Would you like FREE MONEY?
@redyellowblackdog (10629)
United States
August 19, 2008 5:40am CST
Yes, it is true.
The prestigious WALL STREET JOURNAL has done an analysis of Obama's tax plan. It is among other things, a welfare plan in disguise that will give away FREE MONEY! Want FREE MONEY? Vote for Obama!
Read more about it here.
http://online.wsj.com/article/SB121910303529751345.html?mod=googlenews_wsj
I say that just like any other FREE MONEY scheme, this one will be expensive. More expensive than any American will want to pay. There really is not any free lunch.
What do you say?
10 people like this
16 responses
@James72 (26790)
• Australia
19 Aug 08
Hey, I don't even NEED to really study the link provided in too much depth; sign me up! What is important is that I get the money NOW..... I don't care about tomorrow. Gimme, gimme, gimme. We can worry about all the other stuff later. Tommorrow never comes right? Let me get you my address so they know where to at first send my check and then reposses my house and all my belongings later...... One minute.....
4 people like this
@redyellowblackdog (10629)
• United States
19 Aug 08
Actually, you are not too far off the mark. The US DOLLAR is being completely destroyed. This program will hasten the process. Numerous persons will lose their houses and belongings later.
5 people like this
@Destiny007 (5805)
• United States
19 Aug 08
There is no way that this would work.
Look at the problems coming for Social Security... we are about to have more people drawing on it to the point that something has to be done in order to ensure the funds are even there.
Yet this idiot is planning a massive welfare program payed for by the evil rich and the employers.... who probably will leave the country and go to a more tax friendly environment.
We need to LOWER taxes... not RAISE them... and we need to drastically reduce spending. This proposal is going to make the economy worse instead of helping make it better.
There is no free lunch, and if this idiot gets elected there won't be a country much longer either.
What a moron!
3 people like this
@redyellowblackdog (10629)
• United States
19 Aug 08
At least there is one other person here on myLot who understands when I warn that Obama is a lot like Mugabe of Zimbabwee of 30 years ago. Obama's way leads down the path already traveled by Zimbabwee.
2 people like this
@Destiny007 (5805)
• United States
20 Aug 08
If he does then he will justify the suspicion that he is just as liberal as the rest of the communists in the democrat side.
1 person likes this
@SaviourV (260)
• Malaysia
20 Aug 08
Saviour-V teleports in...
Frankly, I don't really know too much about US taxes and Obama's plans, but I do recall faintly that Robert Kiyosaki once predicted that the dollar would decrease, and it still is decreasing, in value as times go by.
This plan does seem kind of fishy, although I can't put my finger on it. Whenever any government starts giving out free money, the best thing is to maintain vigilance.
If it isn't too much to ask, redyellowblackdog, could you put up some calculations of how things are at this moment, VS Obama's plans? I think I might be able to form an opinion from a mathematical perspective if I see it from that angle.
It might be easier if the numbers are put up for analysis.
Saviour-V grins, and teleports out...
3 people like this
@redyellowblackdog (10629)
• United States
20 Aug 08
If I were to undertake this to the degree of accuracy I would want, it would take at least a week just to locate sources and check them. This makes this project too complex for a myLot project.
I do occaisionally make projections of the US DOLLAR and CRUDE OIL on my web site. These are directly related to what is happening in the US economy.
As to whose economic plan is better, it is more appropiate to talk about whose plan does the least harm. Neither Obama or McCain is seriously talking about doing what needs to be done.
Here's the redyellowblackdog economic plan.
1) Balance the federal budget on the backs of US government workers by reducing their pay and benefits to the point some of them start to quit.
2) Put all federal workers under social security while canceling their separate retirement plan and take the money in their retirement plan and put it into social security.
2a) In the case of elected officials, retroactively put them on social security.
3) Remove the protectionism that allows an oligarchy of oil companies to rape the American consumer. Yes, American oil companies do enjoy special privilage that prevents foreign oil companies from competeing fairly in US markets. This is the real reason US companies don't use their tremendous clout to be allowed to drill. US oil companies are making money hand over fist. They like the status quo.
4) Reduce the US troop presence overseas. True, we can not become isolationists, but we need to spend a whole lot less solving other people's problems.
5) Eliminate the US FEDERAL RESERVE.
Just these 5 things would turn the USA around. Hear any candidates talking about any of these?
2 people like this
@redyellowblackdog (10629)
• United States
20 Aug 08
I could do a quickie analysis in less than a day but it would not be able to be defended adequately. When you try to tell people things they don't want to hear, you have to really have your facts straight. This takes quite a bit of time and effort.
2 people like this
@SaviourV (260)
• Malaysia
20 Aug 08
Saviour-V teleports back in for a moment....
