Comments on: Presidential Candidates And Personal Finance http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/ Getting out of Debt, Getting off the Couch, and Getting into Life Sun, 29 Jan 2012 16:23:20 +0000 hourly 1 http://wordpress.org/?v=3.1 By: The Happy Rock http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/comment-page-1/#comment-6453 The Happy Rock Sat, 18 Oct 2008 14:42:51 +0000 http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/#comment-6453 @Thecpa - Part of the point is that cutting taxes in the short term just creates more debt. Until we elect people into office who are willing to spend less than the government takes in, cutting taxes exacerbates the problem in the short term. I want smaller government and less taxes as much as anyone, but in real life you don't cut your income until you you get your spending under control and change your behavior or else you will end up in worse shape. Republicans love to cut taxes, but the debt also skyrockets because they spend like crazy. The whole point is that we can't settle for either, because they are both bringing us to the same place. @Ed - Obama wants to through money at problems, but isn't that we McCain has done on the major issues? Iraq, cost us how much? How about the bailout? McCain had a great chance to assert great leadership there, but instead he was a weak follower that threw a trillion dollars of debt at the problem and kept his 'veto' in his pocket. Wouldn't it be better to come down strong on the major problems, rather than say you would veto 'pork barrel' spending which is minuscule compared to a trillion dollars? It might have cost him the election. @Thecpa – Part of the point is that cutting taxes in the short term just creates more debt. Until we elect people into office who are willing to spend less than the government takes in, cutting taxes exacerbates the problem in the short term. I want smaller government and less taxes as much as anyone, but in real life you don’t cut your income until you you get your spending under control and change your behavior or else you will end up in worse shape. Republicans love to cut taxes, but the debt also skyrockets because they spend like crazy. The whole point is that we can’t settle for either, because they are both bringing us to the same place.

@Ed – Obama wants to through money at problems, but isn’t that we McCain has done on the major issues? Iraq, cost us how much? How about the bailout? McCain had a great chance to assert great leadership there, but instead he was a weak follower that threw a trillion dollars of debt at the problem and kept his ‘veto’ in his pocket. Wouldn’t it be better to come down strong on the major problems, rather than say you would veto ‘pork barrel’ spending which is minuscule compared to a trillion dollars? It might have cost him the election.

]]> By: The Debt Defier http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/comment-page-1/#comment-6448 The Debt Defier Sat, 18 Oct 2008 01:19:57 +0000 http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/#comment-6448 I don't know about the rest of you, but I'd love to ONLY pay 10% of my budget on interest. Hopefully soon I'll be able to say that. Anyway... The Wikipedia page was interesting. Here are the candidate's pages on this topic: McCain http://www.johnmccain.com/Issues/JobsforAmerica/reform.htm Obama http://www.barackobama.com/issues/fisc I don’t know about the rest of you, but I’d love to ONLY pay 10% of my budget on interest. Hopefully soon I’ll be able to say that.

Anyway…

The Wikipedia page was interesting. Here are the candidate’s pages on this topic:

McCain
http://www.johnmccain.com/Issues/JobsforAmerica/reform.htm

Obama
http://www.barackobama.com/issues/fisc

]]> By: Ed http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/comment-page-1/#comment-6440 Ed Fri, 17 Oct 2008 16:41:23 +0000 http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/#comment-6440 Another thing. As far as financial stewardship of the country is concerned, we just need a prez who is willing to veto spending bills. BO's answer to every problem is spend more. It doesn't matter how much money is in the budget (whether taxes are cut or raised). Congress spends money we don't have, then they borrow to pay for their spending habits and stupid pork projects. What I'm trying to say, is that this problem is bigger than just JM or BO. All of the bums in Washington need to detox from the spending binges. Another thing. As far as financial stewardship of the country is concerned, we just need a prez who is willing to veto spending bills. BO’s answer to every problem is spend more.

It doesn’t matter how much money is in the budget (whether taxes are cut or raised). Congress spends money we don’t have, then they borrow to pay for their spending habits and stupid pork projects.

What I’m trying to say, is that this problem is bigger than just JM or BO. All of the bums in Washington need to detox from the spending binges.

]]> By: Ed http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/comment-page-1/#comment-6439 Ed Fri, 17 Oct 2008 14:04:58 +0000 http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/#comment-6439 The American people need to stand up and demand reform on these earmarks and Lobbist. The earmarks are like pick pocketing the taxpayer. While, JM is not my most ideal candidate, he is much better than BO. The American people need to stand up and demand reform on these earmarks and Lobbist. The earmarks are like pick pocketing the taxpayer. While, JM is not my most ideal candidate, he is much better than BO.

]]> By: Decleor http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/comment-page-1/#comment-6438 Decleor Fri, 17 Oct 2008 10:38:07 +0000 http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/#comment-6438 Being out of touch with the basics seems to be a qualification that all presidential candidates must have - sadly. I think that each should undergo a simple test to find out if they could balance the budget of many low-income households. If they can't do it they should stand down. Being out of touch with the basics seems to be a qualification that all presidential candidates must have – sadly. I think that each should undergo a simple test to find out if they could balance the budget of many low-income households. If they can’t do it they should stand down.

]]> By: Thecpa http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/comment-page-1/#comment-6432 Thecpa Thu, 16 Oct 2008 23:51:26 +0000 http://www.thehappyrock.com/2008/10/16/presidential-candidates-and-personal-finance/#comment-6432 Happy Rock, Well said! Wouldn't it be wonderful if we could amend our constitution to forbid anyone who has held office inside the beltway from being allowed to run for president of this wonderful United States. They go to Washington and end up corrupted and out of touch with the basics that you have so clearly outlined in this post. There should be term limits set for both houses of congress. Career politicians are bad for our country and the citizens. That said, I think you may have lumped the two senators running for president together much too hastily. From what I have gleaned from the debates and information I have read, Senator Obama is definitely going to raise taxes especially on the small businesses and corporations that provide the jobs to our citizens. Senator McCain will not raise taxes on anyone, be it individuals or corporations especially in a recessionary economy. That is a big difference in my book. If an employer has to pay higher taxes it means that the employees are not going to get better pay and benefits. In addition, the goods and services will cost more to the consumers since that cost will have to be passed on. It's a double whammy on the employee/consumer. The United States of America has the highest corporate tax rate in the world. Is it any wonder that the corporations have fled overseas and taken American jobs with them? This election cycle has left me with a bad taste in my mouth. At this point, the thing I'm looking forward to is November 5th. And a pox on both their houses. Happy Rock,

Well said! Wouldn’t it be wonderful if we could amend our constitution to forbid anyone who has held office inside the beltway from being allowed to run for president of this wonderful United States. They go to Washington and end up corrupted and out of touch with the basics that you have so clearly outlined in this post. There should be term limits set for both houses of congress. Career politicians are bad for our country and the citizens.

That said, I think you may have lumped the two senators running for president together much too hastily. From what I have gleaned from the debates and information I have read, Senator Obama is definitely going to raise taxes especially on the small businesses and corporations that provide the jobs to our citizens. Senator McCain will not raise taxes on anyone, be it individuals or corporations especially in a recessionary economy. That is a big difference in my book. If an employer has to pay higher taxes it means that the employees are not going to get better pay and benefits. In addition, the goods and services will cost more to the consumers since that cost will have to be passed on. It’s a double whammy on the employee/consumer. The United States of America has the highest corporate tax rate in the world. Is it any wonder that the corporations have fled overseas and taken American jobs with them?

This election cycle has left me with a bad taste in my mouth. At this point, the thing I’m looking forward to is November 5th. And a pox on both their houses.

]]>