Geral
Rodrigo Constantino
Para o leitor com acesso apenas à imprensa nacional, fica a nítida impressão de que o presidente Obama é um sujeito sério que tanta aprovar reformas duras, mas sofre a pressão populista e eleitoreira dos Republicanos, mais especificamente do Tea Party. Nada mais falso! A verdade é que Obama é o grande populista irresponsável, que só pensa nas eleições de 2012 e em seu modelo socializante no setor de saúde, mesmo que tais programas "sociais" sejam insustentáveis. Obama adoraria transformar os EUA na Europa, mesmo agora que ficou claro o que este modelo de welfare state pode causar de estrago na economia.
Segue abaixo parte do relatório do Banco JPMorgan sobre o "pacote" de Obama. Muita fanfarra na hora de anunciar o corte proposto de $ 4,4 trilhões no déficit fiscal, mas não passa de ilusionismo. Quase metade deste valor já era previsto e já estava programado, como no caso da retirada de tropas. Do restante, 75% vem de aumento de impostos! E, a despeito de toda a retórica populista de Obama, com o auxílio do cara-de-pau Warren Buffett, a verdade é que obviamente o aumento de imposto não será sobre os milionários, mas sim sobre a classe média (como sempre). Infelizmente, a imprensa brasileira, mesmo a mais séria, ainda não se deu conta de quem é Obama. A ficha ainda não caiu para o fato de que ele é apenas um demagogo esquerdista, nada mais.
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JPMorgan: A larger-than-expected deficit reduction plan could be bullish for US P/E multiples. At first read, the President’s proposal seemed to be exactly that: $4.4 trillion in deficit reduction over 10 years. However, two caveats. First, the $4.4 trillion headline number includes $1.2 trillion from spending caps already passed during Phase 1 of the Budget Control Act. Second, another $1.1 trillion is based on projected troop withdrawals, savings determined as much by circumstance and exogenous forces as by the Congress. As a result, tangible incremental proposed legislative changes amount to $2.1 trillion (not $4.4 trillion), 75% of which are tax increases rather than spending cuts; and only 10% of the overall deficit reduction plan is entitlement reform.
The details. The rhetoric behind the President’s proposed tax reform refers to raising taxes by $1.5 trillion on “millionaires and billionaires”. Upon closer review, “hundred-thousandaires” seems more accurate. The foundations of the President’s proposed reform are an end to the Bush tax cuts on taxpayers earning more than $200,000-$250,000 per year (which raises $800 billion over 10 years), and limitations on itemized deductions and exclusions applied to this same demographic (which raises $400 billion). […] raising taxes on income and reducing deductions will fall at least as hard, if not harder, on those earning $200k-$1 million as on those earning more than $1 million. Is this really what Buffett had in mind?
- The Amazing Obama Budget
Editorial do WSJ Federal budgets are by definition political documents, but even by that standard yesterday's White House proposal for fiscal year 2013 is a brilliant bit of misdirection. With the abracadabra of a tax increase on the wealthy and...
- The Buffett Alternative Tax
Editorial do WSJ Washington has repeated nearly every economic policy mistake of the 1930s in recent years, so why not repeat one of the bigger blunders of the 1960s too? We refer to President Obama's proposal yesterday for a new "Buffett Rule" to...
- Obama To Propose Tougher Tax Regime For Wealthy
By DAMIAN PALETTA and CAROL E. LEE, WSJ WASHINGTON -- The White House on Monday plans to launch an effort to prevent millionaires from paying lower tax rates than middle-class Americans as part of its package of ideas to reduce the federal deficit, two...
- The Latest Jobs Plan
Editorial do WSJ If President Obama's economic policies have had a signature flaw, it is the conceit that by pulling this or that policy lever, by spending more on this program or cutting that tax for a year, Washington can manipulate the $15 trillion...
- A Tea Party Triumph
Editorial do WSJ If a good political compromise is one that has something for everyone to hate, then last night's bipartisan debt-ceiling deal is a triumph. The bargain is nonetheless better than what seemed achievable in recent days, especially given...
