Thoughts on the race

March 28, 2008

Obama
I just don’t understand the momentum that Barack has achieved. Yes he’s smooth talking and young. What has he accomplished? To further complicate the issue he has this Wright scandal which I believe will end up keeping Obama from the Presidency. Wright has turned out to be a HUGE racist and for Obama to have a 20 year relationship with the guy is unacceptable.

I’ve heard rumblings that things said by Wright is normal in the black church. I hope that’s not true. If it is this country has larger racial issues then I thought.

Hillary
My honest first reaction to the Bosnia shooting rumor was that Hillary just miss spoke about what happened. But now It seems clear that she was intentionally embellishing the truth. I don’t want to come out and call her a liar. I’ll give her the benefit of the doubt.

However it’s not the first time something has slipped her mind. Senator Clinton says she has been “a critic of NAFTA from the very beginning.” In fact, newly released White House records indicate that she advocated the 1993 trade agreement.

So there’s a pattern of deceit and convenient absent mindedness that Hillary continues to wear. I guess living with Bill that’s bound to rub off on you.

McCain
McCain confused Sunni & Shiite two weeks ago and the media went nuts. Yes it’s a pretty big mistake. It’s like mixing up China and Japan. But he corrected himself. What McCain did here was not indicative of a long term pattern.

Meanwhile, McCain has been oversees viewing the situation in Iraq first hand. I think that’s big for a few reasons. One he’s showing his undying support for the troops. But more importantly it will be vital to helping him make better judgment calls down the road.

McCain just being republican was left for dead but in light of the recent current events. I have to believe McCain has a better then 50/50 chance at the Presidency. At the end of the day the President has to be able to make sound judgment calls. I honestly think the history of deceit and poor decisions Obama and Clinton bring to the table will be their own undoing.

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Drugs in the water

March 11, 2008

I heard this report the other day coming out of LA. I didn’t pay much attention to it except to think that drug dealers were dumping their coke down the toilet and it was getting into California’s limited drinking supply.

J-Dub pointed out it wasn’t just “those” kind of drugs. It was mostly the pharmaceutical drugs that people are peeing out. Which is really gross to contemplate. Considering that certain percent of drugs like ibuprofen in making it through my body into the water supply and into your mouth. I kind of find it more startling that researchers are telling us how much urline we’re drinking… yuck. :shock:

I did find this kind of funny and while the desire is great I’ll resist crackin’ a joke…

A sex hormone was detected in San Francisco’s drinking water.

The whole story kind of reminds me “I am Legend” or better yet “28 days” or “28 weeks”.

Kudos to J-dub for passing this along.
Source

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YES! CHICAGO IS #1… oh wait a second…

March 5, 2008

…Under the deal, the county portion of the sales tax increases from 0.75 percent to 1.75 percent in November…Chicago’s overall sales tax will stand at 10.25 percent, the highest of any major U.S. city. In suburban Cook, the sales tax would be a minimum of 9 percent. By comparison, the rates in New York and Los Angeles are below 8.5 percent.

Cook County Budget Passes

DuPage retailers, here I come!

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NY Times…

February 22, 2008

Here’s what I learned this week about the presidential candidates.

McCain when was attacked by the Times took the situation head on. He even got his wife speaking on the topic. Within literally hours McCain addressed the concerns the Times poorly credited article.

When Michelle Obama said she was “finally proud of her country” did her husband address it right away? Did Michelle even clarify her point? No, they had their advisers handle it.

Next conflict…
Health Care
Iraq
US Poverty
etc etc etc

Who’s going to handle the issues? The guy who gets to the point? Or the guy who can hardly defend his own wife?

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The Candidates on the Issues

January 26, 2008

Rather than clarify which candidate might be the party nominees, the Iowa and New Hampshire contests helped to confuse the matter. As such, below we have included a “side-by-side” comparison of where the six potential nominees stand on some of the issues important to investors and voters. On the Republican side, McCain, Huckabee, Romney and Giuliani all still have a shot at the nomination. The Michigan Republican primary on January 15th could decide the fate of Romney and, to a lesser extent, McCain. Currently, the polls show McCain, Romney and Huckabee in a dead heat for first. And, with Romney polling poorly in South Carolina, he desperately needs a win. What looks more and more likely is that the Republican contest won’t be decided on or by “Super Tuesday” (February 5th), when some 21 states hold nomination contests.

