Billionaires differ on Obama

"A huge spending spree".... Trillion dollar Iraq war is the biggest spending spree in my lifetime. Sorry Mr. Icahn: I am not worried about people making $200,000/year paying more in taxes. It's their war - it's time to pay the piper.

I am surprised that any Billionaire would endorse Obama.

Warren Buffett, the billionaire with a heart, has far more credibility and judgment than Carl Icahn, who doesn't seem to understand that Obama believes you can't do anything unless you pay as you go with the needed funds in hand, gained from taxing people who have gotten the most from our economy and are well off by any meaure and by inevitably having to cut some spending programs as well.

I'll go with Obama, rather than the wrecked economy that Icahn decribes, which actually already exists at the moment. (Inflation? Look at the price of gasoline, milk, bread, even seeds to grow vegetables.)

Give us some cred for intelligence!

That's right, because the dollar is very strong now and there's no inflation currently.

I have a pretty good understanding of economics, but I fail to see how letting a tax cut for people making over $200k would lead to a loss of confidence in the dollar. If I made over $200k a year, I would gladly pay more taxes than people with less income. There are things to be done in this country other than hoarding one's wealth. Carl Icahn sounds more Republican than Democrat, why is he even paying attention to the Democratic nominee?

"You would have a loss of confidence in the dollar,'' Hmmm.... has he noticed the very substantial devaluation of the dollar during the Bush presidency?

The Buffett/Ichan comments on Obama were too short and general to be useful to anyone.

Icahn sounds like a fool. "He would probably go on a spending spree," what evidence is there for that? Secondly, letting the tax cuts on on incomes over $200,000 expire wouldn't sink the dollar, it would strengthen it due to increased confidence in being able to pay down the national debt and stop running deficits. Certainly job #1 for Obama on the economy should be to balance the budget, which is exactly what Obama has campaigned on doing. Icahn's comments are nothing but uninformed knee-jerk nonsense.

Unfortunately, I think Wall Street likes the war. that's probably what Icahn is scared of.... Ending the war. Greedy bastards.

Maybe BO could just call Icahn for advise when he gets into office. I'm sure that the economy would run perfectly then.

Buffett is one of the very few honest Billionaires in America. what Icahn was REALLY saying is: I don't think Obama really understands MY economics. Obama would probably go on a huge spending spree, unlike our ReBorglican brethren of the past 8 years.
will someone please rescue poor Icahn, because he might have to start paying taxes now. LOL Pathetic "Patriot" he is.

Mr Icahn, give out some of your billions to charity, then you can talk all the trash you want. While we are at this, do you have any defense contracts? and how much money did you make from the market on september 12th 01?

Big Business, Big Oil, Big Billionaires. Great, as long as we have their opinions then we don't need the ignorant voters....

does dubya understand economics ? do we really think it's even necessary for the president to truly understand the deep science behind economics as long as he has friends (cabinet members) who do ? Obama went to Harvard. He must know some people who can help him out on economic policy...

So, if we are successful, make something of ourselves, and thus make more money by getting somewhere with our careers, we should pay more than those who didn't?

And, who says that it is the rich people's war anyway? I seem to of missed the news articles backing that up.

Even though I disagree w/ the war, I feel that Barack's plan for the economy would drive this country into more trama. He wants to be a welfare state giving too much money to social programs. Where will this money come from - higher taxes for the American people. We are already paying too much. It will be like living under Jimmy Carter all over again - He was the worst president.

Your not worried about people making $200,000 a year? They are the ones that hire you. Have you ever received a job from a poor person ? Why is it okay to punish the rich just becuase they have earned their money ?

"Icahn said..." Who? I've never even heard of this guy.

LM is right. Icahn is a dolt. It is the Republicans who have been on a "spending spree." If you are going to spend a trillion dollars then you should have the spine to raise the money. It is time for some fiscal responsibility in the White House. Obama will bring sanity back. Buffett can see it, why can't Icahn?

Ok - I know who Warren Buffet is but who the Hell is this Icahn dude and why the Hell should anyone listen to him? He seems to be the one that has a loose grip not only on economics but also the whole of society in America right now.

Hmm... Republicans who fret about a Democrat "wrecking the economy".

Have they bought a gallon of gas lately? Had to refinance a house? Gone through a supermarket checkout line with a cart-full of groceries?

The current administration has weakened the dollar, put our children in debt, increased terrorism, put us all in harm's way economically, politically and from a national security perspective.

I think Democrats are often corrupt and often semi-competent, but any Democrat would be better than the "worst President ever" and his hug-buddy McCain.

folks, just try and remember 9-11.

lets all get together with their likes and tell them that killing innocent Americans with airplanes and such is not a nice thing to do. We are all brothers on this big ball and we should jut kiss and make up.

lets all confine ourselves to our shores and build big fences north and south.

get real folks, the war in Irag is nothing compared if we run and hide like a ltttle mouse.

get a life you Democrats and just wake up. Maybe you are too young to remember 9-11.

Sad day in America where love of country is for us older folks.

shame on you mr.Icahn.you are suggesting biggest spending spree if obama is the winner,it is a bull we have allready spending spree in this adm.economics 101
mr.so put your garbege theory for your self and your republican party.this time is different.change is caming.go obama,viva obama.......

I agree with LM, you can't have a more useless spending spree than the last few years. Besides, Obama had good enough advisors to nix the suspended gas tax craze touted by the other candidates. He also took a very moderate approach to health insurance. He's already outdone both opponents on his economics 101. Furthermore, McCain? Economics? Probably has some pennies buried under his mattress.

