According to Yahoo News Asia, President-to-be Obama (com’on fellas, as hard as it may be for some of you to admit, barring an electoral act of God, it’s really a foregone conclusion) will submit the FTA to Congress for ratification in early 2009.
Per the article:
[Obama's foreign policy] adviser, Frank Jannuzi, set several preconditions, however, including the “strengthening of the access of American automobile exports to Korea, taking steps to make sure workers who might lose their jobs will get job training and unemployment and health insurance, and solving the beef issue”.
“Strengthening of the access of American automobile exports to Korea?” Boy, good luck with that one. Me thinks despite what Jannuzi says (or has told Obama to do) ratification by early or even mid-2009 is a pipe dream, if it get’s ratified at all.
{ 42 comments… read them below or add one }
“U.S. automakers have called for a guaranteed market share”
Ridiculous and incredibly arrogant. I want to sell you cars and you have to guarantee my market share, anything less is unfair protectionism.
President-to-be Obama (com’on fellas, as hard as it may be for some of you to admit, barring an electoral act of God, it’s really a foregone conclusion)
I don’t think McCain can manage an EV win but I think the actual numbers for the popular vote will end up surprising many people. Obama’s double-digit margin has been nearly cut in half and the Obama’s plans for “redistribution of wealth” (which is bunkum) may be gaining traction. If enough seeds of doubt are planted to give some people subconscious cover to not vote for an untried black man, then this could turn. It’s not a factor that McCain would be proud of but it might help him squeak by with the popular vote.
When McCain wins, I expect a hat tip.
I forgot my link to “redistribution of wealth”:
http://network.nationalpost.co.....plans.aspx
Me thinks despite what Jannuzi says (or has told Obama to do) ratification by early or even mid-2009 is a pipe dream, if it get’s ratified at all.
If he gets some concessions for the unions I think he can get it passed like Clinton did with NAFTA. The Republicans will get behind it and enough Democrats will support him that it will pass. The Colombia FTA might be sacrificed as part of a deal. How many votes are needed in the Senate?
I think the US needs a redistribution of wealth under Obama. There’s been a redistribution of wealth for the past 8 years also. Just in the opposite direction.
I’d like to see a redistribution of wealth from our bloated budget back into my pocket. Unfortunately, we all know that budget reduction isn’t going to happen under either McCain or Obama.
intellectually speaking,
this just shows Obama or his underlings will say anything and everything to anyone and everyone to
make the first black American President in the US a reality.
I just want to ask a serious question.
Why is it exactly important to have the first black American President in US history?
this at the COST of Marxism?
Let’s keep in mind the rest of the sentence that CM edited out:
“U.S. automakers have called for a guaranteed market share, BUT BUSH ADMINISTRATION OFFICIALS SAY THE TRADE DEAL WILL NOT MAKE SUCH GUARANTEES.
That is very different from the attitude of ROKGOV which still mouths the welfare-Hyundai argument that, as a “still developing/not quite fully developed” country, it is “entitled” to systematic affirmative action in the form of various protections for various industries, which when they are not forthcoming it nevertheless effectively implements (at the governmentally-controlled level) through various sub rosa strategies for accomplishing the same result. I’m currently participating in a seminar on US-Korea trade relations run by a former senior member of ROKGOV who actively worked until just recently in US-ROK trade negotiations for over 25 years and he has acknowledged as much.
The US automakers’ response is just tit for tat and, while objectionable from a free trade perspective, quite understandable – even to such former official, who nevertheless argues that US industry should be held to a higher standard than Korea’s (because Korea is not yet the “equal” of the US).
@WJK
you…moron. Sorry, but to call what Obama wants to do “marxism” is pathetic. Unless you own a bank, you’ve been just a butt-raped by this “fiscal bailout” as the rest of us, and here you are screaming about marxism because Obama’s going to tax a wealth bracket that you probably don’t even belong to.
You wanna see communism? Look at all the goodies the Bush Admin has passed out to the top 1% over the past 8 years.
Jackass.
you’re the moron. He can’t tax bracket EFFICIENTLY. There are legal ways to claim you make $249k. I’m sure all the rich know it, too. The real question is, how is he going to make up for it?
psst~ YOU, middle joe.
that’s how it is in Europe.
