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5 more dollars here to keep Toms ban train going. Were so fawked.

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Obama won, even in our poll. There's nothing you can do about it. Yay.

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Love him or hate him, I think we should all go out and buy every newspaper and save them for generations for this enormously historical election.

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Or burn them. :D haha jk

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I'm scared.
My husband will lose his engineering job thanks to overtaxing of the rich. Since now his boss won't be able to expand let alone pay him..

I don't like the idea that I'll go work at Burger King and make as much as he was making.. And now welfare is going to have a HUGE increase of people.

The job market scares me. If employers get over taxed and can't afford workers, what is going to happen? We're already in a hiring freeze.

There is a huge potential for lack of motivation to go college now. If everyone makes equal salaries, why bother getting a trade?

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My friend who drives truck is as scared as you. His employer makes over $250k. Fuel is already expensive, increase taxes, pay your employees less, and soon enough they won't be able to afford to live.

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I'm nervous to see how the job situation turns out! I can't even find a job right now. If people are losing their jobs, what then?

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Yea, right after I was hired 3 weeks ago, they freezed hiring here, and also are making drastic cost cutting measures. Its scary.. Its all because of the fear of taxes being raised, hurting businesses the most.

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But hey, at least the lazy unemployed losers can still sit and home and watch the big-screens we've all bought for them with our tax dollars! Maybe I'll get a second job so I can support even more of them.

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My roommate works for Ultimate Electronics corporate, but is part of the field team that manages the stores. The corporate office was cut in half last week, 50% of the people there were let go. He was told he's fortunate to still have a job, but after the holidays he's rather uncertain if he'll still be working there.

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My old lady was laid off this Monday due to the dealerships hurting so badly right now. She had been there for 13 years, manager for 8 of them.

Oh well, Obama's going to pay our bills for us

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You guys are the biggest pessimists in the entire world. It seems like you're already blaming Obama for what has been happening over the past 6 months or year or whatever. I think it's going to keep getting worse for another couple years, no matter who is in office.

He is going to be an easy scapegoat for sure, which I think is dumb. He came into office at the worst time, but I'm hoping he can turn things around. Why can't we wait and see before being so negative?

And if any of you is making more than $200k/year salary after deductions, I think you shouldn't be complaining about having another couple percent income tax, that's a lot of money. Also I'm glad capital gains taxes are going up, that's how the rich make their money anyway, not through regular income.

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It's also in the parts per trillion level, and they only tested about 15% of the lakes and extrapolated the numbers from that. Just one more way to pad the government coffer.

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You've obviously didn't own a house more than three years ago as every home owner in the US rode the housing market wave after Clinton forced Fannie and Freddie give everybody a home loan. We all did pretty nicely on that, you wouldn't be so excited about doubling the capital gains tax if you were one of us. And besides that, exactly what do you think the government is going to do for you with that extra money? Show me any government program that is self-sufficient.

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This is true, I didn't get to ride the housing wave, but it's the principle of it in my opinion, I think it should be higher than half what other income is taxed at.

I do have a question though, when do you pay the capital gains on a house? If you buy it for $100k, sell for $300k, then buy another $300k house, do you pay capital gains, or only if you buy a new one cheaper than $300k? I thought the only penalties were on buying a cheaper house than what you sold.

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You pay capital gains at the end of the tax year on anything higher than your regular income if I remember correctly. My mother had to go out and buy a new car in 2001 with what was left over from when she refinanced her home. If she hadn't, she would've been hit with capital gains on what was left.

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Bacon.

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I now have a craving for Triple Rock bar.

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From another forum, thought it was funny. Obama's plan in action:

"Today on my way to lunch I passed a homeless guy with a sign that read "Vote Obama, I need the money." I laughed. Once in the restaurant my server had on a "Obama 08" tie, again I laughed as he had given away his political preference--just imagine the coincidence. When the bill came I decided not to tip the server and explained to him that I was exploring the Obama redistribution of wealth concept. He stood there in disbelief while I told him that I was going to redistribute his tip to someone who I deemed more in need--the homeless guy outside. The server angrily stormed from my sight. I went outside, gave the homeless guy $10 and told him to thank the server inside as I've decided he could use the money more. The homeless guy was grateful. At the end of my rather unscientific redistribution experiment I realized the homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money he did earn even though the actual recipient needed money more. I guess redistribution of wealth is an easier thing to swallow in concept than in practical application."

