34 MINUTES OF TAX AND SPEND!
Take away the big venue. Take away the politicians. Take away the soaring rhetoric and what do you have?
I think it is simple…a 34 minute speech about more taxing and more spending cloaked into a lot of blah blah blah. With all due respect, this was another $450 billion of nonsense. There was not one…I repeat…there was not one word about putting certainty in the minds of consumers and businesses. The only certainty again was that government is going to spend more taxpayer dollars. Again, this man thinks it is governments money to dole out. I have news for him…it is our money being doled out to the government…only you decided to bring this country to the point where the next 8 years of taxpayer dollars are already spent.
I have told you since day one of this administration to pay no attention to what he says and watch what he does. This administration was easy to figure out when we all heard “I will not treat taxpayer dollars as monopoly money” or my favorite “I will go line by line!” When I hear anything coming out of this administration’s mouth, I think of one phrase…”yeah…that’s the ticket!
So…a few thoughts:
Government creates no long term jobs. Ok…I take it back. They create long term jobs in inefficient government bureaucracies.
When government borrows to pay for something, it does not stimulate because those dollars have to be paid back. It is just more debt.
There will be no businesses hiring an extra worker just because they get a $4,000 giveaway from taxpayers.
A payroll tax cut does not change behavior. It is just government again saying…here is a little gift for you. It only works combined with permanent tax cuts.
Wasn’t our debt just downgraded? This “program” will just add more. Raise your hand if you believe it will be paid for.
There was absolutely nothing mentioned about putting certainty into a business owner’s mind. Short term thingamabobs are meaningless.
I will have a point by point dissection of the speech over the weekend. I will send it out as well as post at garyk.com.
Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.
Gary, your analysis of “The Messiah’s” teleprompter speech was spot on. As for me I could not suffer through the rhetoric in it’s entirety, let alone stand the sight of the trained seals called Democrats jumping up to clap on a regular basis. Absolutely nauseating. This next election cannot come soon enough and though I claim allegiance to neither party(I would be ashamed and embarrassed to do so) I will vote for a Republican even if they drag out a donkey as their candidate. Appreciate your radio show and commentary…. Terry
Obama is a leftist liberal. He wants to expand government for the sake of “social justice”.
What is the most EFFICIENT way to expand government? Create a need a for it.
He knows what he’s doing. Hence, the policies, the rhetoric, the legislation, the double dealing….etc, that’s economically impacted this country even further to the downside from when he took over. There’s your need; everything from unemployment to GDP is going south.
Now, his “Jobs Speech” was his attempt to even further fill this need as he has been for the last three years, with more government. We will come to the rescue. He knows that when once government dependency exists, its very difficult for that entity to gain back it’s self-reliance.
That’s right……he is a smart man and he’s doing this intentionally. It’s disgusting, it’s deplorable, and it’s goes against the interest of national security.
It’s his only hope and prayer that the general American population is too stupid to realize this OR………… that there is a viable third party candidate that will suck away votes from the Republican candidate in 2012, giving him the majority.
In any situation, he has to be dealt with.
I have tried hard to think of the least wasteful way for government to “invest” money and create something worthwhile. The best idea that I could come up with is to create a bunch of power plants which could then be sold off to utility companies at some point in the future. Hey, maybe the taxpayers only lose 25%. But that’s better than losing 100% by rebuilding a road or a bridge that’s already exists.
Tax and spend? Please, these terms are so gauche. We don’t tax, we seek “revenue enhancements.” What you call spending is more properly termed “investment.” So you see, we don’t tax and spend. We enhance revenue by promoting fairness and cutting expenditures in the tax code. Then we invest in America’s future.
Dont ya just love government rhetoric?
I just can’t understand why when you go over the stocks and how they did for the day you quote in dollars (which is meaningless ) as compared to the percentage. For example you quote stocks that were down over $4.00.. for the day .there’s a big differnce when priceline goes down 4.00 and in the same group you could say caterpillar went down 4.00 .. big,big difference. What is meaningful is the PERCENTAGE it went down. that is what is important ! every time i listen to you and you start quoting ups ordowns in dollar figures , I just get annoyed to think that us listeners would have to know the price of each stock to see how badly these stocks have been damaged.
the example i used as if priceline was down 4.00 that would be barely a loss of 3/4 of 1% (barely a loss) as opposed to caterpillar if it loses 4.00 that would would be a significant loss approx 5 % that is a loss. the way you quote dollar losses , in theory they could be quoted in the same group.
i hope you take a good look at what i am saying and hopefully you will see the importance of just quoting in percentage gains or losses.
i do love to listen to you as i am a investor who believes in your direction and knowledge . I hope that you take this recomendation and start to see the importance of this email. thanks for this oppertunity to voice my thoughts.
Completely disagree. The most important stocks in the market are the higher priced growth names so I cover them. If anything sticks out at lower prices, I cover them also. Anyway, you can just go on a thousand websites to find the biggest perecentage gainers. They are usually less than $10.