At one face he says, he won’t touch the corp rate, and then he says he’ll lower the corp rate, etc, etc.
I can actually make the bracket, 5 years from now.
Bush didn’t pass anything.
He cut taxes for everyone. The same taxes Obama now wants to keep cut down AND add some to people who don’t even pay taxes.
He cut interest rates for everyone.
Renters bought homes they couldn’t afford and became homeowners for months to a year during the Bush administration.
then they defaulted, like they were supposed to, when interest rate rose to control inflation.
now, they blame the rich and hope for lier who says he’ll squeeze the rich and give it back to the poor.
never done in human history, even in socialist European countries. No European country I know of taxes that way. Middle class always pays. Robert Kiyosaki, 101.
scenario.
$250k is very doable if Doctor Male A married Doctor Female B.
who says they should marry on paper?
can the govt force you to, and file jointly and claim you make $250k?
Are people naturally nice, that they throw money away to a govt?
a humanless entity, no face to it?
they will?
People are naturally sinners.
As a pointed off-topic note to some people, if Mr. Obama is elected, he will not be the first black president, he will merely be the next president of America only because America is a place of inclusion and not exception unless one chooses ignores the historical analogy of America being the melting pot of the world.
“jdog” is pretty close to reality in #8. Additionally, Bush’s administration has also blatantly forged facts and equivocated against any science that ran contrary to his business concerns (oil industry, Iraq, etc.). This sort of subversion is ultimately harmful to mankind and not just Americans.
I only wonder if Mr. Obama is in favor of the FTA because of the meat industry deal (???).
they say maintaining a Limited Liability Corp cost $20k a year, I think I heard.
It’s probably worth it, if you make a lot more than $250K in real money,
file for $249 and make it look legit that the rest belongs to a corp rate, not your bracket.
people have been doing this since taxes have been collected.
I know you fools like to say, Obama has said, god has said,
but, seriously, he’s updating and modifying what he has said every 60 days.
for the record, God doesn’t change like Obama.
I think Obama will only effectively tax people who on make a fixed salary on a job well known to get that salary and can’t shift it to the corp rate and such.
that’s a % of the people he’s aiming for.
no matter what, he’s gonna fall short.
the rest has to be made up.
middle class.
Never bet on a sure thing.
Along the same lines as the article, I would fully support the marriage of Lee Hyo-ri, on the precondition that she would continue her regular deliveries of sugar.
#6 wjk – “intellectually speaking”
That’s perhaps the funniest thing I’ve read in weeks!
@WJK
You aren’t even making sense anymore.
1st, I didn’t say Bush “passed” anything, I said “passed out”. As in handed out. As in creating an “anything goes for my buddies” atmosphere.
Now, for people making $250k+, Obama is raising the Corporate gains tax. If people wanna shift their responsibilities to the LLC, let ‘em, they’ll get taxed anyway.
For people whose marriage status puts them into the $250k bracket…tough shit. Seriously. You can’t afford 11.5%? Guess little suzy can’t have those Ballet classes. Boo hoo.
As far as Obama changing his position…his tax plan has been out for…6 months now? Fuck off. I’m not usually this much of a jerk, even on the internet, but I’m so sick of hearing these dumb, alarmist rants.
As for the subject of Europe. Yeah, god-forbid we end up like Switzerland, Finland, or Belgium with their first-rate health care and education. Let’s just keep plodding down the Ayn Rand spiral until we bottom out. Oh, wait, we bottomed out 2 weeks ago.
You hope we did.
LLCs (limited liability companies — corporations have limited liability by definition) are subject to pass-through taxation, rather than the corporate tax. Meaning that the owner of an LLC gets taxed on the profits the LLC makes as if it were personal income. Simply put, anyone attempting to use an LLC as a tax shelter is probably operating on very bad tax advice (or else listening to the MH’s resident raving loon).
Speaking of the MH’s resident raving loon, this one is a gem:
Seriously dude… if you want to pay me $20k to maintain a shell LLC for you, I’ll gladly take the job (I’ll go ahead and pocket the $19.9k left over… we’ll call it ‘administrative fees’). Let me know, okay?