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I have to agree with slowboy right now. You guys earlier up on this page are blaming a man who isnt even president. If anything you should all be bashing the rock brained idiot who is sitting in the big chair right now. Hes the one who has effed this economy by out sourcing jobs, improper tax cuts, and non govt regulation of the health care system which has rocked employers who want to offer benifits, and has rocked people dependant on medicine. Everyone says trickle down economics is the way to go, the only problem with a trickle is it only takes one stone to stop it and have it pool.

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This is great! People are in for a rude awakening when they see this economic plan actually put into practice!

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I still havent read anywhere yet that says he is litterally taking rich peoples money and giving it to the poor. Hes just making the rich pay more for being rich. and its only a matter of less than 10% increase. I dunno. I wanna find all these websites that claim this stuff, but I guess thats what happens when you search non partisan sites.

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How is that right though? Even if it was a flat percent tax for everyone, the rich would pay more. How is it fair to them that they have to pay a percent increase just because they are successful?

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I'm not a big Bush fan, but can you explain what jobs Bush outsourced, or why outsourcing has effed the economy? If I wanted to start a gig selling ethanol gauges and had the guys in Belgrade making them for me, am I effing the economy? Should the government step in and say I can't do that?

What improper tax cuts were made, and how did they eff the economy? Can you explain how the government removing capital from private businesses and consumers improves an economy?

What non gov regulation in healthcare has rocked employers? How has government regulation made health care cheaper? Do you think it would be cheaper if competition was encouraged instead of restricted?

Have you thought about any of these questions?

The economy is mostly screwed because of the housing market collapse, and Bush had pretty much nothing to do with it. Maybe you should look into who the politicians were that encouraged subprime lending and who was involved at Freddie/Fannie. As a hint you will find a lot of "D"s

I'm not blaming Obama (tho his stint as a lawyer representing ACORN is pretty bad), but you sound like a lot of Bush haters I know that just kind of repeat what they hear

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While I may not agree to taxing certain good wealthy people and businesses, I have to look at alot of the companies and individuals who have cut jobs, pay, and benefits to save money, while not taking pay cuts, themselves, or increasing their salary. And just like everything else in life, a few wreck the many. So this is the sad reality you must face to be wealthy. Just like everyone assumes that since your unemployed your lazy and therefore dont deserve welfare, or just because your a single mom who is on welfare, that you are milking the system, rather then you fell on hard times. Generalization is the price we all must pay.

Ill start searcing merkuz, but a couple quick responses, how is outsourcing good for the economy when you are robbing jobs from americans who need those jobs to live and provide for their familys. Also, health care has shown to milk the system. Especially the pharmacuticals they found out they can raise prices, and still stay in competition and so they do so. I dunno, a couple billion in profit seems like a little too much dont ya think?

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When you are saving lives and allowing people to live longer (or keep children alive that even just a few years ago would have died) then yes, billions in profits is acceptable. They are supplying a great service to this world and deserve to be rewarded for it. If they were not rewarded for it, do you think they'd being doing it?

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My g/f sees day in and day out, the failures of the current government ran health care system. It's sad how the ones that know how to abuse it totally ruin it for the elderly and others who really do need help that don't know how to abuse it. I don't think the government could effectively run an even larger and more involved health care plan when they still need to get a better handle on the current one.

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Its a shame that these medicines can bankrupt someone, or be too expensive to afford, because some CEO wants a 5th house on his private island. But yeah... your right. Let them charge what they want. They are saving rich kids lives.......

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Buy generics then.

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I'm sure all the research and manufaturing processes are cheap and easy for the drug manufactures. Not to mention greasing some wheels to get FDA approval

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Alls Im trying to say is billions of reported profits is insane, and at the expense of sick needy people. And generics fall right back onto that. http://www.medicinenet.com/script/ma...ticlekey=46204

"In fact, the FDA estimates that 50% of generic drug production is by brand-name companies"

So we are letting these companies double dip, and make all this profit at the expense of us? I dunno, I guess not everyone is stuck with a medication for potentially the rest of their life. I dont pay for it now, but when I have to I dont like the idea of making some CEO's 5th house mortgage payment. Its just BS.

Especially when Im looking at shelling $240 a month in just pills. Yeah, privatized health care. Its a miracle in the works.

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When a miracle drug is the only thing keeping you alive tell us again how much you hate them. You should be thanking for for making generics; at least then you know they are high quality. There is no reason these companies shouldn't be allowed to reap the benefits of what they have created; again, if they weren't, they wouldn't do it causing a massive decrease in quality for a lot of our lives!

