looks like we will soon have 12 to 30,000,000 brand new American "brothers"..

[gypsyman]

Unfortunatly, nobody is paying attention, of what is going on in other country's, that went the liberal way years ago. South Africa,Greece, many European country's. Many people in this country are going to be in a big surprise in the not to distant future. But, it's not going to be a good one. As a few here have already stated, O getting elected, will just hurry up the downward spiral. gypsyman

[Redhawk1]

I always felt that if the Dow hit 10k by 2012, BO would get a second term. It is there. He has to keep it there. If you recall 2008, no one thought this woud be possible. In fact there was a lot of gloom and doom about the next lower support level being 3k. If we are at 3k in 2012, BO is toast. 2 years is LONG time. Could happen. I hope for all our sakes, that the Dow is more like 12K, and unemployment improves by then. Seems to be moving that way. Then all BO has to do is pass a couple of tax breaks (short term) and he will have a lock.

On a side note, BO appears to be the anti Communist. Just ask the 11 Russkies that Dubya did nothing about.

What!!!! The Dow is not a good indicator on how the economy is doing. Unemployment is still at 9.7% and people are still losing jobs everyday. That 9.7 % does not include the people that stopped looking or have run out of unemployment benefits. Take off your rose colored glasses there.

I know a lot of people that have lost there homes, cars and jobs. I have lost 50% of my business. I am hanging on by a thread, and you think this economy is on the up swing?

The only way BO is going to get reelected is, if the same STUPID voters vote for him again. Now that could happen, there are a bunch of people out there that still think BO has Americas best interest at heart. They are delusional and stupid with Obama love. The majority of the black voters vote for him because his skin is black like theirs, and they want the free handout. I know, I talk to these people all the time. The liberal progressives will vote for him as well as the Zombie Kool Aid drinkers.

Hopefully there are some people that will see through all the Hype & Chains of the Telaprompter king.

[wreckhog]

I don't . I think they hold all the power and have done nothing to put people to work . The have however placed a larger burden on those working which cuts their buying power . In fact they have made it harder for people to go back to wotk.

I have seen the opposite. I know a lot of small business people that have gotten extremely busy with work since the start of the year. It is all anecdotal, local stuff, but as example a friend can't come to my BBQ this weekend because he has to work (decorative plaster and paint) all weekend. I have another friend who bought 2 apartments and is having them combined into 1. She wants to done by Labor Day and has roughly 15 people working full time+ this summer to accomplish it.

Some small businesses are dying. That can be attributed in some part to change. I used to focus on print advertising. Ummm, guess what, people don't buy print anymore. They read their news online. Print advertising sucks. On the other hand, my wife works in academics. She has projects that are privately (no govt teat) funded through 2018.

[Redhawk1]

I don't . I think they hold all the power and have done nothing to put people to work . The have however placed a larger burden on those working which cuts their buying power . In fact they have made it harder for people to go back to wotk.

I have seen the opposite. I know a lot of small business people that have gotten extremely busy with work since the start of the year. It is all anecdotal, local stuff, but as example a friend can't come to my BBQ this weekend because he has to work (decorative plaster and paint) all weekend. I have another friend who bought 2 apartments and is having them combined into 1. She wants to done by Labor Day and has roughly 15 people working full time+ this summer to accomplish it.

Come to Delaware, see all the small businesses that have closed there doors. My step fathers's business in Arizona is closed, he lost all his big contracts due to larger businesses closing down.

Keep thinking everything is OK.

[wreckhog]

My numbers this year are the best ever. But I have had to do things that will cost me down the line. Basically, I had to work 2x as hard to meet numbers from 2 years ago, and 3x as hard to exceed them. The problem is that the client expectations have been raised (they expect more for their money), which means ultimately that I am working harder for less money per hour. Just doing more hours.

My relative had literally nothing to do in the last 2 years. She and her boss built a retainer/consulting practice in that time. Similar deal, LOT of work, far less money than they were used to. Her traditional business has turned on. Went from zero to 40-50 hours a week on that. She won't get paid for it for months or years. But the pipeline is flowing. Biggest problem? How to drop the 20-30 hours a week consulting, which is far less lucrative, but which does provide a recurring revenue stream every month.

