I'll start with my background and what I base my thoughts on. I grew up in a family that owned a car dealership. By growing in this environment I got to meet other small and large business owners. I went to college and first received a Marketing degree. When I entered the real world workforce In 2006 the economy was struggling and a marketing degree was basically just a piece of paper. I decided I needed to go back and get a degree with more substance so my second degree was accounting. I was pretty quickly able to get my CPA. With these credentials the job market was now easy to enter with companies fighting for you instead of me fighting with others for a job. I was lucky enough to find the girl of my dreams who has been able to find amazing work as a buyer in corporate retail. I have two brothers, one is a CPA like myself the other is a actuary for Liberty Mutual. I've talked to them and seen my brothers numbers for raised rates.

Ive looked at what the new taxes will do and who they will affect. Everyone should be prepared for the 2 percent tax hike starting with your first paycheck in 2013. This will cost you about $10 per $500 a paycheck. Depending on your tax bracket their will be other increases coming soon as well. To many different rates to type out. Healthcare will rise by about 23% for most salaried employees. For people who buy their health insurance independently the cost could go up by as much as 40%. For hourly employees in a non skilled trade expect your hours to be cut down to 29 or less. Companies simply will not be able to pay to employee you. They will have to cut hours so they don't get a 2k fine or pay for your health insurance. Expect to see many small businesses simply close their doors.

I would recommend looking at the plan you have currently and make sure it will meet the lowest amount required under Obamacare, to find out what your premiums will be. If you don't meet the minimum expect to be closer to 40% then 20%.

Some of this would have happened no matter who won the election. Some could have been prevented or reduced. Romney would have created a set of problems as well. Our country needs real change and a different plan then either candidate was providing. These are simply my educated guesses as to what will happen.

I expect more debt, slow recovery, high unemployment, more drone strikes, probably a war with Iran, probably another QE or two, stagnant wages, more government dependence. Sounds like a good time ahead.

PMoney, do you think Iran or Syria will happen first. I would pick Syria.

We already got change we can believe in. So I guess simple Utopia must be next.

I could see Syria happening first then going into Iran as our excuse will be, well Iran wants to help syria so we better attack them. In all honesty though, I do think we will probably be dragged into the Iran war by Israel.

We are just going to bomb the fuck out of Syria and arm the Al Qaeda there like we did in Libya. Then afterwards we will march some of our young people in there to police the place. Iran will be a full scale invasion and the dollar will collapse well before we suppress any resistance there (though that may take longer than 4 years).

The debt will be $22 trillion plus in 4 years. The official unemployment rate probably won't change too much, but millions more people will be out of work.

Police drones armed with cameras and machine guns will patrol over our homes and eavesdrop on all communications via phone or internet, sending that info to be processed for "national security" purposes.

Cleveland Buck;1315293 wrote:We are just going to bomb the **** out of Syria and arm the Al Qaeda there like we did in Libya. Then afterwards we will march some of our young people in there to police the place. Iran will be a full scale invasion and the dollar will collapse well before we suppress any resistance there (though that may take longer than 4 years).

The debt will be $22 trillion plus in 4 years. The official unemployment rate probably won't change too much, but millions more people will be out of work.

Police drones armed with cameras and machine guns will patrol over our homes and eavesdrop on all communications via phone or internet, sending that info to be processed for "national security" purposes.

Racist

Btw I don't think our foreign policy would be any different by electing either side.

sportchampps;1315307 wrote:Btw I don't think our foreign policy would be any different by electing either side.

Same here

I don't know but the market is loving Obama's victory. NOT.

DOW down 300 points.

sleeper;1315316 wrote:I don't know but the market is loving Obama's victory. NOT.

DOW down 300 points.

We're definitely off to a good start to Hope & Change II.

believer;1315433 wrote:We're definitely off to a good start to Hope & Change II.

Sorry, the GOP should send something better our way.

Zombaypirate;1315442 wrote:Sorry, the GOP should send something better our way.

I agree. In the meantime we get to endure 4 more years of Democratic ineptitude.

We'll see if Boehner and Obama stick to their current attitudes in regards to not fucking around and dealing with things. The next two months are huge because of the fiscal cliff. We cannot allow those tax increases and funding cuts to happen, 20% across the board would result in the same sort of things we're seeing in Greece and Spain and a couple of the other European nations with their austerity measures. It doesn't work if the goal is to get more people working and to decrease the amount of people in poverty. Neither side should let their extreme elements dick around with this.

sleeper;1315316 wrote:I don't know but the market is loving Obama's victory. NOT.

DOW down 300 points.

