekly Republican radio address. “The reality is that America is not better off than it was four years ago.”

Barrasso criticized Obama over high unemployment and federal debt, a drop in household income and a spike in gas prices. The Wyoming senator, a doctor, also attacked Obama’s health care law.

“The president’s policies have failed to produce the results, accountability, and solutions the American people deserve,” Barrasso said. “The Obama Administration is simply not moving our country forward.”

Republican presidential candidate Mitt Romney is using the “are you better off” argument — first used Ronald Reagan against Jimmy Carter in 1980 — in his current race against Obama. Romney was nominated at last month’s Republican Convention.

At this week’s Democratic Convention, Obama and aides said the country is indeed better off since he took office during a near-depression begun under predecessor George W. Bush.

Obama said Romney’s economic policies — tax cuts for the wealthy, fewer regulations on businesses — are the ones that led to the financial meltdown in the first place.

 

 

CAPTIONBy J. Scott Applewhite, AP
The Republican radio address:

“Hi. I’m Dr. John Barrasso, United States Senator for Wyoming.

At the Democratic convention this week, President Obama tried to make the case for why he needs more time to do the job he was elected to do four years ago.

As usual, the President gave a lofty speech. But his vision for America’s future comes down to bigger government, higher taxes, and more spending.

The conventions are over now. The soaring speeches have ended.

It’s time for rhetoric to meet reality.

The reality is that America is not better off than it was four years ago.

Today, 23 million Americans are unemployed or underemployed. Many are our friends, neighbors, and family members.

The undeniable truth is, President Obama is on track to have the worst jobs record of any President since World War II.


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When the President was hyping his so-called stimulus program, his economic team claimed unemployment would not go above 8 percent, and that it would be below 6 percent by now. Instead, it’s been higher than 8 percent for 43 straight months.

It’s bad enough the stimulus money was wasted. Even worse, he borrowed the money, much of it from China.

Household incomes have dropped by more than $4,000, while the cost of everyday living has gone up.

Gasoline prices have gone up another 30 cents a gallon in just over a month. Americans recently paid the highest prices ever on a Labor Day weekend.

One out of every seven people in America is now on food stamps.

In terms of global competitiveness, the United States has dropped for four straight years. When President Obama took office, we were number one in the world. Now we’re number seven.

American businesses are at a competitive disadvantage because our tax rates are the highest in the developed world.

Americans know what works: low taxes, reasonable regulations, and living within our means.

President Kennedy understood that. He said: ‘Persistently large deficits would endanger our economic growth and our military and defense commitments abroad.’

He said that 50 years ago, in 1962. Washington’s budget deficit that year was $7 billion.

From $7 billion then, to a $1.2 trillion deficit this year.

Obama Press Conference Today – US is not better off under Obama

For every year since he took office, President Obama has spent at least a trillion dollars more than Washington took in, all of it borrowed.

Under his watch, government spends too much, borrows too much, and grows bigger every day.

President Obama’s record of failure has come at a great cost to our country and our future.

The President’s policies have failed to produce the results, accountability, and solutions the American people deserve. The Obama Administration is simply not moving our country forward.

It’s been said that, faced with his record, the President has changed his hope and change message of four years ago to one of divide and conquer today.

More presidential rhetoric, and a plea for more time, won’t heal our economy.

A healthy economy comes from a growing private sector.

Yet the President does not seem to appreciate or value the private sector. Remember, he said if you have a business, you didn’t build it, someone else did.

In Wyoming, and in communities all across the country, there are bakers and florists, and dry cleaners and farmers who did build their businesses, and whose families have been working in them for generations.

Those business owners know what President Obama does not.

They understand, as Ronald Reagan put it, that you can’t be for big government, big taxes, and big bureaucracy, and still be for the little guy.

As a nation, we are being bled by overspending, choked by overregulation, and paralyzed by a lack of affordable energy.

Just look at the President’s health care law.

The American people knew what they wanted from health care reform. They wanted the care they need, from the doctor they choose, at a lower cost.

Instead, they got a $700 billion cut to Medicare; a government mandate that everyone must buy insurance; funding for IRS agents to investigate you; but too little money for doctors to treat you.

The American people want energy security. Yet the President continues to block the Keystone pipeline and the oil and jobs that come with it.

The American people want financial security for their children. But Washington has piled a mountain of debt on the backs of future generations, and the President just keeps adding more. On his watch, the national debt just passed $16 trillion.

President Obama says he deserves a grade of ‘incomplete’ on his handling of the economy.

But people only ask for an incomplete when they know they’re failing.

He’s now asking you to give him more time.

The question is — can we afford to give him that time?

Republicans have the solutions to help create jobs and get our economy going in the right direction again.

Instead of giving President Obama four more years to continue the policies that are not working, it’s time for a change.

Thank you for joining me today.”

Obama Press Conference Today – US is not better off under Obama

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