[Dixie Dude]

Big business is not hiring, because they are unsure of the economy.  Money has dried up, banks are not loaning, we will see a double dip in October or after Christmas.  Reagan cut taxes to businesses who hired full time workers in the 80's.  I remember, I was there.  My company hired about 3 new people in my location alone.  One to help me.  We grew and growth was good until the fall of 2008.  We need to go back and look and see what he did.  He was also positive, never negative.  Obama and Biden says we will not have new jobs created in the forseeable near future.  So much for hope and change.

[SHOOTALL]

I don't . I think they hold all the power and have done nothing to put people to work . The have however placed a larger burden on those working which cuts their buying power . In fact they have made it harder for people to go back to wotk.

I have seen the opposite. I know a lot of small business people that have gotten extremely busy with work since the start of the year. It is all anecdotal, local stuff, but as example a friend can't come to my BBQ this weekend because he has to work (decorative plaster and paint) all weekend. I have another friend who bought 2 apartments and is having them combined into 1. She wants to done by Labor Day and has roughly 15 people working full time+ this summer to accomplish it.

Come to Delaware, see all the small businesses that have closed there doors. My step fathers's business in Arizona is closed, he lost all his big contracts due to larger businesses closing down.

Keep thinking everything is OK.

I am a small business person , our work force went from 137 to 28 and most of our competition is in worst shape . Keep thinking thing are good .

[wreckhog]

I can think of 2 friends with small businesses that have suffered.

1) He runs data cabling for small businesses. Charge $300 for a run. Spend maybe 15 minutes to an hour doing it. The trick is when you wire the office initially, you run extra. So when they want to add a desk, you just move an existing spare run over a couple feet. Ummm, the world went to wireless. Times are hard. I suppose that he will do something totally different next year.

2) Another friend started throwing parties. I NEVER imagined that you could make so much money so many different ways throwing parties. He targeted 20something single ladies, 1000-3000 at a shot, so it was just win, win, win for him. He made money selling tickets, providing ATMs, got a kickback from the venue, from the bar, from tip money, from the sponsors, etc. It got where he was doing 25-30 parties a year. He gave up a very good job to do this. Had a gimmick, which was copied by a lot of people, killing his business. So now he went back to his day job, got engaged and does 3 or 4 parties a year.

[ironglow]

  Most businesses here are hurting, much unemployment. Those which are strictly auto or other repair may do OK, since people are not buying near as much new hard goods and repairing the old. Four friends who are tool & die makers laid off from the same major company a year ago..nothing yet, even though they are willing to work at little over minimum wage.

[gypsyman]

Heard the business report on the radio today for some business's here in the Toledo area. Several company's are working full time employee's lots of OT, because they don't want to hire any new employee's. Not sure of how long the extra business will last, and no incentive to hire anybody new. And, I'm sure that is very common everywhere, not just here in this area. gypsyman

[wreckhog]

Have they never heard of hiring temps?

[billy_56081]

Often it is much much cheaper to pay time and a half overtime than to hire more employees. Anyone that has either a little common sence or is in buisiness knows the pay is only part of the employee cost. All the employees benefits, workers comp, and liability insurance is paid with standard time. OT is often a bargain for the employer.

[ironglow]

  In the people's republik of NY..they have something called "motor voter"..register when they get their driver's license.

[SHOOTALL]

Have they never heard of hiring temps?

We tried that and found that none were worth having IE; if they were any good they had a job. Temps in construction in our area are worthless and you pay as much or more for them . If there is any savings at all it is in unemployee insurance if you keep them longer than 30 days .

[wreckhog]

 In the people's republik of NY..they have something called "motor voter"..register when they get their driver's license.

You can drop off your form at motor vehicles or you can check a box. Keep in mind that to get a drivers license these days, you need to show 6 points of id. Which is generally more than most people carry normally. And reasonably hard to beat. It is not instant. Something gets verified, and about a month later, your reg card shows up at the address you gave along with endless junk mail from local political machine. We want money, we want your vote, we want your time, etc.

[ironglow]

  i wish the promotion of voting registry were pushed here when getting a hunting license or concealed carry permit..but don't hold your breath expecting our "blue state" legislature to pass that one.