Points 4 and 5 strike several chords with my sentiments.
Aside from some people commenting on the presence of the US of A being a sort of "global police force" in my country's coffee-shops, the subject of oil has always been associated with American consumption; the last issue of National Geographic I read a year ago mentioned that it takes 7 drums of oil to produce just one cow for either milk or meat.
A rather sobering fact, in my humble opinion. There's just got to be a much more economical and energy-efficient way to produce the goods and services that our world needs. We can't keep on relying on oil forever.
Saviour-V teleports out again...
2 people like this
@mscott (1923)
• United States
20 Aug 08
People fail to realize what socialism is. I think they are unaware that this is what he is trying to turn America in to. it is easy to give a speech and say what people want to hear, unfortunately that is what many of them will base their vote on. The big change many Americans need is having someone who will tell them the truth, they don't need more pretty packaging only to unwrap the present and find out it is just another pair of crummy socks.
@redyellowblackdog (10629)
• United States
20 Aug 08
My favorite comment on why socialism ultimately fails was made by an old lady who had lived for years on an Israeli kibbutz that was socialist. The kibbutz had converted from socialism to private free enterprise and a reporter asked the old lady who had lived in a socialist system for decades why it did not work out.
She said," Under socialism you have to work very hard to help support people lazier than yourself who you do not even like."
Now, does that not just about sum up several textbooks on the subject?
2 people like this
@redyellowblackdog (10629)
• United States
19 Aug 08
The stimulus checks were a disgrace and President Bush should be ashamed of himself for this idea. Those checks increased the national debt. On this I agree that Bush did a stupid thing.
2 people like this
@N4life (851)
• United States
20 Aug 08
I think Obama may be giving in to these types of gimmicks a bit. I was very proud that he did not go for the gas tax holiday, but...guess he is a politician after all.
@StarChild517 (657)
• United States
20 Aug 08
what kind of question is this pretty much everybody would want free money though I am sure there is a real nasty catch to it all.
3 people like this
@redyellowblackdog (10629)
• United States
20 Aug 08
Rambling is okay at myLot. We are supposed to be speaking our minds and enjoying ourselves. Rambling qualifies on both counts.
1 person likes this
@redyellowblackdog (10629)
• United States
20 Aug 08
Yes, you are right. The catch is that the more money given away, the less it is worth.
A famous 'thought experiment' conducted in economic classes is to ask the students the result of giving everyone in the country $1,000,000. A few students think everyone will be rich. A few students realize the result would only be massive inflation.
2 people like this
@SaviourV (260)
• Malaysia
20 Aug 08
Saviour-V teleports in...
Funny you should mention that, comrade redyellowblackdog. According to our history, when the Japanese invaded Malaysia during the Second World War, they introduced banana money. In other words, as you put it, there was no end to the production of it, which led to massive inflation, and a lot of hungry people.
The word "value" seems to mean different things to many people, but one thing's certain these days: cut up a dollar and throw it to the winds, no one notices; break down a gold bar and toss its pieces to the masses, and many would come scrambling for it.
It seems that our governments have not yet learnt from past lessons. Which is a pity. As of right now, I've been getting the feeling that my own country's about to get into something major, especially with regards to energy recently.
And I'm rambling again...^_^;; Sorry, by the way.
Saviour-V grins sheepishly, and teleports out...
3 people like this
@sreejithsreenivas (10200)
• India
19 Aug 08
I think every one like free money,but it is hard to get it.If any thing is free there will be some hidden agenda behind it.
3 people like this
@redyellowblackdog (10629)
• United States
19 Aug 08
Ah... now if only all American voters were as smart.
2 people like this
@gewcew23 (8007)
• United States
21 Aug 08
There is no such thing as free money. Like everything wealth has to be created, tax credits is just taking from someone who created and giving to someone who did not. What Obama is talking about is not even a tax credit, even though he is using the word. A tax credit is like if I was to over pay on my electric bill, the extra would be applied to next months bill. To some of the people Obama is wanting to give a credit to do not pay taxes. Like you said free money, but the money still has to come from some where. Where is it going to come from, the taxpayers. Under Obama the top 50% will pay more, the bottom 50% will pay less, and get more back from the government. Now Obama I know you like speaking about fairness but how is that fair?
2 people like this
@redyellowblackdog (10629)
• United States
22 Aug 08
The problem is that the top taxpayers are also the smart, ambitious people who start new business and really cause the economy to grow. If those people get punished with too many taxes, they start thinking, "Hey, I've got enough money, why work so hard for the government to take it?". Then not as many new jobs get created. The thing of it is, people like Obama have no clue what it takes to make a country prosperous, only ruin it.
