Obama tells voter to "spread the wealth"

[spartan]

Classic "Deer in the Headlights" moment from tonight's debate.

I think disbelief would be a better description. Eye of the beholder I guess.

[cyberdude557]

Obama was confronted by a voter in Toledo. The exchange was interesting and very telling...

The voter said, "Your new tax plan is going to tax me more, isn't it?" And Obama said that it would. The man then said, "I've worked hard . . . I work 10 to 12 hours a day and I'm buying this company and I'm going to continue working that way. I'm getting taxed more and more while fulfilling the American Dream."

Obama's reply...
"It's not that I want to punish your success," Obama told him. "I want to make sure that everybody who is behind you, that they've got a chance for success, too. My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody. I think when you spread the wealth around, it's good for everybody."

Conservatives say this is proof that Obama is a socialist. Since "spreading the wealth" is a term frequently used by communists.

http://www.nypost.com/seven/10152008/news/politics/obama_fires_a_robin_hood_warning_shot_133685.htm

[oregonbucfan]

Stating what I know. hes a typical democrat... socilalist/ communist. Nothing new move on

[krazybuc]

Cyberdude.. seriously... i've watched you and a few others post NON STOP political after political posts.

I think if we did a search 95% of your posts the past 2 months have been to bash Obama.

Do you have just the slightest bit of a life at all?

Do you have ANYTHING better to do?

I am ALL for people knowing the issues and the candidates stances on them... but you need to get a life.

[cyberdude557]

I do a lot of my work on computers. And there are times when there isnt a whole lot to do while doing it but cant really be doing anything else. So it's easy to check through the headlines and the news to take pass the time.

And politics and elections is important to me. Not only has it always been an interest to follow politics and history, but I care about what happens to this country now and in the future. And especially this time a year, less than a month before an election, there is a LOT of political news.

And if you dont like it, I have a simple solution....dont read my posts.

[TheGladiator]

The plumber's shouldn't worry about his taxes; he should worry about the loan that he'll never get because the current state financial crises.

What do plumbers make nowadays anyway? From my understanding, Obama's plan affects people that make over $250,000 anyway. I know plumbers charge up the wazoo for minor work, but do they really make that much?

In regards to what plumbers make these days, there is one such company here that has around 40 plumbers that work for them. �They also do other mechanical work like heating/cooling systems as well, and larger scale stuff for commercial use, but I would venture to say that that particular company without looking at their overall standing is a $250,000+ yearly company for sure. �That is just one such firm in the area that I live in which is a bustling community of approx. 60,000 city, and within the area of maybe 75,000.

As far as that loan statement goes, there are still people making loans out there from what I've seen and heard, they were making them before this financial crisis and still are, it may depend actually on the firm that you borrow from, maybe if Joe the Plumber borrows from Wells Fargo he'll get his business up and running before Obama penalizes in his effort to be marxist in "spreading the wealth."

There are millions of "blue collar" business owner millionaires across the country.  Under the Obama plan they'll do 1 to 3 things....1) let go or not hire new employees, 2) look for ways to pay themselves in alternative ways, and 3) won't have as much cash to invest in additional equipment, technology, and vehicles to grow their businesses.

[ufojoe]

Classic "Deer in the Headlights" moment from tonight's debate.

The last 50 years with capitalism regulated (and kept on a leash) it has been the most prosperous and stable our society/ country has ever been. The last time capitalism had very little regulation we saw the worst economic period in recent history. This isn't a communist ideal, but common sense.

 Okay, so why was it then that when someone saw the issues that were happening in Fannie/Freddie, why the front to have it stopped?  Why did Barney Frank do his best to dispell the then rumors of trouble in Fannie/Freddie?  Why did the gov't not stop it back in '99?  Going back further, why was the gov't even allowed to create such garbage firms in the first place?  If we enforced what was in place it would not have been an issue, more regulation is not necessary, there isn't a need for new legislation to be enacted from the do nothing legislative branch.  After they barely were able to get it together to pass that socialist legislation from a couple of weeks ago.

Fast forward today, and we are seeing the pattern repeat itself as the economy is faltering due to the loosening of regulation (or as you put it not enforcing what is on the books).

Why is that?  Because the one industry regarding the need for regulation was for two GOVERNMENT sponsored enterprises.  There in lies the problem public sector inspired firms, acting in a private sector was a horrible idea.  Add to it the feel good legislation to sell houses to those who couldn't afford it, and enforce that legislation with the potential of lawsuits to the private sector if they didn't sell loans to those who couldn't afford them in the first place.

Penalizing success? Too much success leads to monopolies which only hurts competition. Again I have to ask why do many refuse to look at history? Capitalism fails as a system when it is not regulated and until it is proven otherwise that is what we know as truth.

 
Funny there is regulation that already looks into monopoly issues, and has already been enforced by our gov't and its various agencies.  I work in an industry that has been super-regulated already in the telecom industry. Penalizing success happens with extra taxes put on those that fit the bill being rich.