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Outsourcing of jobs was done with NAFTA (remember when CLINTON passed this through? ) and how can lowering taxes possibly hurt the economy? Lowering taxes means there is more money in the economy, which actually strengthens it. We are a capitalist society, why should goverment control our private party health care system? It doesn't work well in any other country where it is implemented, so why do that here?

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I'm unsure what the article was intending to prove. Companies research and develop products, all kinds of companies (drug company in this case). They spent the time and money to develop this, and get a patent on it. This way they can be the only ones that can legally sell it, help to make back some of the money they spent developing it. Once the patent runs out, if they choose not to renew it, then others start copying it, bringing in competition, lowering the price on it across the board.

I don't see how this is any different then anything else. You get a patent after designing the first ever Tupperware. The patent on it expires, and in comes the competition. Now there's a ton of different tupperware brands on the market. A bunch are made right at the Reynolds plant in Rogers, for all different companies, with different names imprinted on them. How is that any different?

Does Valvoline make both Valvoline oil, and the generic oil for Napa? Does filters made by Wix come in both the Wix boxes, as well as under a generic name?

All these companies are killing us by double dipping?

Generics save consumers money, I don't understand what the complaint is.

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Are you retarded? Here is an island for you:

http://cgi.ebay.com/Island-Bunkhouse...1%7C240%3A1318

I would say move there but you might actually be moving closer to me

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Um... Clinton did not force fannie and freddie to make loans. They don't even make loans. Loans are made by financial institutions and sold to fannie and freddie. The banks and credit unions who granted the loans are to blame. Housing values were increasing so rapidly that they were granting loans to poor credit borrowers with high debt to income. The financial institutions weren't worried as property values were increasing so rapidly that they wouldn't have to worry about losing money if they were to foreclose of on a property. I work as a bank examiner and work with financial institutions who sell loans to fannie and freddie.

BTW, you don't have to pay capital gains taxes on homes used as a primary residence if you live in it 2 years and don't make make more than a $250k profit for an individual or $500k profit for a couple.

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I am sure everyone will make the same salary in a few years now that Obama is going into office...

One of the local TV networks compared the tax policies for the 2 canidates and Obamas tax increase for the wealthy was a only $600 per person making $250k+. Overall, they said McCains policy will put the nation more in debt than Obamas by roughly 40%.

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That is wrong... What is considered regular income? If I get a new higher paying job, do I have to pay capital gains tax? No. The statement about needing to buy a car to ofset capital gains tax is completely wrong also. If you refinance a home, you don't have to pay any taxes. You aren't making any more money. Capital gains tax is used for investments greater than a year. You would only have to pay them on a home if you sold a house that wasn't your primary residence for a profit, if you made money on a home you were living in between 1 and 2 years, or if you made more than 250k (for a single person) or 500k (married couple) on a home you lived in 2 years or greater. Currently, the capital gains rates are much lower than ordinary income rates regardless of what income bracket you are in

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How do you know that the TAXABLE income is over $250k? Did you see their tax return? Lets say for example that you have a business with $300k taxable income (Basic definition: that means revenues-expeneses) they will have 300k in their pocket at the end of the year (assumes no payoff of debt or additional investing). Lets say thier tax rate is 35% (I don't know off the top of my head, I am not at work), they will pay 105k in taxes and make 185k after tax. lets say that they increase the tax rate 10% (unlikely) to 45 %, the person will take home 165k, a difference of 20k. If this person cannot afford to pay their bills after taking home 165k in CASH, they are living above their means.

I do not feel sorry for anyone who is living the high life, making a good amount of money, and SPENDING TOO MUCH.

If these people are worried about their business, maybe they will decide to change their priorities and leave some money in the business instead of spend it. It is ignorant to believe that an increase in the tax rate is going to kill a lot of jobs. IF YOU ARE NOT MAKING MONEY, YOU ARE NOT PAYING TAXES, plain and simple.

I had a client come in for a meeting with me and a partner of the firm who makes 200k and was having cashflow problems. I wanted to slap him. He wanted us to solve his cashflow problem, he would be short 10k in the next couple months. His salary of 18k per month was included in his numbers.

Anyone who makes enough to worry about increased taxes through Obama doesn't get any sympathy from me. If they cant pay the taxes, they shouldn't be living above their means.

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Things like this happen when you are in a recession. Back on the comments about "worried about losing jobs" this is not due to increased taxes. It is the economy which is the problem. Crappy economy = less income = less people affected by increased taxes over 250k.

BTW I voted Obama, Franken, and YES.