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Originally Posted by jwkniska
I knew that the speculators were the ones driving up the price, but until I heard the numbers today on CNBC, had no idea that those crooked, unregulated hedge fund operators bought more oil than China.
I wish they'd ban those guys from being in any publicly traded investment at all.... they're in it to line their own pockets and have no regard for anyone that puts up their $$ to invest in the hedge funds.... and absolutely no regard for anyone investing lawfully at all (like all of us with any of our retirement accounts in mutual funds.... which I hope don't all get a FORTY PERCENT reduction, which will happen if Obama gets elected... he thinks that capital gains are only a tax on the rich, instead of the working class).
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You're wrong- Obama's proposed increase on capital gains is from 15 percent to 20 percent, not to 40 percent. It took me exactly 90 seconds of Googling to find that out. I don't know where you get your news from. FOX, I'm presuming? I think where you are confused is his proposed raising of tax on dividends to 39.5 percent. Dividends are not the same thing as capital gains. I don't know of any middle-class people who live entirely on dividends. Plus, retirement accounts aren't taxed the same way regular dividends are. Raising the taxes on what is primarily an income source for the wealthy is not going to trash the middle class or retirees.
And these aren't new tax levels; they are pre-Dubya tax levels. Because Bush's tax cuts for the wealthy have worked out so well for the economy.
I can't even begin to deal with the "ban speculators" rant. Sure, everyone wants government out of their lives/business, and then they start yelling when people take advantage of gov't staying out of their lives/businesses.