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Old 11-08-2012, 06:29 PM   #68
Buehler445 Buehler445 is offline
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Quote:
Originally Posted by banyon View Post
I think our country will be worse for many reasons, and it would've been worse with Romney too.

The big one is just the constant pressure on US incomes to reach equilibrium with the Chinese/Indian/Indonesians. They still have too many people willing to do our jobs for pittances and our incomes have a long way to go down.

Reaching equilibrium will continue to be very painful for most Americans, especially the middle class.

Until we have leaders willing to confront these problems openly and aggressively, we are in a downward spiral.
I agree with the bolded part. In all likelihood, real problems would not have been implemented. However, Romney may have at least slowed the bleeding.

However, IMO, the only answer is not necessarily competing with India, China, etc. We can provide jobs with different value added functions. However, business has to have an environment to thrive. To me, that environment has to be stable in terms of taxes and requisite overhead costs (obamacare), a lower tax burden, and less intrusive regulation. All of these things Obama has destroyed.

But no, America is not going to become a manufacturing powerhouse that it was in the 40s and 50s. Those days are over.

Quote:
Originally Posted by HemiEd View Post
The whole process is broken.

I don't think anything is going to get fixed as long as the politician's main focus is running for re-election, from their first day on the job.

If the offices were limited to one term, difficult choices could and would be made.
Maybe. Sometimes experience is good. But unless it gets back to public service instead of advancing one's career, little progress will be made IMO.

Quote:
Originally Posted by banyon View Post
Per household? 200k?

Why is that # relevant?

Wasn't all of the Obama/left discussion on $200k individual incomes and not household? Doesn't that make a pretty big (almost double in many cases) difference?
I'm probably not the expert on this, but I know I could run out of money pretty easy if I made 200K out here in bum****nowhere. Living expenses out here are cheap. I couldn't imagine being shelacked by huge taxes if I lived in high rent areas on the coasts.

The other important aspect is that self employed people that do not have a C-Corp have to pay taxes to accumulate capital. If you have an S-Corp, LLC, etc. and the entity wants to retain earnings, you have to pay tax on the retained earnings. So any business growth is taxed personally in the small business world. So any business growth that is to be financed by retained earnings over 200,000 is going to be taxed heavily.
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