On the Democratic side, Clinton and Obama also could be in for a fight that lasts beyond February 5th. Neither seems likely to score a knock-out punch before then. Obama has had the momentum but many of the upcoming primaries will only be open to registered Democrats (independents won’t be allowed to vote in the Democratic primary). Clinton has consistently polled better among registered Democrats while Obama attracts more independents. The only thing clear about the Democratic—and, for that matter, the Republican—contest is the uncertainly of who will be the nominee.

Iraq

McCain: McCain has the position closest to Bush’s on Iraq. McCain supported a “surge” strategy as early as 2003. It’s unclear what steps McCain would take if elected president, but it seems clear we would have a large number of troops in Iraq for a much longer time. In fact, on Meet the Press on 1/6/08, McCain said we’d be in Iraq for the next 100–yes, 100 years.

Huckabee: Supports the surge and doesn’t think we should set a timetable for withdrawal. “This country has never declared war
until ‘a week from Wed.,’ we have always declared war until victory.”
Focused on winning and that withdrawal would have serious strategic consequences for us and horrific, humanitarian consequences for the Iraqis. Supports a regional summit so that Iraq’s neighbors become militarily and financially committed to stabilizing Iraq.

Romney: Opposes troop withdrawal. Supported the President’s plan for additional troops in Iraq.

Giuliani: Opposes setting timetable for troop withdrawal. Supported Bush plan to send additional American troops to Iraq. Opposes congressional resolutions criticizing troop increase. Says failure in Iraq will lead to a broader regional conflict.

Obama: Obama supports the concept of “phased withdrawal,” a gradual pullout of a brigade or two from Iraq each month for 16 months.

Clinton: Voted for use of military force in Iraq, but now says she would have voted differently “if we knew then what we know now.”
Supports de-authorizing the war. Voted for war spending bill that would have withdrawn most U.S. troops by March 2008. Opposed Bush plan to increase the number of American troops in Iraq. Supports a phased redeployment and a cap on the number of American troops in Iraq.

Taxes

McCain: Voted against 2001 and 2003 Bush tax cuts, but later voted in favor of extending them through 2010 and favors further
extending them. Opposes taxing “carried interest” at marginal rates.

Huckabee: Supports the “Fair Tax,” which would repeal income and other taxes and abolish the Internal Revenue Service, replacing the taxes with a national retail sales tax. Has stated his opposition to new taxes, including changing the way “carried interest” is taxed.

Romney: Supports making Bush tax cuts permanent.
Supports eliminating the tax on interest, capital gains and dividends for taxpayers with AGI under $200K. Favors lowing the corporate tax rate.
Opposes taxing “carried interest” at marginal rates.
Favors eliminating the death tax.

Giuliani:
Supports making Bush tax cuts permanent. Won’t sign a ‘no tax’ pledge and supports eliminating the death tax. Proposes cutting the corporate tax rate from 35 percent to 25 percent. Proposes cutting the capital gains tax from 15 percent to 10 percent. Opposes taxing “carried interest” at marginal rates.

Obama:
Supports allowing the Bush tax cuts to expire for those making more than $250K. Supports scaling back capital gains taxes (to 28% compared to 20% if the Bush tax cuts simply expired) and dividend taxes and re-examining taxes for the top one percent of earners. Proposes to raise the cap on the amount of income subject to the 6.2% Social Security tax beyond the existing limit of $102,000 for 2008. Supports taxing “carried interest” at marginal rates. Proposes an income tax cut of $500 per person (or $1,000 per working family) for 150 million Americans.
Proposes a universal mortgage interest credit of 10% for homeowners who make under $50,000 a year. Proposes the elimination of income tax for retirees making less than $50,000 a year. Proposes simplifying the process of filing a tax return, which could be negative news for H&R Block (HRB-$1Cool and Jackson Hewitt (JTX- $25).

Clinton: Has proposed allowing portions of the Bush tax cuts to expire for those making more than $250K, while preserving them for everyone else. Favors taxing “carried interest” at marginal rates.

Health Care

McCain: Opposes federally mandated universal coverage.
Would increase awareness and promote the use of existing children’s health insurance programs, while expanding community health centers.

Huckabee: Says current system is “irrevocably broken” but opposes federally mandated universal coverage. Would encourage private sector innovation to reduce health care costs. Supports market-based approaches at the state level.

