Friday, October 10, 2008

Big T's Pic of the Day

That is looking better than a lot of peoples portfolios right now... I have lost approximately 35% of my net worth since Sept 18! No it is not 6 figure losses, but I am definately seeing 5 figure losses right now.

Oh well, at least I am not going to have to pay any capital gains taxes this coming tax season.

See there is always a bright side!

It’s All Over “My Friends”

I hope you are all ready for Barack Obama! Are you people prepared to have a socialist president? An even bigger government that will have more control in how you live your life, your healthcare, your retirement, your savings and investments, taxes and your children’s education.

Unfortunately, a lot of Americans see nothing wrong with this and are perfectly fine with it. They believe this country is great because of government, and government is the answer to all their problems. They are sending Barack Obama to the White House to solve all our problems. I am convinced it is all over. John McCain has lost. It is all over ‘my friends.”

John McCain did not do what he had to do in the debate Tuesday night. The fact of the matter is both candidates where off on Tuesday making it one of the most boring debates I have ever seen.

I think most people have made up their minds by now and there aren’t going to be to many viewers watching the upcoming last debate. It will mainly be political junkies like myself that tune in. This was it. This was McCain’s last chance to seize the moment, and he just didn’t do it.

It was not the debate alone that cost him the election. I truly feel the pivotal point where McCain blew the election was the way he handled the whole economic bailout crisis and then voting for the bailout. Where was the maverick, and how about some leadership to stand up against the Washington insiders and say this bill in no good? Instead McCain just goes with the flow.

And let’s face it, his campaign has been swirling down the toilet ever since.

McCain has lost this election because he was unable to convince enough people he wants less government in their lives (the conservative base) and he couldn’t convince enough people he wants more government in their life (socialist republicrats, or RINOs).

Then again this may be good news for all you McCainiacs. I was also convinced Hilary Clinton was going to win the Democratic primary.

Oh and John, loose the “My friends” phrase. I swear if I hear you say it one more time I am going to loose my lunch!

Fact: Obama cannot give a tax cut to 95% of working families in America.

For reasons unknown to me, the McCain campaign just doesn’t seem willing to throw any real punches at Obama. One of many areas they should be attacking Obama on is his ridiculous claim to cut taxes for 95% of Americans.

I have been over this before, but lets go over it again. The most important thing to remember when Obama starts talking about tax cuts is 47% of Americans have no tax burden. In order to give them a so-called “tax cut” the government would have to literally write them a check.

That is not a tax cut; it is income re-distribution. In order to cut taxes you have to cut them on people who actually pay them, but that would be the top 53%. This would include tax cuts for the evil rich, which doesn’t work in Obama’s rhetoric.

Then again, it wouldn’t matter if McCain pointed this out. Most Americans can’t comprehend such matters.

Enjoy your checks folks. It may be the last one you get for a while after Obama taxes your employer and your job is cut to make up the difference!

Where Does All The Money Congress is Spending Come From?

Nancy Pelosi says if the economy continues to plummet she may call Congress back for a special session after the election to pass a 150 billion dollar economical stimulus plan… Yeah, cause the first one worked so well.

Of course this plan will be more of a wealth redistribution plan than an economic stimulus since most Americans who pay most of the taxes won’t be allowed to participate in the plan. Taking from those who have earned it and giving it to those who have not. After all as Barack Obama and Joe Biden has said taxes is not about revenues to the government; it is about fairness. Oh ... what fun we're going to have over the next four years.

Has anyone thought about asking where all this money is coming from? It’s not like Congress has 700 billion for a bailout, or a 150 billion-stimulus package sitting in a checking account somewhere. So where does it come from?

Yes, it comes from the taxpayer at the end, but they need that money now. So it is borrowed folks. It is borrowed from places like China, Germany and other foreign countries. This increases the national debt and makes the dollar even weaker.

This is why it cost 10.00 for a cup of coffee in France or 5.00 for a 20oz. Coke in Germany. Hold on to your wallets cause it is only going to get worse.

Big T's News and Views from Around the Web

Wow, actual intelligent conversation on Obama’s tax plan on CNBC! I can’t believe it…

What do you think of this? Is James Carville actually suggesting we will have race riots if Barack Obama does not win in November? You can take a look for yourself and decide.

Like me John Stossel is not happy with the bailout. He says anytime a large majority of politicians speak in favor of intervention it makes him cringe. Stossel says we should try something called the free enterprise…Amen! Great Reading.

Why is he so ashamed of his past? Obama is now denying his ties to ACORN. Of course the media gives him a pass on the issue. Stanley Kurtz did some homework and found this.

Barack Obama lied about his relationship with Bill Ayers, and this report comes from CNN’s Anderson Cooper, not Fox News.

Bloopers from the campaign trail…introducing the “next vice president of the United States John McCain!” Oooops…he meant Joe Biden.

Are you looking for a reason to get high or drunk? You could always blame it on the economical crisis.

Now to the issues that really matter, according to an ancestry website Sarah Palin is related to Princess Diana and former President Franklin D. Roosevelt.

Animal rights activist like PETA are definitely not going to be happy with Brett Farve’s locker room pranks. Apparently he shot an animal, stuffed its guts in a bag and put it in a teammates locker.

Looking for some assets to invest in? So is Hugh Hefner. Playboy magazine is in search of the “Women of Wall Street.” Now that is economic relief!