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2013-10-14 11:05 PM
in reply to: jeffnboise

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Subject: RE: Federal debt rose 57% under Obama to date

Originally posted by jeffnboise

I like this thread.  It's thoughtful without name calling.

That's all I got.  Carry On........

Ya, but who's winning?



2013-10-21 12:18 PM
in reply to: powerman

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Subject: RE: Federal debt rose 57% under Obama to date
This guy nails it......

One of the great ironies of the Obama presidency is that it has been a disaster for the young people who form the core of his political coalition. High unemployment is paired with exploding debt that they will have to finance whenever they eventually find jobs.

Are the kids finally figuring out that the Obama economy is a lousy deal for them? "No, I don't sense that," says Mr. Druckenmiller, who is a registered independent. "But one of my points is neither party should own your vote. And once they know they own your vote, you're not going to get any action on this particular issue."

When the former money manager visited Stanford University, the audience included older folks as well as students. Some of the oldsters questioned why many of his dire forecasts assume that federal tax collections will stay at their traditional 18.5% of GDP. They asked why taxes should not rise to fulfill the promises already made.

Mr. Druckenmiller's response: "Oh, so you've paid 18.5% for your 40 years and now you want the next generation of workers to pay 30% to finance your largess?" He added that if 18.5% was "so immoral, why don't you give back some of your ill-gotten gains of the last 40 years?"

http://online.wsj.com/news/articles/SB10001424052702303680404579141...

2013-10-21 12:35 PM
in reply to: Jackemy1

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Subject: RE: Federal debt rose 57% under Obama to date

Originally posted by Jackemy1 This guy nails it...... One of the great ironies of the Obama presidency is that it has been a disaster for the young people who form the core of his political coalition. High unemployment is paired with exploding debt that they will have to finance whenever they eventually find jobs. Are the kids finally figuring out that the Obama economy is a lousy deal for them? "No, I don't sense that," says Mr. Druckenmiller, who is a registered independent. "But one of my points is neither party should own your vote. And once they know they own your vote, you're not going to get any action on this particular issue." When the former money manager visited Stanford University, the audience included older folks as well as students. Some of the oldsters questioned why many of his dire forecasts assume that federal tax collections will stay at their traditional 18.5% of GDP. They asked why taxes should not rise to fulfill the promises already made. Mr. Druckenmiller's response: "Oh, so you've paid 18.5% for your 40 years and now you want the next generation of workers to pay 30% to finance your largess?" He added that if 18.5% was "so immoral, why don't you give back some of your ill-gotten gains of the last 40 years?" http://online.wsj.com/news/articles/SB10001424052702303680404579141...

Good read and I like his point of view on capital gains taxes.  I've generally been in the camp of reducing/eliminating capital gains taxes, but he makes a very compelling argument about which generation is paying those capital gains.

2013-10-21 1:05 PM
in reply to: tuwood

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Subject: RE: Federal debt rose 57% under Obama to date
Originally posted by tuwood

Originally posted by Jackemy1 This guy nails it...... One of the great ironies of the Obama presidency is that it has been a disaster for the young people who form the core of his political coalition. High unemployment is paired with exploding debt that they will have to finance whenever they eventually find jobs. Are the kids finally figuring out that the Obama economy is a lousy deal for them? "No, I don't sense that," says Mr. Druckenmiller, who is a registered independent. "But one of my points is neither party should own your vote. And once they know they own your vote, you're not going to get any action on this particular issue." When the former money manager visited Stanford University, the audience included older folks as well as students. Some of the oldsters questioned why many of his dire forecasts assume that federal tax collections will stay at their traditional 18.5% of GDP. They asked why taxes should not rise to fulfill the promises already made. Mr. Druckenmiller's response: "Oh, so you've paid 18.5% for your 40 years and now you want the next generation of workers to pay 30% to finance your largess?" He added that if 18.5% was "so immoral, why don't you give back some of your ill-gotten gains of the last 40 years?" http://online.wsj.com/news/articles/SB10001424052702303680404579141...

Good read and I like his point of view on capital gains taxes.  I've generally been in the camp of reducing/eliminating capital gains taxes, but he makes a very compelling argument about which generation is paying those capital gains.




Yeah, I agree. His argument to treat long-term capital gains as ordinary income and eliminating corporate tax is very compelling.
2013-10-21 1:28 PM
in reply to: Jackemy1

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Subject: RE: Federal debt rose 57% under Obama to date
Originally posted by Jackemy1

Originally posted by tuwood

Originally posted by Jackemy1 This guy nails it...... One of the great ironies of the Obama presidency is that it has been a disaster for the young people who form the core of his political coalition. High unemployment is paired with exploding debt that they will have to finance whenever they eventually find jobs. Are the kids finally figuring out that the Obama economy is a lousy deal for them? "No, I don't sense that," says Mr. Druckenmiller, who is a registered independent. "But one of my points is neither party should own your vote. And once they know they own your vote, you're not going to get any action on this particular issue." When the former money manager visited Stanford University, the audience included older folks as well as students. Some of the oldsters questioned why many of his dire forecasts assume that federal tax collections will stay at their traditional 18.5% of GDP. They asked why taxes should not rise to fulfill the promises already made. Mr. Druckenmiller's response: "Oh, so you've paid 18.5% for your 40 years and now you want the next generation of workers to pay 30% to finance your largess?" He added that if 18.5% was "so immoral, why don't you give back some of your ill-gotten gains of the last 40 years?" http://online.wsj.com/news/articles/SB10001424052702303680404579141...

Good read and I like his point of view on capital gains taxes.  I've generally been in the camp of reducing/eliminating capital gains taxes, but he makes a very compelling argument about which generation is paying those capital gains.




Yeah, I agree. His argument to treat long-term capital gains as ordinary income and eliminating corporate tax is very compelling.


With 17+ trillion in debt, the politicians are more concerned about how to grab your retirement than reducing your taxes.
2013-10-21 3:07 PM
in reply to: Jackemy1

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Subject: RE: Federal debt rose 57% under Obama to date
Originally posted by Jackemy1

"But one of my points is neither party should own your vote. And once they know they own your vote, you're not going to get any action on this particular issue."



This. So simple.




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