Post by elalacran on Jan 24, 2012 22:47:46 GMT -5
Wow. Close to a home run for the prez in a speech that is not so much about the state of the union as posturing for the election in November.
The president's theme of developing export markets continues. That along with slowing the hemorrage of jobs abroad is the only way to attack unemployment.
Record low taxes cannot continue. We have to increase taxes. IMO, that is best done on short term capital gains, "short term" being assets held for less than 5 years. A tax of 40% on speculative trading would not be unfair. Nor would decreasing long term capital gains on property held for 30 or 40 years to neat zero.
This has been the toughest administration on illegal aliens. Both border security and detentions are at record levels. But that doesn't address the illegal aliens among us, and breaking families apart is not the American way. We need some kind of final amnesty program.
Corporate income taxes need to be lowered, so that U.S. companies are not driven abroad. And there need to be penalties for those companies that do export their HQs and employees.
I disagree with several things the president said.
First, it was a rah rah sis-boom speech, but the fact is that America is reverting to the mean and will continue to do so.
Second, low interest loans bother me a lot. It is insane to lend money at 3-5% fixed rates long term. Heck, inflation is greater than that now. We are setting ourselves up for another financial hit as those holding that low interest paper take a big loss as interest rates rise. It is also crazy for the Federal Reserve to force interest rates as low as they are.
Third, I don't think taxing the rich is an answer. The maximum marginal rate ought not to be above 40%, and that is not enough tax revenue to do much about the deficit. But yes, let's have a 40% max marginal rate.
IMO the Republicans picked a weak speaker for the rebuttal. He did not do well in manner or content.
The president's theme of developing export markets continues. That along with slowing the hemorrage of jobs abroad is the only way to attack unemployment.
Record low taxes cannot continue. We have to increase taxes. IMO, that is best done on short term capital gains, "short term" being assets held for less than 5 years. A tax of 40% on speculative trading would not be unfair. Nor would decreasing long term capital gains on property held for 30 or 40 years to neat zero.
This has been the toughest administration on illegal aliens. Both border security and detentions are at record levels. But that doesn't address the illegal aliens among us, and breaking families apart is not the American way. We need some kind of final amnesty program.
Corporate income taxes need to be lowered, so that U.S. companies are not driven abroad. And there need to be penalties for those companies that do export their HQs and employees.
I disagree with several things the president said.
First, it was a rah rah sis-boom speech, but the fact is that America is reverting to the mean and will continue to do so.
Second, low interest loans bother me a lot. It is insane to lend money at 3-5% fixed rates long term. Heck, inflation is greater than that now. We are setting ourselves up for another financial hit as those holding that low interest paper take a big loss as interest rates rise. It is also crazy for the Federal Reserve to force interest rates as low as they are.
Third, I don't think taxing the rich is an answer. The maximum marginal rate ought not to be above 40%, and that is not enough tax revenue to do much about the deficit. But yes, let's have a 40% max marginal rate.
IMO the Republicans picked a weak speaker for the rebuttal. He did not do well in manner or content.