Posted by
Dwayne H. on Sunday, October 12, 2008 8:56:55 PM
Is the market reflecting the growing fear that Obama is going to win? I personally believe that it is, and I'm not alone. Yes, we will see it settle down during this next week, but you will see, as we get closer to election day (if Obama holds a substantial lead) more people pulling their money out. I have heard many people saying that they are going to quit and retire (possibly on a Carribean Island with a small or no capital gains tax). Obama's tax program, if he is elected, is going to cause us to see what happened in Atlas Shrugged. The book Ayn Rand wrote 50 years ago, she saw then what was coming because of Government having it's hand in everything and the welfare program that had been set up during the great depression. In her book most of all the smartest and most successful business people did when they were being forced to treat everyone equally (hiring lazy, untrained people the same as hard working trained people). If your company is doing well you should be buying your supplies or raw materials from all or many different companies-whether they are efficient or not. The government didn't think it fair for people with good jobs to have more things than those with no job. So rather than work hard only to enable more lazy people, the smart and successful people dropped out of society and started their own Utopian society where they could invent and use their productivity for their own benefit and trade with the other hard working people.
I don't think the part of the "successful people Utopia" will happen, but you will see many successful people shut down their small businesses and live off what they already have. You will see many of the extremely intelligent CEO's and higher ups in large corporations retire, rather than work hard to only give the majority of their income to the less productive or non productive populus. What benefit will their be creating and growing a successful business only to benefit those who do nothing, while also being forced to hire unproductive people. There are really only so many people who are highly intelligent, creative, and very motivated to achieve success that make the wheels of this country turn, what happens when they all say "to heck with it" and quit? If Obama wins I fear that we may find out much more quickly than anyone forsees. If the only benefit in working hard is to support more lackies, then we have no motivation to succeed. Think it can't happen, most of the supersmart people out in silicon valley have already made theirs, why continue working when income tax for the "wealthy" is going to be hammered. They are going to take their money and retire. That's what my little brother did when he was only 30. But will these people invest their money here in new businesses or other US Stocks when they know that the capital gains taxes under Obama will go back up to 25% or higher. NO, NO, NO!! I may quit working myself to keep our income lower and just be a subsistence farmer, and we'll live off my wife's teacher income. Obama will take care of the teachers as NEA is one of his largest supporters (from the US) it is unclear how much foriegn money came into his campaign. Enough of this for now. God Bless the USA, as we will need it. I just heard a Michelle Obama speech saying how Barack thinks we should work for the "world" as it should be! Ever notice how he always talks about the world and not the country??