LETTER: Wake up to angry Obama

I pray that more people are waking up to the president of the United States. Americans are losing their jobs and lifestyle. However,
Sandusky Register Staff
May 13, 2010

I pray that more people are waking up to the president of the United States. Americans are losing their jobs and lifestyle. However, our president is content to travel the world, have parties at the taxpayers' expense and continue to campaign. He also is wonderful at blaming everyone else for his continued failure. This person was elected to be president of the United States. As president, he has been placed in a position that requires leadership. Leaders accept responsibility and losers loathe responsibility

With total control of Congress, he has failed to accomplish anything. The only thing consistent with him is his continuous blaming of George Bush. President Bush was not perfect. However, he did not continually place blame on President Clinton. I know of no past presidents (Democrat or Republican) who blamed the previous administration.

Americans need to stop watching reality television and wake up to the reality of their life under this individual. He is an angry man. All you need is to start paying attention to the look on his face when he does not get his way.

Dan Carroll

Sandusky

Comments

goofus

Obama lied yesterday, he said the stimulus saved the economy. Wrong liar, Tarp was supposed to save the economy and the stimulus was to create jobs. Both of which did neither.

goofus

Duhast, get a clue, taxes will go up if he gets health care. Obama is a pathological liar.

goofus

A one time event is not a tax cut. Did your taxable income level decrease? Once you get your Obama puff money this year will you get it again next year?

goofus

473,000 job loss last week, unexpected. According to Obama math that must put the rate at 8%.

Duhast

So a tax credit is not a tax cut, but when someone suggests mandatory health coverage or something similar that doesn’t change tax rates, it's a "back door tax"?? Goofus, your hypocrisy never ceases to amaze me.

pntbutterandjelly

"This" is the epitome of a slanted article, ie. propoganda. Bush IS to blame. The senate IS to blame. Corporate America IS to blame. Insurance companies ARE to blame. Barack is NOT to blame. Whoever penned this article is foolish or far right-winged.

goofus

Obama's tax cut was not, it is a one time ceredit, no rates were cut.

goofus

N.J. loses $70B in wealth during five years as residents depart
By Leslie Kwoh/The Star-Ledger
February 04, 2010, 5:15AM

MTCDelray Beach, FloridaMore than $70 billion in wealth left New Jersey between 2004 and 2008 as affluent residents moved elsewhere, according to a report released Wednesday that marks a swift reversal of fortune for a state once considered the nation’s wealthiest.

Conducted by the Center on Wealth and Philanthropy at Boston College, the report found wealthy households in New Jersey were leaving for other states — mainly Florida, Pennsylvania and New York — at a faster rate than they were being replaced.

--------------------------------------------------------------------------------
• Rutgers University economists say it could take seven years to recover from recession

--------------------------------------------------------------------------------

“The wealth is not being replaced,” said John Havens, who directed the study. “It’s above and beyond the general trend that is affecting the rest of the northeast.”

This was not always the case. The study – the first on interstate wealth migration in the country — noted the state actually saw an influx of $98 billion in the five years preceding 2004. The exodus of wealth, then, local experts and economists concluded, was a reaction to a series of changes in the state’s tax structure — including increases in the income, sales, property and “millionaire” taxes.

“This study makes it crystal clear that New Jersey’s tax policies are resulting in a significant decline in the state’s wealth,” said Dennis Bone, chairman of the New Jersey Chamber of Commerce and president of Verizon New Jersey.

The report was commissioned by the state Chamber of Commerce and the Community Foundation of New Jersey to study the effects of wealth migration on charitable giving after executives noticed more affluent philanthropists were moving away. Wealth includes assets such as real estate, stocks, bonds, 401ks, mutual funds and vehicles.

John O'Boyle/The Star-LedgerDennis Bone, president of Verizon New Jersey, inside his Newark office in 2004.
But economists say there are many other implications for the state’s financial health.

Wealthy residents are a key driver for everything from job creation and consumer spending to the real estate market and the state budget, said Jim Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University. In New Jersey, the top 1 percent of taxpayers pay more than 40 percent of the state’s income tax, he said.

“That’s probably why we have these massive income shortfalls in the state budget, especially this year,” he said.

Until the tax structure is improved, he said, “we’ll probably see a continuation of the trend, until there are no more high-wealth individuals left.”

