Comments on: Politics and Finance -bmkriger http://drboycefinance.wordpress.com/2008/11/03/change-just-do-it-its-waaaayy-better-than-fast-food-branding-does-it-again-for-obama-but-whats-this-change-really-mean-bmkiger/ Personal Finance and Money at It's Best Wed, 14 Jan 2009 12:32:39 +0000 http://wordpress.com/ hourly 1 By: bkriger http://drboycefinance.wordpress.com/2008/11/03/change-just-do-it-its-waaaayy-better-than-fast-food-branding-does-it-again-for-obama-but-whats-this-change-really-mean-bmkiger/#comment-530 bkriger Tue, 04 Nov 2008 18:51:32 +0000 http://drboycefinance.wordpress.com/?p=481#comment-530 I agree that more needs to be done to the current state of the economy, however I think my disagreement is in the fact that taxes need to only be reduced on those making less than $200,000.00 a year. In fact, I make less than $200,000.00 a year, but raising tax on corporations who make upwards of that directly effects my personal wealth. Why? Because I am actually part owner of some of those companies. How do I figure? I own stock in a lot of those companies. If those companies are taxed, its going to effect their ability to produce profits, and in turn, it's going to hurt my financial gain from my stock portfolio. And its not just me, many, many Americans, in fact I think it would be safe to say that most Americans with a savings account own either directly or indirectly, stock. So, if I get an extra tax break, but my portfolio loses earnings, then I feel like I am going in a circle. Which would matter, except for the fact that on top of it, these large companies are going to move out of the USA, or employ tricky tactics to get passed the taxes. If you're really interested in this topic, I suggest you read the book "Rich Dad, Poor Dad". The chapter on taxes will teach you a lot. Although we may disagree with each other, I do like how you take an interest in finance similar to the way I do. Bmkriger I agree that more needs to be done to the current state of the economy, however I think my disagreement is in the fact that taxes need to only be reduced on those making less than $200,000.00 a year.

In fact, I make less than $200,000.00 a year, but raising tax on corporations who make upwards of that directly effects my personal wealth. Why?

Because I am actually part owner of some of those companies. How do I figure? I own stock in a lot of those companies. If those companies are taxed, its going to effect their ability to produce profits, and in turn, it’s going to hurt my financial gain from my stock portfolio. And its not just me, many, many Americans, in fact I think it would be safe to say that most Americans with a savings account own either directly or indirectly, stock.

So, if I get an extra tax break, but my portfolio loses earnings, then I feel like I am going in a circle. Which would matter, except for the fact that on top of it, these large companies are going to move out of the USA, or employ tricky tactics to get passed the taxes.

If you’re really interested in this topic, I suggest you read the book “Rich Dad, Poor Dad”. The chapter on taxes will teach you a lot.

Although we may disagree with each other, I do like how you take an interest in finance similar to the way I do.

Bmkriger

]]> By: Jazelle Reed http://drboycefinance.wordpress.com/2008/11/03/change-just-do-it-its-waaaayy-better-than-fast-food-branding-does-it-again-for-obama-but-whats-this-change-really-mean-bmkiger/#comment-527 Jazelle Reed Tue, 04 Nov 2008 15:18:02 +0000 http://drboycefinance.wordpress.com/?p=481#comment-527 However, if these coimpanies have no one to sell their products to because the majority of American poeple can't afford to spend their money on items that are not necessities, they will loose revenue as well. Essentailly, more needs to be done to improve the current state of the economy besides reducing taxes for individuals who make $200,000 or less, however, it is a good start. However, if these coimpanies have no one to sell their products to because the majority of American poeple can’t afford to spend their money on items that are not necessities, they will loose revenue as well. Essentailly, more needs to be done to improve the current state of the economy besides reducing taxes for individuals who make $200,000 or less, however, it is a good start.

]]> By: brandenelmendorf http://drboycefinance.wordpress.com/2008/11/03/change-just-do-it-its-waaaayy-better-than-fast-food-branding-does-it-again-for-obama-but-whats-this-change-really-mean-bmkiger/#comment-515 brandenelmendorf Mon, 03 Nov 2008 17:15:52 +0000 http://drboycefinance.wordpress.com/?p=481#comment-515 I agree that tax breaks in general aren't very effective, no matter which class receives them, but credit and spending is the american way so changing our society into a saving society will take extensive reworking of the american economy. Saving will make people feel more wealthy because they actually will be wealthier, but changing the general view of the US consumers to a savings mentality would be like turning an oil tanker, its possible but not quick or easy. I agree that tax breaks in general aren’t very effective, no matter which class receives them, but credit and spending is the american way so changing our society into a saving society will take extensive reworking of the american economy. Saving will make people feel more wealthy because they actually will be wealthier, but changing the general view of the US consumers to a savings mentality would be like turning an oil tanker, its possible but not quick or easy.

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