Support NeoGAF

[maximum360]

That explains all.

/conversation

 

[tanod]

http://news.yahoo.com/s/ap/20081013/ap_on_el_pr/obama

Summary of new stuff in expanded plan:

- 90 day foreclosure moratorium for banks who take part in the Federal Bailout
- $3000 tax break for each new job a company creates through 2010
- Can withdraw 15% ($10,000) of retirement/IRA's without penalty through 2009
- Federal loans for state/local governments who need them to make payroll

These are all awesome ideas. Can I vote for him twice?

 

[KHarvey16]

Guys, both Obama and George Bush put on their pants ONE LEG AT A TIME.

BARAK OBAMA: MORE OF THE SAME

 

[Saint Gregory]

georgelucasrapeface.gif

I'm surprised I haven't seen the official GIF of this yet. That was the most uneven yet hilarious South Park I've seen in years.

 

[StoOgE]

I will say Obama's plan of $10k from retirement savings without the penalty is a lot more effective right now and needed than that silly RMD plan of McCain's.

Very much so.

The 10K dollar provision helps struggling families who are not at retirement age yet (under 59.5) by giving them access to some money short term.

Lifting the RMD requirement allows people who dont need their retirement money to leave it in the tax shelter until they need/want it which could be never.

1 of the plans helps people who ned money, 1 helps people who dont.

 

[JCreasy]

Choice bite . . .

The state of the McCain campaign is drawing fire from its own ostensible allies. At the head of the line of Republicans looking to be the first to flick dirt on McCain's grave is Bill Kristol, who says in today's New York Times, that if "the race continues over the next three weeks to be a conventional one, McCain is doomed." Since that's coming from a guy who, through his own bad advice, has contributed mightily to the grave McCain is measuring, it makes sense that he be given the first shovel of dirt.

But didn't Kristol get the message? Today, the key line of John McCain's rebooted stump speech is directed at his rival, Barack Obama, and it goes a little something like, "We have him right where we want him." That was the plan, all along, you see! Be down double digits in the polls, possessed of the necessity of campaigning in West Virginia, and in need of tempering your supporters' passions because they have suddenly veered wildly in the direction of psychosis. I love it when a plan comes together, even if that plan is only indicative of the fact that McCain's moved to the "denial" stage of grief. Brace yourself, because anger and depression are still to come!

http://www.huffingtonpost.com/2008/10/13/lashing-out-mccain-flack_n_134228.html

 

[StoOgE]

These are all awesome ideas. Can I vote for him twice?

ACORN can help you out with that.

Spoiler

I keed, I keed

 

[Tamanon]

The Obama stuff sounds good mostly, but I have to say I'm pretty opposed to letting people withdraw from retirement accounts without penalty. Times might be tough right now, but that money should be untouchable for the good of the person saving it.

a.) You'd be letting them divest when the market is near the bottom.
b.) You're letting fools be irresponsible. They may never pay themselves back and this will hurt them down the road when it's retirement time.

Eh, it's more about heading off the problems, keep in mind they'd be able to take that money out if they lost their jobs anyways, and they'd be able to use it for medical bills or if they're being foreclosed on. This allows people to head off some damage, especially since $10k isn't THAT much when it comes to retirement but can mean the world right now.

 

[VictimOfGrief]

No one is reaching. The Tax Policy Center has already evaluated the economic proposals of both candidates and McCain's would cost trillions more.

If you're going to vote based on who has a better economic plan, then you should vote for Obama. If you're going to bash Obama for additional spending, then you need to revoke your support for McCain first because his tax policy will cost at least a trillion dollars more.



I will feel better about this policy if we can get some more details.

Who says I'm voting for McCain? At this point based on everything I'm reading up to this election, I'm still not convinced that either one of them is worthy of my vote.

 

[terrene]

He's a moron and an asshole but he's great at what he does. He's like Anne Coulter with a refined smugness.

I don't even think he's great at what he does. He'll throw out some shitty hit piece and then squeamishly endorse the person/idea sometime later. Anne Coulter is on message just about 100% of the time and her fans love the shit out of her.

Hitchens is the Joe Lieberman of political columnists.