He added the report reinforces findings from a similar study he conducted in 2007 with fellow Rutgers professor Joseph Seneca, which found a sharp acceleration in residents leaving the state. That report, which focused on income rather than wealth, found the state lost nearly $8 billion in gross income in 2005.

Findings from the Boston College report show that about 302,780 households left New Jersey between 2004 and 2008, only slightly lower than the 323,350 households that moved into the state. However, the average net worth of the departing households was about 70 percent higher, at $618,330.

Those who left were also more likely to be older and more educated, with jobs as entrepreneurs or in the finance and professional industries, the study found. Those replacing them tended to hold management or support jobs in the manufacturing industry. The study analyzed data from three main sources: The Federal Reserve’s Survey on Consumer Finances, the Census Bureau and the Internal Revenue Service.

Experts pointed to an abundance of anecdotal evidence to support the numbers. Ken Hydock, a certified public accountant with Sobel and Company in Livingston, said in this 30-year-career he’s never seen so many of his wealthy clients leave for "purely tax reasons" for states like Florida, where property taxes are lower and there is no personal income or estate tax. In New Jersey, residents pay an estate tax if their assets amount to more than $675,000. That’s compared to a $3.5 million federal exemption for 2009.

Several years ago, he recalled, one of his clients stood to make $60 million from stock options in a company that was being acquired by another. Before he cashed out, however, the client put his home up for sale, moved to Las Vegas, and “never stepped foot back in New Jersey again,” Hydock said.

“He avoided paying about $6 million in taxes,” he said. “He passed away two years later and also saved a huge estate tax, so he probably saved $7 million.”

Meanwhile, Gov. Chris Christie’s administration said the report is just another reminder of the difficult tasks ahead.

“It’s the consequence that we’ve been talking about for so long, of the spending and taxing habits that we’ve all experienced,” said Mike Drewniak, a spokesman for Christie. “It’s the sort of thing that we feel the need to stop so we can get New Jersey back on a prosperous path.”

-Staff reporter Lisa Fleisher contributed to this report this be very careful about this taxing the rich

Duhast

Actually, he did lower our taxes. Anyone making under $250,000 in 2009 had their tax rates lowered. But as Brutus said, we didn’t vote for him because of his tax policy. We voted for him to execute laws passed by congress. Hence the “Executive Branch”. Had McCain been elected, I doubt he would have done anything different. The stimulus (or part of) was already passed and in effect. A president sets a budget guideline , but it’s the congress that actually puts together the spending bill the president signs.

Mikel, you exude anger with little substance to your rants. If you have any helpful suggestions in lieu of name calling, I’d like to hear them. Also, if you made under 250K last year, I think you should write a check for the difference that you saved and mail it to the white house. I’d hate to think you would accept the benefit of such a heinous policy.

wetsu

Since he duped you lefties on the war it stands to reason that you would apply a measure of outrage to the collateral damage he is causing not to mention how he has expanded the war.

Is that why you voted for him? War was wrong under Bush, why is it OK now?

brutus smith

We didn't vote for him over tax issues. That is why you wingnuts vote for candidates. Anything to get out of paying taxes. Taxes that pay for roads, street lights, police, fire, etc. A bunch of freeloaders and mooches, that is what wingnuts are.

goofus
mikel

its funny that all you lefties that drank the obamass kool-aid and voted for him on the premises that he will lower taxes on all but the upper class wage earners. now..he is saying that one of the only ways for the country to right itself is to raise taxes on everyone! haha left wing idiots. not even raising the taxes on top wage earners will work this time. maybe obamass should have paid attention in his economic classes instead of sleeping through them. he has our country in the shape of a funnel and we are half ways down.

goofus
Duhast

60% would be a bit of an exageration. But, our nominbal tax rate compared to other developed countries is low.

columbus avenue

Dan you are correct about Bush not blaming President Clinton! In fact, Bush did NOTHING except get us in this mess.

You seem to be the angry one. Get over it.

6079 Smith W

@ duhast:

So you're OK with potentially 60% or more of your income going to taxes?

How hard are you gonna work for your 'fellow man'?

I've been currently working less in order to help keep my income down in order not to increase my marginal tax bracket. And I ain't the only one!

Remember when seniors attacked Dan Rostenkoski when he had the Medicare premiums raised?

http://www.nytimes.com/1989/08/1...