The reason why people are turning to socialism is becuase when you have others with deeply entrenched beliefs that capitalism with little regulation is "okay" it ends up being a polarizing issue.

Well IMVHO if people want socialism, there are plenty of other countries that they can go to for that, we atleast give them that choice to go.

What the hell does company turnover have to do with anything?   No one is taxing company turnovers, just pre-tax profits, i.e. after all the overheads(wages) are paid.  

Where in the hell did you pull that out of?  It was a statement of showing one such example of a company fitting the skillset and trade in question.  I happen to know of the business, because 1.)The company that I work for does business with them, and 2.) a guy that I work with married his sugar momma who just inherited that company.  I cited the 40 people thing because it is part of their advertising... They are one of the bigger firms in that particular trade, and considering that the individual that I know, his father-in-law as a wedding gift, gave him and his new wife a brand new Dodge MegaCab truck.  This is a firm that is in that $250,000+ bracket.

[TheGladiator]

Staying on the theme of the thread....

Joe the plumber was interviewed by Katie Couric (posted at politico.com):

Katie gets the first interview with Joe Wurzelbacher and, like everyone else in America, he talks like a pundit.

"McCain was solid in his performance," he says. "I still don't know where he stands," he says of Obama. "I'm middle class. I can't have my taxes raised any more."

He also says he actually isn't in the bracket where Obama would raise his taxes -- but he's worried that Obama will shift the bracket down.

He also said that, in his encounter with Obama, the Illinois Senator "a tap dance...almost as good as Sammy Davis, Jr."

http://www.politico.com/blogs/bensmith/1008/Joe_speaks.html?showall

[mjs020294]

There are millions of "blue collar" business owner millionaires across the country. �Under the Obama plan they'll do 1 to 3 things....1) let go or not hire new employees, 2) look for ways to pay themselves in alternative ways, and 3) won't have as much cash to invest in additional equipment, technology, and vehicles to grow their businesses.

Well seeing as its profits that will be taxed spending money on wages and/or equipment would be a smart short term move.  

[mjs020294]

What the hell does company turnover have to do with anything?   No one is taxing company turnovers, just pre-tax profits, i.e. after all the overheads(wages) are paid.  

Where in the hell did you pull that out of?  It was a statement of showing one such example of a company fitting the skillset and trade in question.  I happen to know of the business, because 1.)The company that I work for does business with them, and 2.) a guy that I work with married his sugar momma who just inherited that company.  I cited the 40 people thing because it is part of their advertising... They are one of the bigger firms in that particular trade, and considering that the individual that I know, his father-in-law as a wedding gift, gave him and his new wife a brand new Dodge MegaCab truck.  This is a firm that is in that $250,000+ bracket.

Totally irrelevant.  The question was about what plumbers "earn", and it no where near $250k.  If you own a company and your employees generate enough income for you to make $250k great, but that isn't the going rate for the trade.

[TheGladiator]

There are millions of "blue collar" business owner millionaires across the country. �Under the Obama plan they'll do 1 to 3 things....1) let go or not hire new employees, 2) look for ways to pay themselves in alternative ways, and 3) won't have as much cash to invest in additional equipment, technology, and vehicles to grow their businesses.

Well seeing as its profits that will be taxed spending money on wages and/or equipment would be a smart short term move. �

They won't have near the profits, if any.  If the payroll tax level is raised, it'll be a HUGE burden on companies.  The owner has also got to take care of his/her personal bills, as well.  Owners won't have the money for "new" and "growth".  

Totally irrelevant. The question was about what plumbers "earn", and it no where near $250k. If you own a company and your employees generate enough income for you to make $250k great, but that isn't the going rate for the trade.

Wow, it was one example, and a potential goal for a guy that wants to buy such a company, that was in the context of what it was for.  Standard plumber clearly doesn't make that much, but the owner of such a company might.

[spartan]

Why is that?  Because the one industry regarding the need for regulation was for two GOVERNMENT sponsored enterprises.  There in lies the problem public sector inspired firms, acting in a private sector was a horrible idea.  Add to it the feel good legislation to sell houses to those who couldn't afford it, and enforce that legislation with the potential of lawsuits to the private sector if they didn't sell loans to those who couldn't afford them in the first place.

Herein lies the current problem. For political reasons, these companies were exempted from the normal regulation and oversight that is normally afforded private companies in their line of business. The end result, due to Govt intervention is a complete mess. I do not profess to be an economist by any stretch of the imagination,  but my take is that these 2 entities are not only the prime movers, but the instigators of all the problems we are experiencing today.

I think ADW is correct to a large extent that Capitalism left unchecked has a tendency to be a runaway bull, but you can't play both ends of the stick at the same time. In this case we have politicians who tried to take advantage of the system, bent the rules of the system then started pointing the finger of blame outwards when the system they created blew up in their faces.

I must admit that it appears a bunch of capitalists took advantage of the situation, but a bunch of others put it in place for political expediency, or ignorance. I'm not sure what is worse knowing who they are.