Obama's 2nd Term

[byu71]

Check your phone, mr. President-- the 80's are calling.

In one of the debates President Obama chided and mocked Romney because of Romney labeling Russia as our major "geo-political" enemy. The Presidnet said something like the cold war has been over for 20 years.

No I don't have that good of memory, Fox News showed the exchange. I know Fox is always picking on the President and that is why they are the only media outlet I have seen mention this.

I do watch Candi Crowley on Sunday's because I am so greatful she cut Romney off when he was going after the President on Bengahzi.

[Omaha 680]

I don't think President Barack Obama is a very good President. I agree with the critique offered. My honest question is what is the US really willing to do to confront Russia in a way that motivates Russia to stop? Is Europe scared enough that they would be willing to join in the economic sanctions it would take? Is Europe willing to send a force into Poland to stare on the border at Russian troops? The problem is the foreign policy "fantasy" is either far more prevalent than just within the Obama admin, or the reality is enough folks have enough to gain from doing business with Russia that Crimea/Eastern Ukraine are not worth the pain we must inflict on ourselves to motivate Putin to stop.

I think it is a little of both. Three generations of having their defense subsidized by the US has cemented the fantasy foreign policy in Europe. And we saw how seriously our European partners took the Iraq sanctions.

[byu71]

I am not a fan of President Obama's policies for the most part. However, I really like one of his ideas in the latest budget. Do away with the "carried interest" tax break. I have heard the reasons why and it is bogus to me.

Basically it is like your financial advisor advising you to risk your money and buy a stock. The stock doubles over two years. His fee, again your money that you paid for his service also gets long term capital gain treatment. Of course that is not true with financial advisors. Why on earth should it be true of Hedge fund people? In my mind it is utter bull shit and this is something I am actually going to send a letter to Hatch and Lee on.

I would ask them why the heck they get such special treatment when their average return in 2013 was around 9% and the S&P did around 32%

Dang I wish Viking were here to call me names.

[PaloAltoCougar]

I am not a fan of President Obama's policies for the most part. However, I really like one of his ideas in the latest budget. Do away with the "carried interest" tax break. I have heard the reasons why and it is bogus to me.

Basically it is like your financial advisor advising you to risk your money and buy a stock. The stock doubles over two years. His fee, again your money that you paid for his service also gets long term capital gain treatment. Of course that is not true with financial advisors. Why on earth should it be true of Hedge fund people? In my mind it is utter bull shit and this is something I am actually going to send a letter to Hatch and Lee on.

I would ask them why the heck they get such special treatment when their average return in 2013 was around 9% and the S&P did around 32%

Dang I wish Viking were here to call me names.

As I started reading this I imagined Viking reappearing, so we'll have you to thank if he does. As I've mentioned before, I know several in the VC and hedge fund markets who love the carried interest thing, but privately acknowledge it makes no sense and couldn't provide a good argument for its continuation. I also believe President Romney, despite having benefited immensely from the current policy, would have supported the change and might have advanced it himself.

[Uncle Ted]

I am not a fan of President Obama's policies for the most part. However, I really like one of his ideas in the latest budget. Do away with the "carried interest" tax break. I have heard the reasons why and it is bogus to me.

Basically it is like your financial advisor advising you to risk your money and buy a stock. The stock doubles over two years. His fee, again your money that you paid for his service also gets long term capital gain treatment. Of course that is not true with financial advisors. Why on earth should it be true of Hedge fund people? In my mind it is utter bull shit and this is something I am actually going to send a letter to Hatch and Lee on.

I would ask them why the heck they get such special treatment when their average return in 2013 was around 9% and the S&P did around 32%

Dang I wish Viking were here to call me names.

I think it has about a 0% chance of passing the house but I am just happy that President Obama is submitting a budget.

In other news about Obama's budget...

Obama will propose expanding the EITC to benefit the roughly 13.5 million workers who don’t have children.

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/03/03/breaking-obama-to-propose-expanding-eitc-and-child-tax-credit-in-budget/

Earned income tax credit for folks that don't have kids. About time those mormons and catholics pay more of their own way.

[Omaha 680]

I think it has about a 0% chance of passing the house but I am just happy that President Obama is submitting a budget.

In other news about Obama's budget...

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/03/03/breaking-obama-to-propose-expanding-eitc-and-child-tax-credit-in-budget/

Earned income tax credit for folks that don't have kids. About time those mormons and catholics pay more of their own way.

I would be more inclined to support the EIC and its expansion if the official name were: "Earned" Income Tax Credit.

[I.J. Reilly]

As I started reading this I imagined Viking reappearing, so we'll have you to thank if he does. As I've mentioned before, I know several in the VC and hedge fund markets who love the carried interest thing, but privately acknowledge it makes no sense and couldn't provide a good argument for its continuation. I also believe President Romney, despite having benefited immensely from the current policy, would have supported the change and might have advanced it himself.

This is part of Dave Camp's (Repub. chair of the House Ways and Means Committee) recently-published plan to overhaul the tax code. Seems to have broad bi-partisan support. I wonder if that's enough to change the code.

[Uncle Ted]

I would be more inclined to support the EIC and its expansion if the official name were: "Earned" Income Tax Credit.

President Obama heard you...

http://www.whitehouse.gov/sites/default/files/docs/eitc_report.pdf

[venkman]

Senate (including 8 democrats) reject "Free Mumia" lawyer for DOJ spot. I guess there's still a smidgen of decency left in that august body.

[byu71]

On Bloomberg last night they talked about Sweden having some "employment" problems and it could lead to a change in their government.

I thought Sweden was one of those countries Obama, Reid and Pelosi want us to emulate. They have so many benefits for their people.

I guess Germany has cut back on benefits and their unemployment rate has come down below their historcial averages.

[byu71]

Instead of going off on the Pope for his quote, "Why are the Deaths of the Homeless not a Headline but a 2-point Dow Jones rise is"? Instead of going off on President Obama for praising the Pope for this quote, I will ask if I am misunderstanding something?

I myself have never seen a two point rise in the Dow being a headline. I have seen the deaths of homeless people maybe not the lead story, but certainly reported.

Who are the people they are condemning who would be more concerned about a 2 point move in the Dow Jones than sorrow or compassion for someone who died homeless?

[snowcat]

Bringing down the house at the Hague.

[All-American]

I'm trying to decide if this is serious.

http://o.dailycaller.com/all/2014-03-28-white-house-looks-to-regulate-cow-flatulence-as-part-of-climate-agenda

So now Obama is trying to regulate . . . farting cows?

[YOhio]

I'm trying to decide if this is serious.

http://o.dailycaller.com/all/2014-03-28-white-house-looks-to-regulate-cow-flatulence-as-part-of-climate-agenda

So now Obama is trying to regulate . . . farting cows?

I bet cowboy always blames the cows. Must be nice to have that convenient excuse.

[cowboy]

I bet cowboy always blames the cows. Must be nice to have that convenient excuse.

I usually blame '71. I did an interview for CNBC back in 2008 when the EPA first brought this idea up ( ftr that's a straight brag, no humble about it). At the time, the EPA said they had no intention to regulate cattle, but they were just floating the idea of a tax for discussion purposes. Now it appears that we're headed that direction, as there is no way to 'reduce ' emissions, so they only viable option will be to impose a tax and then force farmers to purchase offsets. Cap and trade by regulation rather than legislation.