Wednesday, October 10, 2012

I'm voting for Romney... but really??

Sometimes guilt by association is a powerful thing. This guy makes me want to reconsider my vote (that's hyperbole). In particular, I like the line that he had to stop building his dream house. The "dream house" in question is a 90,000 sqft mansion in Florida. When Obama came into office, the Florida real estate market was just starting to tank. The fact that it hasn't recovered fast enough has very, very little to do with Obama. Instead, it has everything to do with an incredibly volatile tourism and retirement bolstered Florida real estate economy. When the stock market crashes (pre-Obama) and the economy crashes (pre-Obama) then retirement and tourism crash as well. Throw in a Bank crisis and a general sense that we ALL need to delever (heck, if it wasn't so wonky, "Deleverage" would be the slogan for the Republicans this election year) and you've got a baked in recipe for real estate disaster. Historically low rates on homes have kept the market from being completely moribund.

I get that he's freaked out over Obamacare (although, that probably means he's not covering employees health insurance right now) but the ultimate solution to THAT problem is to pay people less and pay for their health care. Look, "You made $30,000 last year. I'm going to have to pay you $25,000 so I can divert $400 / month to this health care. If you don't like it, call your Senator."

As for penalizing the productive... Taxes are at an all time low as a percent of both corporate profits and GDP. So we're not exactly punishing the productive very badly. Yes, Obama wants to (idiotically, IMO) raise the tax rates on the wealthiest people. But that raise is very, very small. We're not going back to the 1800's and 80% effective tax rates. If he wants to "take his ball and go home" then so be it. But ultimately its his profits that are going to keep him here and profits are pre-tax. If he can't get his company back to profitable, the tax rate is irrelevant.

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