[Dixie Dude]

The economy will probably tank again.  Numbers out recently don't look good.  More taxes mean less private jobs.  My area is ok, but not great.  Home building is way down.  That hurts framers, electricians, plumbers, masonry workers, landscapers, roofers, cabinet builders.  All in these areas are hurting.  Banks aren't making loans like they used to for anything.  We are in a "maintain" mode, not a growth mode.  Recent reports indicate about 20% of adult males between 25-65 do not have a full time job.  This is the highest it has been since the Great Depression.  Don't know what you do wreckhog, but numbers aren't there.  There are ways to improve the economy.

1) Cutting taxes to business and people will giving them money to expand and hire.
2) Pressure China to float their money so as to shrink our trade deficit with them.
3) Use domestic energy like natural gas in vehicles instead of importing oil.  Tax breaks for companies that install natural gas for their fleet vehicles. 
4)  Drastically cut the Federal budget, like no foreign aid.  Scale back the welfare department. Scrap the national health care plan. Cut money for the arts. Cut money for public television. Put congress on same health care as the rest of the country. Cut money going to cities and states except for highways.  Sell Amtrack, sell TVA, sell any government run business.  Sell unneeded government property.     
 

[lrs]

I think it is inevitable amnesty is going to be granted to the illegal aliens.
That will give the democratic party about 30 million new voters.
Without that, the democrats are gonna get buried in November.
It will ensure the democratic party will have a clear majority in all 3 branches of government.
Republicans have not been all that great lately, but the democratic party has gone insane.
I don't see how we as a nation will ever recover.
I see this as the single greatest threat to our country there has ever been.

[S.S.]

ACORN will get them all registered and show them how to bypass laws
for Obama. Anyone who thinks it is getting better economically is blind
or an Obama lover. Hell, it appears to be getting worse!

[nomosendero]

ACORN will get them all registered and show them how to bypass laws
for Obama. Anyone who thinks it is getting better economically is blind
or an Obama lover. Hell, it appears to be getting worse!

Yea, I have been reading this getting better stuff with great humor. My customer base is mainly industry, but also agri & small business. You are right, you can't look at the situation logically & think it's getting better, I wish it was.

[teamnelson]

The word "surprise" was used when first time applications for jobless benefits jumped by 30k last week. Same when home sales dropped 30% compared to last year. Just wait until the census is done and all those 400k folks are unemployed. Predictions are for inflation to climb by summers end. Yep, things are looking better ... Most feel good predictions are in the microview, but macro trends aren't looking good.

Also heard a large percentage of the wealthiest people in the US aren't Americans; the more we attack the wealthy, the more likely they are to pack their bags because they can.

In the midst of all that they want amnesty and citizenship for illegals? Where is the money tree this is all getting funded from?

[Dixie Dude]

Things are really going to get bad next year.  The whole tax rate structure will go up in January which will affect everyone.  Capital gains tax will increase for those who make money off the stock market or sale of property from 15% to 20% on the low end. This will cause a double dip in recession.  Look for unemployment to be 15%.  We will then be in a depression.  Pay off stuff as soon as possible.  Get out of debt.  Cities and states will go bankrupt especially the most liberal.

[ironglow]

Things are really going to get bad next year.  The whole tax rate structure will go up in January which will affect everyone.  Capital gains tax will increase for those who make money off the stock market or sale of property from 15% to 20% on the low end. This will cause a double dip in recession.  Look for unemployment to be 15%.  We will then be in a depression.  Pay off stuff as soon as possible.  Get out of debt.  Cities and states will go bankrupt especially the most liberal.

     So obviously, when all these new taxes hit...businesses which are only hanging on by the tips of their fingers, will be crushed.

[wreckhog]

Capital gains taxes tend to be paid by those that are not hanging on by their fingertips. It is a tax dodge for hedge fund managers for the most part.

Personally, I am looking at switching the way that I am paid from W2 to 1099 next year. Will let the accountant decide, as taxes are just too crazy for me to really get a handle on.

[Dixie Dude]

Wreckhog, hate to differ with you, but my wife buys and sells stock and has made a decent living.  If she earns $50,000 a year in stock trades, she pays 15% capital gains tax on her earnings or $7,500.  She manages her own retirement accounts as well.  Even if she only made $10,000 in stock trades, she has to pay $1,500 in Capital gains tax.  If it goes up, she said it would be better for her to go to work at a regular job.  Sorry, but there are a LOT of day traders out there using software like Ameritrade to make money off the stock market.  Historically you could make 12% a year going back to 1900, even factoring in the depression.  If she made more than a certain amount she would jump from 15% to 25%.  Now the rates in January are going to jump to 20% and 35%.  Also, if you own a family farm and it is worth over a certain amount and you die.  Your heirs will have to pay capital gains tax on it from what was originally paid vs what it is worth now.  That is why a lot of family farms and family business goes under upon the death of the owner.  It is better to sell your farm or business or even your home to your heirs for $10 or so, a few years before your death so they avoid capital gains taxes. 

[wreckhog]

I think that you are backing my claim. Day traders are gambling legally with money they can afford to lose. Do most day traders even hold stock long enough for capital gains to matter? Anyway, you can beat it. Put the money in a Roth and trade that. Obviously, you only worry about taxes if you are making money. If you are losing money, then you have other priorities. And if you are losing more than you can put in a Roth, then you are in a different league altogether.

http://www.bankrate.com/brm/itax/tax_adviser/20050609a1.asp

People inheiriting property and figuring the most advantageous way to manage the tax implications usually ain't between a rock and a hard place IMHO. Of course there will be exceptions. But that is what they are.

[Dixie Dude]

No matter if you made a trade daily or if you keep it for months, capital gains is capital gains.  You have to pay at the end of the year.  It is more than gambling.  You buy into a good upstart company and the stock climbs.  Sometimes slowly, sometimes it takes months or years to see a good enough profit to sell.  I said she was a "day trader", but she isn't really.  A day trader buys a stock at say at the opening bell, then if it goes up during the day, sells it.  SEC rules say you cannot buy a day traded stock back for I think 30 days.  If you buy it one day and sell it a few days later, it isn't "day trading".  Don't know all the rules, but you have limits.  Sometimes she will buy a small amount of a stock, but for some reason it drops, she sometimes adds to it more stock at the lower price.  Then when you sell it all, you are given the average price.  She does her research, like how much debt does a company have.  Are they coming out with new products.  You have Tech stocks like Apple, Microsoft who are listed on the Nasdaq exchange.  Traditional stocks are listed on the Dow, etc.  Anyway, whatever profit she makes, she pays Capital Gains stock.  Capital gains tax increases will affect EVERYONE who has a 401(k) and most, if not all of the retirement funds.  This is going to be devistating with tax increases coming up.  Big companies are not going to hire if they have more taxes to pay.  Obama has said high unemployment is long term.  If Alcola, or Ford, or Microsoft can't afford to pay for new employees, they are going overseas even faster.  We are taxing and spending ourselves out of a nation.  We already have the highest corporate income taxes in the industrial world (China has no corporate income tax).  Now high Capital Gains, which will affect the value of every stockholding company in the US which is basically all corporations, big and small listed on the stock exchanges.  The middle class will suffer the most.  Super rich move their money offshore.  Most stocks are in retirement funds for middleclass people. 

[wreckhog]

Capital gains taxes tend to be paid by those that are not hanging on by their fingertips. It is a tax dodge for hedge fund managers for the most part.

Private-equity fund managers earn much of their compensation by taking a cut of clients' earnings. It is pay for work, but critics of the arrangement note that it is taxed as capital gains, at 15 percent instead of the 35 percent income tax rate that they would otherwise pay... Viva Hammer, who recently left the Treasury Department's Office of Tax Policy ... said that about half of all private-equity compensation is taxed that way. About 20 percent of hedge fund compensation also is taxed at 15 percent, a rate lower than the one most secretaries pay.

[nomosendero]

For all you Progressives out there who think the "Progressive" tax rate is not progressive enough. The Bush cuts end at the end of this year with little chance of the Socialist Demoncraps being concerned, even though this will be a serious hike for those that Obummer swore to protect. And concerning Capital gains, not to worry!! It will be changed drastically & we can all get excited together. Boy, everybody will prosper then!! 

Let's have this little talk again in about a year & let's see how we will fare with this. 

[ironglow]

  The pitifully simple and most productive way of solving the tax dilemma is to simply institute a flat tax rate across the board. People would know where they stand, allow for the flat rate..then go ahead and prosper. More taxes would be generated for the govt by unleashing the inventiveness and productivity of American business, and we would all be better off.
   The only "fly in the ointment" is that the "progressives"..or Communists (pick your adjective) who presently run things, harbor a natural antipathy against anybody who works hard for a living.
   ..I guess that's simply because they don't !      ....and never did..