Geral
O pacote de Obama
Rodrigo Constantino
Para o leitor com acesso apenas à imprensa nacional, fica a nítida impressão de que o presidente Obama é um sujeito sério que tanta aprovar reformas duras, mas sofre a pressão populista e eleitoreira dos Republicanos, mais especificamente do Tea Party. Nada mais falso! A verdade é que Obama é o grande populista irresponsável, que só pensa nas eleições de 2012 e em seu modelo socializante no setor de saúde, mesmo que tais programas "sociais" sejam insustentáveis. Obama adoraria transformar os EUA na Europa, mesmo agora que ficou claro o que este modelo de welfare state pode causar de estrago na economia.
Segue abaixo parte do relatório do Banco JPMorgan sobre o "pacote" de Obama. Muita fanfarra na hora de anunciar o corte proposto de $ 4,4 trilhões no déficit fiscal, mas não passa de ilusionismo. Quase metade deste valor já era previsto e já estava programado, como no caso da retirada de tropas. Do restante, 75% vem de aumento de impostos! E, a despeito de toda a retórica populista de Obama, com o auxílio do cara-de-pau Warren Buffett, a verdade é que obviamente o aumento de imposto não será sobre os milionários, mas sim sobre a classe média (como sempre). Infelizmente, a imprensa brasileira, mesmo a mais séria, ainda não se deu conta de quem é Obama. A ficha ainda não caiu para o fato de que ele é apenas um demagogo esquerdista, nada mais.
-
JPMorgan: A larger-than-expected deficit reduction plan could be bullish for US P/E multiples. At first read, the President’s proposal seemed to be exactly that: $4.4 trillion in deficit reduction over 10 years. However, two caveats. First, the $4.4 trillion headline number includes $1.2 trillion from spending caps already passed during Phase 1 of the Budget Control Act. Second, another $1.1 trillion is based on projected troop withdrawals, savings determined as much by circumstance and exogenous forces as by the Congress. As a result, tangible incremental proposed legislative changes amount to $2.1 trillion (not $4.4 trillion), 75% of which are tax increases rather than spending cuts; and only 10% of the overall deficit reduction plan is entitlement reform.
The details. The rhetoric behind the President’s proposed tax reform refers to raising taxes by $1.5 trillion on “millionaires and billionaires”. Upon closer review, “hundred-thousandaires” seems more accurate. The foundations of the President’s proposed reform are an end to the Bush tax cuts on taxpayers earning more than $200,000-$250,000 per year (which raises $800 billion over 10 years), and limitations on itemized deductions and exclusions applied to this same demographic (which raises $400 billion). […] raising taxes on income and reducing deductions will fall at least as hard, if not harder, on those earning $200k-$1 million as on those earning more than $1 million. Is this really what Buffett had in mind?
- The Amazing Obama Budget
Editorial do WSJ Federal budgets are by definition political documents, but even by that standard yesterday's White House proposal for fiscal year 2013 is a brilliant bit of misdirection. With the abracadabra of a tax increase on the wealthy and...
- The Buffett Alternative Tax
Editorial do WSJ Washington has repeated nearly every economic policy mistake of the 1930s in recent years, so why not repeat one of the bigger blunders of the 1960s too? We refer to President Obama's proposal yesterday for a new "Buffett Rule" to...
- Obama To Propose Tougher Tax Regime For Wealthy
By DAMIAN PALETTA and CAROL E. LEE, WSJ WASHINGTON -- The White House on Monday plans to launch an effort to prevent millionaires from paying lower tax rates than middle-class Americans as part of its package of ideas to reduce the federal deficit, two...
- The Latest Jobs Plan
Editorial do WSJ If President Obama's economic policies have had a signature flaw, it is the conceit that by pulling this or that policy lever, by spending more on this program or cutting that tax for a year, Washington can manipulate the $15 trillion...
- A Tea Party Triumph
Editorial do WSJ If a good political compromise is one that has something for everyone to hate, then last night's bipartisan debt-ceiling deal is a triumph. The bargain is nonetheless better than what seemed achievable in recent days, especially given...