 

[Clevinger]

Choice bite . . .



http://www.huffingtonpost.com/2008/10/13/lashing-out-mccain-flack_n_134228.html

Wasn't it just a week ago that Kristol was encouraging McCain to attack Obama's character and bring up Wright and Ayers?

It's true, the man is wrong about everything.

 

[reilo]

“Don't give up hope. Be strong. Have courage. And fight,” McCain said. “Fight for a new direction for our country. Fight for what's right for America. Fight to clean up the mess of corruption, infighting and selfishness in Washington. Fight to get our economy out of the ditch and back in the lead... Stand up, stand up, stand up and fight. America is worth fighting for. Nothing is inevitable here. We never give up. We never quit. We never hide from history. We make history.”

So, uhm, vote Obama? Oh wait, everybody already is.

 

[StoOgE]

Eh, it's more about heading off the problems, keep in mind they'd be able to take that money out if they lost their jobs anyways, and they'd be able to use it for medical bills or if they're being foreclosed on. This allows people to head off some damage, especially since $10k isn't THAT much when it comes to retirement but can mean the world right now.

Plus, if it is a regular (non-roth) retirement account, they still pay income tax on it, just not the 10% penalty on top of the income tax, its not like you get the 10K completely free.

 

[Gruco]

At 3000 dollars all it really does is offset the payroll taxes for the first year for the jobs. Its not enough for companies to create jobs just for the tax cut, but it removes a hurdle to them creating the jobs. I think it is a smart move that could lead to jobs being created quicker than they otherwise might be.

State governments have used similar credits for a while, some of them are okay, some are complete disasters. There are two main problems 1) is that is can't control for companies that are growing already, and it ends up being a givaway that doesn't really impact behavior. 2) is that recapture provisions can either be weak or nonexistent, so that companies can manage payroll to cash in on the credit some years, without long term job growth.

#2 is a little easier to control, but in general, managing through tax incentives should almost always be met with extreme skepticism. There's almost no reason to belive it's a more effective subsidy than direct expenditure, but is is most definitely an effective back door to allow some really stupid shit.

This is frankly the most disappointing think I've heard out of the Obama administration since the no income tax for seniors making 50k or whatever.

 

[Tamanon]

Plus, if it is a regular (non-roth) retirement account, they still pay income tax on it, just not the 10% penalty on top of the income tax.

Exactly, so it's certainly not something that will cost the government money. In fact it might make the government more revenue early on!

 

[Jason's Ultimatum]

I don't get the 90 day foreclosure moratorium for banks. Is Obama talking about homeowners who have to make their mortgage payments getting a 90 day moratorium?

 

[reilo]

Reminder: Last day to register to vote in Oregon is October 14th.

 

[CharlieDigital]

Who says I'm voting for McCain? At this point based on everything I'm reading up to this election, I'm still not convinced that either one of them is worthy of my vote.

Go get yourself a Ron Pual/Babarr/whoever avatar instead and stop confusing me :lol

 

[giga]

Beautiful

Where did you get this?

http://www.politico.com/blogs/bensmith/1008/Acorn_pushes_back_hugs_McCain.html?showall

 

[StoOgE]

I don't get the 90 day foreclosure moratorium for banks. Is Obama talking about homeowners who have to make their mortgage payments getting a 90 day moratorium?

yeah, if you take federal bailout money, you cant forclose for 90 days on anyone.

 

[Saint Gregory]

I don't get the 90 day foreclosure moratorium for banks. Is Obama talking about homeowners who have to make their mortgage payments getting a 90 day moratorium?

I interpreted that as saying that for 90 days no banks will be able to foreclose on any homes to give the homeowners more time to negotiate.

Edit: What StoOgE said.

 

[VictimOfGrief]

Go get yourself a Ron Pual/Babarr/whoever avatar instead and stop confusing me :lol

 

[harSon]

http://news.yahoo.com/s/ap/20081013/ap_on_el_pr/obama

Summary of new stuff in expanded plan:

- 90 day foreclosure moratorium for banks who take part in the Federal Bailout
- $3000 tax break for each new job a company creates through 2010
- Can withdraw 15% ($10,000) of retirement/IRA's without penalty through 2009
- Federal loans for state/local governments who need them to make payroll

There are some solid plans in here, the ability to withdraw retirement funds without penalty in particular. Are there any downsides to allowing early withdrawing?

 

[platypotamus]

Plus, if it is a regular (non-roth) retirement account, they still pay income tax on it, just not the 10% penalty on top of the income tax, its not like you get the 10K completely free.

Which means that if a lot of folks take advantage of the plan, the government just raised a bunch of revenue without actually raising any taxes. Tricky and smart.

EDIT: Beaten

 

[Tamanon]

yeah, if you take federal bailout money, you cant forclose for 90 days on anyone.

Not quite, they still have to make a good-faith effort to make payments, they can't just ignore the mortgage for 3 months.

 

[Cauliflower of Love]

I don't get the 90 day foreclosure moratorium for banks. Is Obama talking about homeowners who have to make their mortgage payments getting a 90 day moratorium?

If your mortgage is with one of the banks that received bailout money, then he's asking for 3 months leeway for foreclosure.

 

[NetMapel]

While I'd love for tax cuts from the government, now is simply not the right time for it. What all future presidents should do is to use any remaining extra money to pay off debt. The interest from US government's debt alone is killing your economy.

 

[kitchenmotors]

Hank Williams singing at Palin's Rally is like nails on a chalk board. This is an embarrassing! :lol

Is this supposed to be the turn around?

Oh god, this is horrible.

 

[platypotamus]

Go get yourself a Ron Pual/Babarr/whoever avatar instead and stop confusing me :lol

I don't know, I think the combination of McCain plus the username VictimOfGrief is a pretty powerful image :lol

 

[StopMakingSense]

Man, slept in with the holiday, woke up to their gallups let them show them me.

Hot shit.

 

[Tamanon]

There are some solid plans in here, the ability to withdraw retirement funds without penalty in particular. Are there any downsides to allowing early withdrawing?

The reason it's not allowed normally is that it would allow more tax-dodging since you can lower your bracket one year and then withdraw later on at a lower rate. Also, it's meant to encourage people to budget around their retirement.

 

[maharg]

There are some solid plans in here, the ability to withdraw retirement funds without penalty in particular. Are there any downsides to allowing early withdrawing?

Means money pulled out of the stock market.

 

[harSon]

The Obama stuff sounds good mostly, but I have to say I'm pretty opposed to letting people withdraw from retirement accounts without penalty. Times might be tough right now, but that money should be untouchable for the good of the person saving it.

a.) You'd be letting them divest when the market is near the bottom.
b.) You're letting fools be irresponsible. They may never pay themselves back and this will hurt them down the road when it's retirement time.

Retirement is pretty useless. My mom is getting paid roughly $1300 a month, she would have had to get a second job regardless of being retirement if it weren't for my dads sizable salary. $10,000 is pretty insignificant.

 

[ironichaos]

The Obama stuff sounds good mostly, but I have to say I'm pretty opposed to letting people withdraw from retirement accounts without penalty. Times might be tough right now, but that money should be untouchable for the good of the person saving it.

a.) You'd be letting them divest when the market is near the bottom.
b.) You're letting fools be irresponsible. They may never pay themselves back and this will hurt them down the road when it's retirement time.

This! What a stupid idea, Obama.

 

[Macam]

I have no problem disenfranchising ex-felons. I think once you prove that you are no longer a member of society in good standing you should forfeit your right to vote. You broke the social contract, you pay the price.

Felons, yes; ex-felons, no. In Texas, if you're a convicted felon but have fully completed your sentence, you regain your right to vote. That strikes me as a rather sensible solution within reason. For example, I wouldn't have any qualms with subsequent felony charges permanently forbidding an ex-felon from regaining their right to vote, but in general, I think the Texas rule is fine.

It therefore seems to me that the Republican Party has invited not just defeat but discredit this year, and that both its nominees for the highest offices in the land should be decisively repudiated, along with any senators, congressmen, and governors who endorse them.

Barring the "surrender faction" nonsense, the above quote alone is worth the price of admission. Needless to say, I wholeheartedly agree on the above point.

 

[Saint Gregory]

Hank Williams singing at Palin's Rally is like nails on a chalk board. This is an embarrassing! :lol

Is this supposed to be the turn around?

Oh god, this is horrible.

Hank Williams? MNF is never going to be the same for me

This! What a stupid idea, Obama.

People struggling to pay bills this winter won't think it's so stupid.

 

[Cauliflower of Love]

Hank Williams singing at Palin's Rally is like nails on a chalk board. This is an embarrassing! :lol

Is this supposed to be the turn around?

Oh god, this is horrible.

Jesus Christ. Did he just get out of bed or something?

 

[saelz8]

Conservatives: McCain alienating base on economy

 

[Jason's Ultimatum]

Okay, I thought so.

BTW, I'm going out to lunch with my dad earlier and he likes listening to Limbaugh. I swear to god it's hard for me to say something, like telling him to change the GD radiostation, but GD it's like ad nauseam with this guy. He and his callers are saying how phony Democrats and their economic philosophies are. How you can keep a straight face when your own party has resulted in this economic mess over the past 8 years? :lol

 

[VictimOfGrief]

I don't know, I think the combination of McCain plus the username VictimOfGrief is a pretty powerful image :lol

Pretty awesome if you ask me.

Anyways.... McCain looks to extinguish any ideas to his new tax cuts.
http://www.politico.com/news/stories/1008/14508.html

On Sunday, hours before attending a big strategy meeting at McCain campaign headquarters, Sen. Lindsey Graham (R-S.C.) told Bob Schieffer on CBS’ “Face the Nation” that McCain was planning “a very comprehensive approach to jump-start the economy, by allowing capital to be formed easier in America by lowering taxes."

But when the meeting ended, so did plans for a new economy push. The campaign now says no new policy announcements are planned. Participants in the meeting refused to say what happened.

“We’re locked down,” said one official.

 

[kitchenmotors]

Jesus Christ. Did he just get out of bed or something?

I think he's drunk! :lol

 

[seat]

20 ways Obama is like Bush.
http://www.cnn.com/2008/POLITICS/10/13/wall.bush-obama/index.html?eref=rss_topstories

Reason #21)

Both Barack Obama and George W. Bush have penises. Clearly, an Obama presidency will be the same as a Bush presidency.

 

[Brannon]

Chuck Todd just lost some respect. Despite the movement he only changed a state or two from red to tossup. Obama is still at 264 EV on his board.

If it tricks people into voting, let him keep it close. VOTE BITCHES.

 

[Cauliflower of Love]

wtf cnn?

get your shit together.

Palin feed died. =/

 

[JCreasy]

http://www.politico.com/blogs/bensmith/1008/Acorn_pushes_back_hugs_McCain.html?showall

Sending to CNN and HuffPo now!

 

[Son of Godzilla]

I have no problem disenfranchising ex-felons. I think once you prove that you are no longer a member of society in good standing you should forfeit your right to vote. You broke the social contract, you pay the price.

Considering that a number of "crimes" are predicated on woefully outdated social mores, no. Seriously, turn in your fucking card. The system is broke, and you should pray you don't have to find that out for yourself.

 

[Saint Gregory]

wtf cnn?

get your shit together.

Palin feed died. =/

What happened? Did anyone catch when they cut off Bill Burton yesterdy just like what happened on Fox :lol

I was like "Is this guy wearing a signal jammer or something?"

 

[GrapeApes]

If it tricks people into voting, let him keep it close. VOTE BITCHES.

I agree. A close number is good. If he had a really low number people would feel like it's over for Obama and not bother voting. If he had an high number people wouldn't show up feeling we got this. Make it as close as you want. Make it close in states Obama is clearly winning, maybe McCain will want to spend some his dwindling money in that state.

 

[Soybean]

Retirement is pretty useless. My mom is getting paid roughly $1300 a month, she would have had to get a second job regardless of being retirement if it weren't for my dads sizable salary. $10,000 is pretty insignificant.

With compounded growth over years, though, $10,000 can grow to be a decent amount.

I'm not too up in arms about it, since it is only $10,000. It's the principle of the matter, though: I'm simply opposed to touching any retirement money, ever, until you actually retire. And you should absolutely be socking enough away to be a millionaire by the time you retire, because if you adhere to the recommended 4% withdrawal rate, you want enough to still live on.

 

[terrene]

Conservatives: McCain alienating base on economy

Go Maverick Go! :lol