Regardless, like I wrote before, most countries inflate their way out of debt as spending less and taxing more is so politically unpalatable.

Inflation is a silent tax that robs a currency of its value. It tends to heavily discourage savings and investing.

Here's another entitlement mess for you:

'States pension plan funds fell $1 trillion short in 2008':

http://www.usatoday.com/money/pe...

Trust me, this whole debt mess ain’t gonna end pretty.

Only by collapse might we eventually re-discover fiscal conservativism.

I recently bought, but have not yet started to read the latest ‘must read’ book, “This Time is Different”:

http://www.amazon.com/This-Time-...

Duhast

Winston,
I agree with you, but a tax increase in addition to a spending decrease is going to be required. Both sides are going to have to take a hit and like it.

6079 Smith W

Here are some facts and their very reasonable implications:

The current economic crisis is the result of the blowup from too much consumer and business spending due to the Federal Reserve's loose money policies.

In it's place, the federal govt. is attempting to create credit in order to stimulate the economy.

We have been taking private debt and turning it into public debt and thereby adding to an already massive state, local and federal entitlement spending debt load.

IMO, using a different strain of the disease of the overextension and misuse of credit, in order to cure the disease will result in a further economic disaster sometime in the immediate future.

We cannot tax our way out of this, we cannot spend our way out of this and we cannot borrow our way out of this.

Only cutting non-discretionary spending (Medicare, Medicaid, Soc. Security, Defense) will get us out of this.

But cutting spending is politically unpopular and so we will be faced very soon with a loss of confidence in the ability of the U.S. to service its debt.

And loss of confidence leads to economic chaos.

For some lessons, watch Greece and its debt story as it unfolds.

BTW: By buying gold, Soros is betting against the strength of the U.S. dollar.

digger nick

Chung I am sure Goofus knows this, much like cumma sum yung guy no make a man. Egg Woll On

stormy

Ron, if you presume that all muslims are damned, or if you presume to know where any individual is going, you may find yourself in the 'pit.'

Where I'm going is not for you to know; it's between me and God. Should I make it to paradise, I'll try to find a really long rope and send you down a glass of water.

Chung Lee

Chung Lee wonder if Goofus realize that a dude in a wig no make a woman?

Pastor Ron

Stormy don't ask for mercy when you are cast into the pit of fire along with the Muslims, Nazis and Communists!

stormy

Oh, here we go again. So the good Lord made the Earth to LOOK billions of yrs old, fossils and all, to test our faith.

What a load. God is not a con artist! A just and loving God wouldn't fill the world with phony but convincing evidence, then send us to he11 when we fell for it.

Pastor Ron

Yeah we should have let Saddam keep on killing those muslims in Iraq. He killed more than 300,000 muslims and I know that is true because he got that information from the same guy who told us they had weapons of mass destruction. We have only been able to kill about 100,000. Only an idiot or a liberal would think that WMD didn't exist. They are buried in the desert like Rumsfeld said. We will eventually find them and then it will be proven that President Bush was the greatest president ever.

I pray that the Lord Jesus will give these liberals the ability to use the brains that he gave them. These liberals have to be the dumbest people in the Earth's 6,000 year existence!

kURT

win stone you wern't being addressed. strudel nugen

Richard Bebb

So the dems plan is to label the right as obstructionists (even though they held super majorities in the house and senate and still overwhelming majorities and still couldnt get anything accomplished due to their own incompetence) or to continue place blame on Bush (even though Barry has been in office for over a year and the only accomplishments he can claim is soaring unemployment and debt while hamstringing our intelligence agencies while we are at war). If that is the plan to save their political rears I can see why so many dems are fleeing like rats off a sinking ship - C'mon November !!!!

digger nick

duhast, The weapon of mass destruction WAS found. It's name was Sadam, who killed hundreds of thousands of his own people much like Hitler. Unless of course you are one of the fools who claim the Holocaust never happened? As far as being President, I don't think I could take the pay cut.

goofus

Wetsu, the republicans should not become the party of no, they should become the party of h*ll no. It' not an olive branch it's a snake disguised as an olive branch. Obama has said he would like input on his plan, excuse me he has no plan and the congress has two. Nothing good can come from the meeting.

wetsu

So is the president on the right track with the nuclear olive branch he extended to the R's?

Pages