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Thursday, June 26, 2008

Listen to the real message…

If one listens carefully to the plans that Barack Obama has for our country if he becomes president, everyone should be very concerned and even a little afraid for what lies ahead. Besides the usual liberal mantra of repealing any and all tax cuts enacted in the past 100 years like the death tax, inheritance tax and the alternative minimum tax, he proposes to double the tax on income earned from stocks held. Think long and hard about this one, if you hold stocks now and cash them in for a gain prior to an Obama inauguration, you would pay a 15% tax on those earnings. Now wait until after an Obama inauguration and the subsequent doubling of this tax and you will have to pay 30% on those particular earnings. Envision what might happen to the stock market if in fact Mr. Obama succeeds in winning the presidential election in November. What will many investors do with their portfolios in order to head off this increase? The possible scenario is quite scary, investors might just sell off stocks and pay the 15% while they can and tuck that money off shore, the results may be a dark day for the stock market and the U.S. economy. While I hate to be a pessimist and am certainly not a doom and gloom kind of guy, I can see this scenario playing out this fall. Between the proposed universal health care for all including illegal aliens, to the raising of any and all taxes that he can get his hands on, this great country of ours cannot afford a liberal with the kind of ideas this man is proposing at this time in history or any other time for that matter. I can understand the appeal of this ‘newcomer’ and the ‘change’ message that has become his primary message, but everyone needs to understand the intent of this individual as an ultra liberal… a socialist minded individual with real life leanings toward marching our country into Marxism.

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