capital gains tax

There's an e-mail circulating among smart people who should know better that purports to be a "2008 Presidential Candidate Comparison" and warns you to "stay informed on what you are actually voting for in November."

It's full of lies.

CLAIM: Obama will "institute a socialized national health care plan."

There's an e-mail circulating among smart people who should know better that purports to be a "2008 Presidential Candidate Comparison." It's full of lies.

CLAIM: Obama will "institute a socialized national health care plan."

In a clip that just aired on Fox News a few minutes ago (around 4:05 p.m., CST), Barack Obama dismissed one of John McCain's economic proposals - reducing the capital gains tax - saying it wouldn't do anything to help people in the current economic crisis because not many people are going to be having capital gains (alluding to falling stock and real estate prices).

Yesterday's bailout defeat had less to do with Wall Street, less to do with Main Street, and more to do with Congress reflecting the American electorate's vote of no-confidence in Bush Presidency's economic policies of the past 8 years, even beyond the pull of party loyalty.

A thoughtful community stalwart sent me the following in an email this morning. Mr. Fred Weyler of Mt. Juliet has the following observations:

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There seems to me to be a fundamental flaw in the bailout plan recently defeated.  At its very heart, our current financial problems are a crisis in the confidence in credit, and yet the government’s proposed response is to prop up bad credit with even more debt.

The GOP is b-a-n-a-n-a-s.

The House Republicans sank the bail out bill and the market convulsed in response. As I write, the DOW is down 777, nearly 7%. The House Republicans wanted a bill stuffed with things like a cut in the capital gains tax. They got a bill that was a clearly a compromise bill that had been worked out and they killed it.

The ideological conservatism of Marsha Blackburn’s House Republicans and the pragmatism of Bob Corker clashed over the weekend in the debate over how best to deal with America’s financial crisis: