U.S. rich say they will spend less if Obama wins re-election

[dmcowen674]

10-3-2012

http://finance.yahoo.com/news/rich-us-well-spend-less-155302525.html

Rich in US: We'll Spend Less If Obama Wins



The latest Mendelsohn Affluent Barometer showed that 43 percent of the $250,000-plus earners would spend more if Romney is elected.



Only 18 percent of them would spend more if President Barack Obama is re-elected.


Call it a threat or a promise.



But a new poll shows that people earning at least $250,000 a year will spend more money if Mitt Romney wins the election.

 

[dmcowen674]

Yet another reason to get them all out of the U.S.

 

[feralkid]

Of course they'll spend more if Obama is re-elected.

In taxes.

 

[Tom]

57% will spend more or the same.

57% is more than 43%, so Obama wins, even with the rich.

 

[dmcowen674]

Of course they'll spend more if Obama is re-elected.

In taxes.

Good :thumbsup:

 

[dank69]

Top category of their spending: Vacations and travel.

So they will spread less of their money overseas? Sounds good to me.

 

[soulcougher73]

This is called scare tactics. They will continue to spend as little as possible to make as much as possible.

Everyone knows this.

 

[Throckmorton]

Wait, I thought spending was bad for the economy. Or is that only middle class people earning a living wage and spending? Yeah that's the bad one. Let's lay off government workers and outsource manufacturing jobs because clearly spending by those people is useless. And give the rich more tax cuts because their spending stimulates the economy.

 

[manimal]

uncertainty boogie man

 

[EagleKeeper]

Yet another reason to get them all out of the U.S.

So you do not want their spending circulating through the economy? Why?

 

[xBiffx]

Yet another reason to get them all out of the U.S.

So the rest of us can live in a 3rd world country like Chicago? I would love to see how you think you could survive without them.

 

[feralkid]

Good :thumbsup:

Agreed!

 

[Veliko]

So the rest of us can live in a 3rd world country like Chicago? I would love to see how you think you could survive without them.

They aren't going to go, though. It's about calling their bluff.

 

[xBiffx]

They aren't going to go, though. It's about calling their bluff.

I realize that. Its just crazies like McOwned wishing they would that cracks me up.

 

[EagleKeeper]

They aren't going to go, though. It's about calling their bluff.

Similar to all the Hollywood celebs that vowed to move to Canada if/when bush was reelected

 

[Munky]

Yet another reason to get them all out of the U.S.

How dare those rich bastards not spend more to support the lazy freeloaders. Don't they know that everyone is entitled to be rich? Equality for everyone, said the ignorant sheep.

 

[IAteYourMother]

Who cares? The super-rich generally participate in a different economy than the rest of us . Their money is already largely sequestered from circulating in our plebian economy, so one way or another much of that downturn in spending doesn't really affect us. If anything, spending will simply vary based on how the economy does, rather than being simply intrinsic to which candidate wins.

 

[Matt1970]

Yet another reason to get them all out of the U.S.

You can't possibly be that dumb. Then again, maybe you are. I wonder why you disappear for a few days at a time. Maybe you have to wait for someone to come turn your computer back on for you.

 

[Jpark]

I love how people hate on the $250 class... Most of the ones I know that makes that much has gotten off their lazy asses and made a living for themselves without mommy and daddy's help.

 

[Icepick]

Of course they'll spend more if Obama is re-elected.

In taxes.

Good. Those are the people who SHOULD pay more in taxes.

 

[Yreka]

You can't possibly be that dumb. Then again, maybe you are. I wonder why you disappear for a few days at a time. Maybe you have to wait for someone to come turn your computer back on for you.

Well he has a valid excuse this time

http://forums.anandtech.com/showthread.php?t=2273124

 

[PokerGuy]

If the president and his fellow idiots told you that you were the root of all evil and that the way forward for the country was to take your money away and hand it to freeloaders, wouldn't you be more careful about how you spent your money? I know I would.

Makes complete sense.

 

[Fanatical Meat]

They'll spend more under Romney because the already low tax rate (500K plus) earners will effectively get a tax break. Hence more money to spend. This is pure whining, does anyone think someone making more than 300k per year is tough enough/willing to take a standard of living decrease to make a point about an election. I say they'll talk about it but not act on it.

 

[PokerGuy]

This is pure whining, does anyone think someone making more than 300k per year is tough enough/willing to take a standard of living decrease to make a point about an election. I say they'll talk about it but not act on it.

They're not saying they are doing it to make a point about an election, they are saying they will spend less because they are less certain about the direction things will go and how those who are successful will be punished under another 4 year obummer regime. It's pretty much the same reason businesses are sitting on trillions of dollars. Completely logical.

When there is more uncertainty, the best policy is to be cautious and save.

 

[Icepick]

They'll spend more because the already low tax rate (500K plus) earners will effectively get a tax break. Hence more money to spend. This is pure whining, does anyone think someone making more than 300k per year is tough enough/willing to take a standard of living decrease to make a point about an election. I say they'll talk about it but not act on it.

This is the same as the idiots who threaten to move to Switzerland every year "if the Democrat" wins. Then, low and behold, when it comes to pass they never do. A-holes.