I wouldn't use the stock market as a barometric reading regarding the president. The fact is.....the market has risen about 55% over Obama's tenure. Compare and contrast that to to last guy in power....where his 8 year reign showed a 30/35% drop in the DOW.....not to mention the 50% drop in Amex/S&P.

Just another myth espoused by the GOPers that can be easily corrected with the use of a google button.

Insanity is doing the same thing over and over, and we elected the same formula, so expect them to kick the can down the road again. as far as the fiscal cliff goes.

Leopards don't change their spots so I expect more drone strikes, more ineffectual talking and threatening Iran with sanctions, until either the Iranians or the Israelis force him to do something presidential, in which case he will do the least risky move for him politically.

As far as business goes...purely anecdotal...but some of the professionals I know, and some of the small business guys I know are not planning to hire in the expected environment. The consensus is just to keep your head down....let your staff employee base dwindle thru attrition or layoffs, cut costs and downsize. One guy I know( had 6 employees)has in anticipation, let three people go...fired 1 and made it so difficult on the other two that they quit... brought his wife in and downsized by electing not to service his marginal clients. He figures that he'll keep below the $250K tax increase prosed by BHO...and not work so hard. ...not enough incentive to chase the extra dollars.

That said...I'd expect the unemployment rate to stay the same or rise....BHO's "new normal" , I guess.

" He figures that he'll keep below the $250K tax increase prosed by BHO...and not work so hard. ...not enough incentive to chase the extra dollars."

That's real smart isn't? For every $10k over the $250k he'd pay $3,900 instead of $3,600. A difference of $300 on the $10k. Not enough incentive?
Sheesh.

Footwedge;1315507 wrote:I wouldn't use the stock market as a barometric reading regarding the president. The fact is.....the market has risen about 55% over Obama's tenure. Compare and contrast that to to last guy in power....where his 8 year reign showed a 30/35% drop in the DOW.....not to mention the 50% drop in Amex/S&P.

Just another myth espoused by the GOPers that can be easily corrected with the use of a google button.

I wasn't using the stock market as a measure of success; but you are kidding yourself if investors weren't salivating over a Romney victory.

moldy...I'm not sure of his numbers...just casual conversatiion, but he implied for him to make more money, he'd also incur other costs of hiring extra people...paying insurance... SSI ..medicare. Maybe a matter of things adding up.

My office recently renewed our health insurance....and for renewal, the premium went from 46K to over 72K. We kept it to 60K by taking a lesser plan. I'm thinking that maybe staying under the 250K was just an added bonus. Remember also by shedding employees and hiring his wife he got rid of all the costs associated with the employees (salary/taxes/ insurance/unemployment/work Comp) and pushed his max family income to 250K instead of only 200K.Just speculating here.

Hits

I've been doing health care renewals for the past 25 years or so. They always seem to be high single digit % increases, usually more than twice the inflation rate. This year looks worse. But if the insurer doesn't pay out 80% of premiums in claims you should get a rebate back now.

And maybe I over simplified your friends situation. On the face it didn't make much sense to me.

Nice discussion with you on this and the other thread. I respect your opinion....just don't agree.

People want European-style socialism, and Obama has already given us the sort of economy that goes with it.

Just wait until the next recession hits and all hell breaks loose. Double the deficit again to $2T.

ccrunner609;1315541 wrote:I bet Obama tries to get a 3rd term.

I do also, he will have a stacked surpreme court, take away the second amendment

sportchampps;1315272 wrote:PMoney, do you think Iran or Syria will happen first. I would pick Syria.

He won't attack another nation of similar religious beliefs.

sportchampps;1315262 wrote:Ive looked at what the new taxes will do and who they will affect. Everyone should be prepared for the 2 percent tax hike starting with your first paycheck in 2013. This will cost you about $10 per $500 a paycheck. Depending on your tax bracket their will be other increases coming soon as well. To many different rates to type out. Healthcare will rise by about 23% for most salaried employees. For people who buy their health insurance independently the cost could go up by as much as 40%. For hourly employees in a non skilled trade expect your hours to be cut down to 29 or less. Companies simply will not be able to pay to employee you. They will have to cut hours so they don't get a 2k fine or pay for your health insurance. Expect to see many small businesses simply close their doors.

So the real employment rate will rise, common workers will be less employed via hours, the price of goods will rise to pay on the cost, and we will get to wait a few weeks to see a physician if we fill out the proper paperwork and belong to right organization in turn raising real health care cost in the long run.

sleeper;1315563 wrote:I wasn't using the stock market as a measure of success; but you are kidding yourself if investors weren't salivating over a Romney victory.

Why? Read your history book on presidential candidates and the performance of the stock market. Thinking a GOP pres equates/leads to a bullish market is a proven fallacy.