Romney: As governor, signed into law a universal health care plan that requires all residents to have health insurance, with premiums tied to income and subsidies for the poor. Supports covering the uninsured without raising taxes or creating a government-controlled system.
Encourages states to develop their own plans to cover the uninsured using market-based approaches. Supports providing greater financial assistance to help uninsured Americans buy private insurance.

Giuliani: Supports market-based approaches to reducing health care costs and improving quality of care. Opposes federally mandated universal coverage. Proposes reducing insurance costs for individuals not covered by an employer-based plan by offering an income exclusion of up to $15,000. Proposes tax credits to uninsured low-income Americans to supplement Medicaid and employer contributions.

Obama: Would create a national health insurance program for individuals who do not have employer-provided health care and who do not qualify for other federal programs. Allows individuals to choose between the new public insurance program or from among private insurance plans that meet certain coverage standards. Requires employers who do not provide health coverage for employees to pay into the national health insurance program. Does not mandate individual coverage for all Americans, but requires coverage for all children.
Supports follow-on biologics (generic) legislation.

Clinton: Mandates individual health insurance coverage for all. Offers federal subsidies for those who can’t afford it. Allows individuals to choose from among several private plans also offered to members of Congress, as well as a new public insurance plan modeled after Medicare. Requires insurance companies to offer coverage to anyone who applies, and bars insurance companies from charging higher premiums to those w/ preexisting conditions. Requires large businesses to provide or help pay for employee coverage. Supports follow-on biologics (generics) legislation.

Energy

McCain: Now supports ethanol (didn’t in 2000). Supporter of nuclear energy. Favors drilling in ANWR. Supports limits in CO2 emissions similar to Kyoto treaty provisions.

Huckabee: Wants the US to be energy independent by his second term. Supports various forms of alternative energy from ethanol to clean coal to biomass and nuclear. Supports drilling in ANWR and along the Outer Continental Shelf.

Romney: Supports nuclear, ethanol, and various other alternative fuels. Favors drilling in ANWR. Supports “full exploitation” of coal—both solid and liquid.

Giuliani: Supports nuclear, ethanol and various other alternative fuels. Supports clean coal technologies, including carbon sequestration.
Supports expanding environmentally-responsible access to the proven oil and natural gas reserves.

Obama: Supports a federal Renewable Portfolio Standard (RPS) that will require 25 percent of American electricity be derived from renewable sources by 2025. Supports an 80 percent reduction in greenhouse gases (GHG) by 2050 through a cap and trade mechanism. The plan also calls for the US to reduce GHG emissions to 1990 levels by 2020. Supports nuclear energy expansion. Supports clean coal technology.
Opposes drilling in ANWR.

Clinton: Supports renewable fuels, including ethanol, nuclear (though no additional subsidies), biomass, etc. Would end tax breaks for oil companies passed in 2006 Energy bill. Opposes Yucca Mtn. as a repository for nuclear waste. Supports a new Kyoto Treaty when the current treaty expires in 2012.

Financial Services

All GOP Candidates: Oppose taxing “carried interest” at marginal rates.

Obama: Proposes establishing a credit card “bill of rights”, which will: 1) ban unilateral changes; 2) apply interest rate increases only to future debt; 3) prohibit interest on fees; 4) prohibit “universal defaults”; and 5) require prompt and fair crediting of cardholder payments.
Supports eliminating the Federal Family Education Loan (FFEL) program offered by banks and other private lenders. Negative for Sallie Mae (SLM -$20), Nelnet (NNI-$11), etc. Proposes capping interest rates on all payday loans at 36 percent, similar to the law that was passed in 2006 capping payday loans to military personnel.

Clinton: Proposes eliminating prepayment penalties on mortgage products. Proposes requiring mortgage lenders to include the cost of taxes and insurance in the underwriting assessment of higher-risk mortgages. Supports eliminating the Federal Family Education Loan (FFEL) program offered by banks and other private lenders. Negative for Sallie
Mae, Nelnet, etc.

Labor

McCain, Romney & Giuliani: Would likely oppose legislation in Congress making it easier for employees to unionize.

Huckabee: Generally seen as having a more pro-labor stance than the other Republicans in the field, but by no means pro-labor.

Obama & Clinton: Support legislation that would make it easier for unions to organize. Favor giving part-time employees vacation and sick pay. Negative for restaurants and retail shops. Support a “living” wage and indexing the minimum wage to inflation.

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