I think one of the interesting results that may eventually come out of an Obama presidency is a serious self-reevaluation of the Republican party – the world’s leading conservative organization.
My greatest hopes for an Obama presidency are of course on the international front, rather than the domestic. America is a center-right nation and Obama won’t be able to fundamentally change that, nor do I want him to. I also have more faith in America’s economy than that of any other large country. The US economy will be fine, or at least, finer than anyone else’s. If Obama wants to fiddle around with some compassionate liberalism while in office, it won’t kill y’all. And there is no doubt at all that the rest of the world wants to deal with him rather than McSame.
Back to the re-evaluation. I saw arch-conservative David Frum on Colbert a few days ago. Being interviewed by Colbert is of course always a challenge, but Frum got a few good lines out, an interesting one of which was “Who are we going to be? If we are going to be the party of Sarah Palin, we’ll end up as a rural white rump party.” Another: “The Republicans have to come up with an environmental policy. Young voters care about the environment more than any other issue, and we’re losing our chance to connect with our future support base by ignoring it.”
That was David Frum, author of the ‘axis of evil’ line? Bizarre.
For Wedge, Carr, CorpyCarly, Andy, mcnut and the others who are going to feel left out in the cold for the next 4-to-8, here’s a couple links from someone who is thinking ahead, a realist who passionately wants to reclaim the battlefield from Obama’s fanatic hordes. I hope the inflexible ideologues who drove your party into the ground will give him a listen.
http://www.rightwingnews.com/m.....frum_a.php
http://themoderatevoice.com/po.....-comeback/
It sounds pretty grim. They want to go back to the same round-robin diplomacy that got NK so much in the 90’s.
The figure of 700k autos being imported from Korea is actually wrong, as it includes 200k produced by Hyundai in the US. The fact that US companies have 12% of the Korean market (from Korean factories) is also conveniently omitted.
But, Korea is this election’s Asian country that’s the scapegoat for Detroit job losses; there’s no fighting it. It’s disappointing to see such a strong ally used in this way.
“I hope the inflexible ideologues who drove your party into the ground will give him a listen.”
Linkd, I think you hope for too much. I think that many in that part of the party, the mid to far right, are hard wired to think one dimensionally. In other words, I think they may have physiological reasons why they think in such rigidly linear paths.
As for me? I’ve explained as much of my political orientation as I care to here.
BTW, I was just kidding. I don’t believe most ppl are hardwired to think a certain way per say… but the the dubya republicans sure SEEM like it!
w.j. “Pharisee” k.:
this just shows Obama or his underlings will say anything and everything to anyone and everyone to make the first black American President in the US a reality.
I just want to ask a serious question. Why is it exactly important to have the first black American President in US history?
There you go again, wjk: Inserting race where race had not been an issue.
not true, Zonath. There is a way LLC can pay at the corp rate.
here’s an easy internet find to prove Zonath is lying.
—–Can corporate taxation cut your LLC tax bill?
If you regularly need to keep a substantial amount of profits in your LLC (called “retained earnings”), you might benefit from electing corporate taxation. Any LLC can be treated like a corporation for tax purposes by filing IRS Form 8832 and checking the corporate tax treatment box on the form.
After making this election, profits kept in the LLC are taxed at the separate income tax rates that apply to corporations; the owners don’t pay personal income taxes on profits left in the company. (Unlike an LLC, a corporation pays its own taxes on all corporate profits left in the business.) Because the corporate income tax rates for the first $75,000 of corporate taxable income are lower than the individual income tax rates that apply to most LLC owners, this can save you and your co-owners money in overall taxes.
For example, if your retail outfit needs to stock up on expensive inventory at the beginning of each year, you might decide to leave $50,000 in your business at year’s end. With the regular pass-through taxation of an LLC, these retained profits would likely be taxed at your individual tax rate, which is probably over 27%. But with corporate taxation, that $50,000 is taxed at the lower 15% corporate rate.
