As for simple, linear logic – Obama said that someone making $500K or $1,000,000 whose tax rate increases from 36% to 39.6% – that to that someone the difference is “chump chage” – that it is “nothing.” His words. If you made $500K this year and I took $18,000 from you would you consider it “nothing?” I don’t know about you but that logic scares me.

I won’t post any more negative posts on your blog – I may ask some questions once in a while – I am in the oil business and I like reading all the different views on the future of the energy industry.

Sorry, I guess I’ve been suffering a little from Obama Derangement Syndrome – I’m better now. I hope Obama turns out to be the best president the US has ever had and cleans up all the messes the Replublicans and Congress has made over the past few decades. The US needs a strong leader and problem solver – I hope Obama is the one.

Further, I also believe that capital gains taxes should be raised, and the whining about it from the right wing seems shameful and disingenuous at this point in time. It was utterly disgraceful of them to push for it in the middle of the financial market meltdown. Somebody’s gotta clean up their mess, and eventually we’re going to have to raise taxes to go it. The only thing worse than a tax-and-spender is a don’t-tax-and-spender. It’s time for America to start behaving in a responsible and fiscally conservative manner, and brace ourselves for the challenges of the future.

Finally, claiming that Obama has “simple, linear logic” or that he is blind to the laws of nature has no basis in anything you have presented here. I invite you to take your pre-emptive attacks on our new president elsewhere, at least until he’s had a few minutes to prove himself.

http://thinkprogress.org/2008/10/02/debt-10-trillion/

The national debt is going to be a vertical line upwards for the foreseeable future.

Just one clarification on my comment above – it’s not that revenues go up or down with the cutting of captial gains taxes – it’s that Obama didn’t care. He seems to have a scarcity mentality that there is only so much to go around and it is the government’s sole responsibility to “redistribute” the wealth. I prefer a president with an abundance mentality that sees that if we grow the pie then everybody’s life can improve. Obama seems to use simple, linear logic like, “hey, if we double tax rates from 30% to 60% then we will double tax revenues for the government.” It doesn’t work that way. As far as I can tell Obama doesn’t care about improving GDP growth. Instead, Obama seems to want to kill the geese that lay the golden eggs.

Oh, I forgot. With Obama winning I no longer have to worry about paying my mortgage or gas bills now. Hah. People may be in for a big disappointment.

Obama lost me when, even after it was explained that government revenues tend to go down when capital gains taxes go up, said he would do it anyway out of fairness.

I hope he has some good advisors (and not just a bunch of Marxist buddies) since he doesn’t seem to have any clue about economics – or human behavior for that matter. The One will learn the hard way that he cannot change the laws of nature.

I’m not sorry to see Bush leave – he was a disaster. But I fear that Obama’s presidency will be one hell of a trainwreck.