Economy back on the rise due to Obama?

January 8th, 2009
  • Thanks to Obama the stock market is up significantly from yesterday. Good thing walstreet took Obama's advice.


  • This is scary that you could believe that. You are enthralled and don't even know it.

    You do not have a radio/tv but do have a computer so your ignorance is unexcusable. The reason the stock market is up is because of the 'deal' Pres Bush made with all the foreign nations. Don't be silly and waste time with questions like this.


  • No, quite the contrary and Obama's economic plan will only affect it in the negative.
    The following is copied from a weblink:

    "How the Obama Tax Plan Compares to Other Countries
    Senator Obama's new tax rate would give the United States one of the highest tax rates among developed countries. Currently only six of the top 30 industrial nations have a tax rate for all levels of government combined of over 55 percent. Under this tax plan, the United States would join this group and have a higher top rate than such high-tax nations as Sweden and Denmark. The top marginal rate would exceed 60 percent with the inclusion of state and local taxes, which means that only Hungary would exceed Senator Obama's new proposed top tax rate.
    The costs in economic terms of such high taxes are real. For example, of the six countries with higher tax rates than 55 percent, the average unemployment rate is 7.35 percent (see chart). This figure includes Denmark, which appears to have a very low unemployment rate of 3.9 percent. However, Denmark spends over 5 percent of its GDP on unemployment programs and benefits, thereby increasing its unemployment rate.[1]
    A Return to the Bad Old Days
    Historically, Senator Obama's tax rate would be the highest individual tax rate since the Jimmy Carter days. Tax shelters and tax avoidance strategies were common when the top marginal rate was 70 percent or higher. This new top tax rate will again encourage these gimmicks, reducing investment and economic growth as resources are squandered in an attempt to avoid punitive taxation.
    Many individuals will attempt to transfer their compensation from wages to capital gains, since capital gains would only be taxed at 25 percent, or less than half of the top rate on wages. This would put a great deal of pressure on a company to do anything it could to make its stock quickly increase in value. Other individuals would try to incorporate so they could pay business taxes instead of having to pay taxes on their wages. Again, these resources would be diverted away from more productive uses and slow the economy."

    People who think that Obama's economic policies will fix the economy are the same people who go to sleep at night hoping that The Tooth Fairy will put a paid in full mortgage under their pillow.


  • walstreet...is that where Walmart is? Since when does Wall Street take advice from Obama. They hate him. But it's humorous that you find Obama deserves the kudos. Thanks for the laugh.


  • How do you attribute this to Obama?


  • And that advice was...?


  • If anybody believes that, then I have some ocean front property for sale in Missouri.



  • yesss obama is the best, gas prices are already dropping becuase hes about to take office, its like 2.79 where i live!


  • Crap! Obama hasn't given anyone on wall street any advice and you should know better than to even imply such BS.


  • If you're referring to the letter he wrote to the Finance Committee about 19 months ago this is what I think: I think they didn't pay as much attention to the letter as they should have or the financial crisis could have been avoided or at least not as bad as it is now. If you're referring to the package that was just voted on then Obama nor McCain had no choice. As our financial system goes, so goes the country.


  • Come on!!
    So, now tell me the banks and governments of the WORLD are listening to Obama... please!
    What are you smoking?


  • Oh thank god the "Messiah" is here to save us all!!


  • What advice was that? amazing he isn't even in office yet and he has preformed a miracle!


  • What was his advice? Capital gains taxes are a good thing?


  • THE STOCK MARKET WILL RISE A LOT MORE THEN THAT WHEN OBAMA IS ELECTED . ESPECIALLY WHEN NEW JOBS ARE CREATED THROUGH RE-TOOLING THE AUTO INDUSTRY AND THROUGH GREEN ENERGY.


  • If what you say is true, then it is a very bad sign for our economy.

    This is not a knock on Obama, but if the mere thought of an Obama presidency is all it takes to get investors interested in Wall Street again, it means that the entire system is based on faith, rather than value.

    If that is the case, then it is doomed to collapse when more and more people start to realize there is no substance there.

    So you better hope you're wrong. Because if you are correct, you won't be so smug about your candidate when his presidency is marred by depression.


  • What advice did Obama give? Any links to your resources?


  • This question is one reason I am not voting for Obama.

    He has reached Rock Star, messiah status, which does not reflect the reality of the world.

    All the best.







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