Once you elect corporate taxation, however, you can’t switch back to pass-through taxation for five years, and if you do switch back, there could be negative tax consequences. In other words, you should treat the decision to elect corporate taxation as seriously as you would the decision to convert your LLC to a corporation.—–
In this week’s episode of Which Be Gayest?:
A) Reading anything wjk writes
B) Responding to anything wjk writes
C) Engaging in A or B when this magical script is freely available to all, and will make those three horrible letters disappear forever.
Do it for Jesus. He shall bestow upon thee many extra hand-jobs up in heaven should you follow his word and excommunicate the 3-pronged dragon from the Hole of ye olde Marmot.
right now, if you died today, you’re going to hell, blue balls. Don’t die today. Be a Christian.
Jesus doesn’t get you hand jobs.
nice slip on gays, blue balls.
see, you guys don’t like gays either (let’s say your son is gay, your dad is gay, your roommate is gay, you WOULD be uncomfy), but because you have a grip with white Christians, you pretend to be the gayman’s protector of sort.
nice mind conflict for you.
most of the Christian “sins” against humanity were documented to be done by white Christians.
Korean Christians in particular didn’t hurt anyone, have no record of genocide, extreme racism, etc.
I actually challenge you to prove me wrong.
What ihbb said…
IHBB:
In this week’s episode of Which Be Gayest?:
A) Reading anything wjk writes
B) Responding to anything wjk writes
Did you just call me and jdog gay? Not that there’s anything wrong with that.
“The wjk blocking program is the best thing to happen to my computer since uninstalling Norton!”
- Linkd, satisfied ‘magical script’ customer
Nice try, wjk, but your little blurb just goes to show how little you actually know about anything related to tax. If you were to actually read and understand what it is you plagiarized from, you would see that such a scheme would be almost completely useless for shielding personal-use assets from taxation. Sure, you may get a tax break on certain retained earnings by filing for tax treatment as a corporation, but that really only makes sense if you’re going to use that money for business expenses. After all, the second you use that money for something that’s not arguably a business expense, it gets taxed as personal income. In other words, you get taxed twice – once under the corporate tax, and again under the income tax. It’s really beautiful that you think ‘gaming the system’ generally equates to paying your taxes twice. Seriously though, if you really wanna set something like this up, I do have the time to take your money. I’ll set up a dummy LLC for you and administer it for only $18k/year, since you’re a friend and all.
Zonath, don’t be so sure of yourself. Last I checked, you didn’t claim to be an accountant or any sort of economics guy making a living off of it.
There are numerous ways to ‘game’ the system, and the govt actually encourages you to do so, and so do the accountants.
The whole point I was making was the “”"inefficiency”"” of Obama’s plan, and that without taxing the ”’middle class”’, he won’t accomplish anything he promises to.
That is the gist of my point, and McCain is telling the truth.
Obama will tax the middle class.
No country in the world has managed not to do so.
NONE.
also, last I checked, numerous things are qualified as business expense.
buying clothes, buying cars, traveling, eating, throwing party, buying a boat,
It’s basically the govt’s acknowledgement that taxing the rich is stupid, and it is also basically the govt’s attempt to force the rich to USE money, spend money, and ‘trickle’ it down to the workers who produces the goods and services.
IHBB, can I put in a suggestion here? That magical script really just needs to block out any post that mentions wjk.
Okay, so since I don’t have an economics degree, I’m wrong, even though I proved that you’re blowing smoke out your ass… Glad to know that you can still resort to rampant speculation in the face of overwhelming proof against your position. I guess I’ll be installing that wjk-block script as well now. Have fun playing with the noobs.
Wjk is just upset that Obama is more of a Christian than him. It makes his head spin.
Zonath @36,
As the owner of wjk’s ass, I’d say I control what comes out of his ass. Or what goes in for that matter.
Good to know… Can you get some actual facts to come out of his ass? That would be a true Halloween miracle.
Hey, I said I was the owner, not Jesus.
Well “zonath”, the real miracle today would be for many companies to pull a paying client out of their butt and I think that would be higher than water into oil.
The NY Times was talking about deflation today.
those who claim Obama’s redistribution plans are not Marxist have apparently not read his books, don’t understand Marxism vs. Capitalism, and/or have a problem with honesty…
Those like jdog who think tax cuts are handouts are apparently challenged likewise…
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