2 people like this
@WhatsHerName (2716)
• United States
20 Aug 08
Well good, if Obama becomes president, I won't have to work anymore. I can just sit around on myLot all day every day and let the government take care of me.
Will I be getting some of those fabulous billion dollar bills?
3 people like this
@redyellowblackdog (10629)
• United States
20 Aug 08
Billion dollar bills? Chump change. How about 100 billion and trillion dollar bills? It would take 10 to 30 years, but yeah, it could happen.
2 people like this
@clrumfelt (5490)
• United States
19 Aug 08
This plan goes way beyond fuzzy math to just plain stinkin' bad math. If implemented this plan would ruin our ecomony. It would drive those who put people to work out of business and keep a large percentage of the population who are presently down and out in welfare situations because there will be considerably less jobs(even moreso than now) to put them to work, and they will be able to get the FREE MONEY without any effort, not to mention destroying people's retirement funds, but, of course when they get old enough to retire they will be able to get FREE MONEY if they don't have anything left.
@clrumfelt (5490)
• United States
19 Aug 08
....and I am thinking of moving to Mexico so I can get a job and then I won't need any of Obama's FREE MONEY. Won't have to pay for any of it, either.
@redyellowblackdog (10629)
• United States
19 Aug 08
If you can give up drinking and going to church, and maybe convert to Islam, working in Saudi is quite lucrative. I think I'll stay here.
2 people like this
@clrumfelt (5490)
• United States
19 Aug 08
I don't like Obama's math, and I also think he has very little chance of winning the presicency. Oh, darn, there goes the FREE MONEY!
2 people like this
@spiderlizard22 (3444)
• United States
19 Aug 08
I would like free money but not in the expense of paying higher taxes.
3 people like this
@redyellowblackdog (10629)
• United States
19 Aug 08
Congratulations. You are too smart or too honest (maybe both) to be an Obama voter.
2 people like this
@N4life (851)
• United States
19 Aug 08
Sign me up also! Wall Street Journal is a conservative paper with an agenda.
@redyellowblackdog (10629)
• United States
19 Aug 08
You are right that everyone wants free money.
2 people like this
@seasons1981 (299)
• United States
20 Aug 08
I am not a very political person but I do know, a lot of what they say when they are trying to win votes goes no where near the white house when they win
@redyellowblackdog (10629)
• United States
20 Aug 08
Yes, that should be taught in all poli sci 101 courses.
2 people like this
@missybal (4490)
• United States
20 Aug 08
I didn't need to read that to know it was a bad idea but boy it really put things into prospective. As I've been saying how one earth was this suppose to help our economy? I'm with you that the stimulation checks were a bad idea that put our nation further into debt, but I took mine and put it toward my existing bills. Not buying a new big screen tv like my friend who complains she never has any money did. I'm sick of supporting the lazy. Right next door to me is two of them living off the system. They come and go at all sorts of odd times of the day and night. This morning the woke me up at 4 am. The one collects disability and they seem to always have packages when they come home and the best of things. They spend their days carefree. And we're going to give these people more and influence more to become just like them? How on earth is anyone going to have a job if you put so much strain on those giving them? Does Obama want us all on welfare. I'm sorry, I actually prefer to work for a living. I've overcome my health problems and do all I can not to get that sort of assistance. Only thing I've ever taken is when I was so sick I couldn't even walk I received emergency medicaid coverage for my medical bills. As it was for that I had to swollow my pride. But why would people work for a living if they work just for others to live off the system. People please think above yourself and have a little self respect. Obama is a man of Ambition who's plans stomp out the ambition of others, intentional or not. Man needs a reason to work towards their dreams and surpass their own expectations, but when would they build their strength when you hand them everything on a silver plater and punish those who have reached their own level of success? In the end we will all be punished because there won't be enough free money to go around.
2 people like this
@redyellowblackdog (10629)
• United States
20 Aug 08
I certainly could not have said this any better. I'm sure you understand, too, how LBJ's war on poverty actually caused more poverty.
1 person likes this
@calcynic (433)
• United States
22 Aug 08
I just got done reading the aforementioned article in the WSJ and I'm going to look for other on point articles in different publications to cross check it with. To be honest, since Murdoch took over the WSJ, I have my doubts about its veracity. I'm not saying it's fallacious, I just need to garner more info. If it stands up to my fact check, I'll be the first to scream bloody murder. I just have some doubts.
1 person likes this
@redyellowblackdog (10629)
• United States
22 Aug 08
You are not alone in wondering about the WSJ since Murdoch. The IBD seems to have replaced them as the business paper deserving of the most respect.
1 person likes this