Election’s Economic Results Will Foretell Nation’s Long-Term Political Future
With the two parties’ national conventions behind us, and the pre-election activities down to the debates and verbal hand-to-hand conflicts, the future of America’s economy will become the major product emanating from the November 6 voting booths. Unlike previous presidential election outcomes, which kept economic election results between the proverbial “30 yard lines,” the 2012 decision will result in two distinctly economically different approaches to the long-term direction the U.S. will take in the election’s aftermath.
President Barack Obama has made it quite clear that his ultimate objective will be the utilization of the White House leadership to push through its concept of wealth redistribution. This would be accomplished either through the normal legislative process or the broader usage of “executive orders” which seem to have become fairly commonplace in the past two years.
The emphasis of a second Obama presidential term would likely concentrate on tax increases for the top bracket, which would impact adjusted gross income of $200,000 for single filers or $250,000 for married couples. Among others, it would offset Sub-chapter S filers, which encompass much of the independent business leaders who include their business profits on their personal filing. This would increase their top exposure to 43.6% when considering the previous ceiling from 35% to 39.6%, plus the additional amount to further fund Obamacare.
Added to the bracket income tax increases would be the jump of dividend income from 15% to 43.6%, equating dividend yield stocks, which have been considered value-oriented to a “soak the rich” scheme, although most of these equities find their way to 401k’s and other middle class retirement portfolios. Also greatly broadened would be food stamps and other entitlements, under the guise of providing a safety net for welfare recipients that no longer have to make an effort to opt for workfare.
A Republican presidential victory, especially one that
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