Wow Carl, have you not noticed that the dollar is hovering at an all time low? And as for inflation, surely the hedonics meisters can come up with more ways to hide it from us.

Thank you LM. Billionaire Carl Icahn is only thinking of his investment funds and hedge funds. Let us remind him what Abraham Lincoln said, "You cannot fool all the people all the time"!

indeed. people like mr icahn would make the u.s. pass on this unique opportunity to have a new and visonary leader, restore the american image in the world, and stop living a life of dreams based on irresponsible over-spending. does mr icahn understand economics? or simply grandiose business based on insensitive greed.

Icahn apparently has his eyes open, in contrast to those Obama followers who refuse to see his weaknesses and inexperience but love his well-written speeches and his charm....qualities that do not a president make.

And who exactly does this Icahn support, Hillary? Yeah, that gas tax holiday idea really shows she has a handle on economics.

//sarcasm

Its their war? what planet are you living on LM?

How is it people who make more than $200,000 a year's war?

Has Carl Icahn has been in a coma the last 7 years? The Republicans and George W Bush have spent this country into debt with no plans to pay for anything except pass the bill to the unborn. Obviously Carl Icahn no longer has a grip on reality.

Icahn obviously has issues with the democrats versus tax breaks for the rich. If he thinks the current administration hasn't gone on a huge spending spree, he should be mentally evaluated to check his sanity. The spending needs to be reduced and put in the right places. Icahn isn't talking business, he's talking politics.

One of the eighties takeover pirates whining that the tide is shifting under him. You can't control the ocean, dude. Get your head around it.

Yes, we Icahn? :)
And why would Icahn be pro-Obama? - His wealth was created in oil, his main current holdings include tobacco and pharmaceutical companies... need we say me? :)))

What an amazing coincidence -- Mr. Icahn, a heavy oil industry investor -- doesn't like the person who wants to end the war in Iraq and try to change our approach to energy.

Hey, I know -- let's figure out a way to re-elect George W. Bush and make Carl Icahn the Energy Secretary. As a follow-up, we can bring Genghis Kahn back to life and make him head of Health and Human Services. :D

I guess Carl Icahn does not feel that he has enough money yet. Maybe he is invested in Haliburton?

to LM - "it's their war"? what a ridiculous thing to say. Whatever you feel about the war, as Americans, it's a problem for all of us. Why is it that people who take more risks and happen to be rewarded for their work "owe" the government so much more of their income? Do you realize that small business owners quite often are in this "wealthy" category, but actually get to take home no where near that much profit? It used to be that making a legacy to leave to you family was a good thing, not something that was fair game for the government to confiscate.

Let them eat cake!

His comments belie his fear that he will not be able to continue to build on his astronimcal wealth and make everyone else poorer as fast has he has been doing it during Bush. It is obvious he is counting on McCain to continue the same Bush policies that have led to the greatest concentration of wealth in the fewest individuals since just before the great depression.

You want more of the same, vote McCain.

My vote is for Senator Obama.

AMEN to LM's post! How about a spending spree for health care, education, etc. using the $!2 BILLION a month being squandered in Iraq?.

Ditto.

Amen, LM.

What's to wreck?

People making $200,000 a year are not rich nor is the Iraq war their choice. In California with the high cost of living $200,000 a year is upper middle class which is a long way from rich. I think the Tax policies should go after people like Ted Kennedy whose off shore fortune his father left him he "borrows" against avoiding any tax liability. While he is avoiding taxes he votes for higher taxes for the rest of us! We don't have a revenue problem we have a spending issue and I include the Iraq War in that equation. The runaway spending in Washington is completely out of control and we need to find a way to place limits on government spending or we will go bankrupt. You know things are bad when the Chinese feel sorry for us and the mess we are now in.

Carl Icahn is interested in one thing - Carl Icahn. Whoever gets elected maybe they'll put the country ahead of their own short term goals.

I don't think Obama understands economics or taxation (at least not based upon his own statements), nor does he understand people or discrimination. I'm very concerned about his lack of judgement when it comes to his words. He is simply not presidential material.

Icahn was in New York? and who is the senator of New York? stop fooling the public! you cant Imagine United States without lobbists to shove more dollars on you!. How can Obama go on "huge spending spree" without thinking about the future of this Nation? How much have the Government spent on Iraq?. Do you know how much is our National debt? well, here we go, its 9,381,965,059,967.47 and dont forget the debt has been growing by 1.58 billion per day since september- 28 -2007. So, cut the crap Bush has been on a spending spree you never raised a finger. By the way Obama will reduce the National debt dramatically.

The Carl Icahn's of the material world (the world they are systematically destroying) need to journey someplace other than to their caves of greed and power and try to understand there is an other world of "the true, the good, and the beautiful" It is the place we all need to visit....SOON.

Bob Manley

Carl Icahn has found it would be difficult to "manipulate","influence", or "corrupt" a Obama Presidency. Don't be panic, Carl Icahn, You can run to China (do not forget to take the 3 Clintons with you) to trade, to deal, to exercise your power with them, just leave us alone, thank you.

...and the last 8 years was thrift spending????

"You would have a loss of confidence in the dollar,''

HUH??? How can you possibly have lower confidence in the Dollar than what Bush and the republican controled (19 out of last 20 years) has given us.

Of course he would say this, he is one of the richest men in the world and as an investor, one of the most prominent beneficiaries of the cap gains tax cuts.

Good thing the US went more into debt to give this guy more BILLIONS. While average americans struggle with the cost of a gallon of milk, not to mention gas.

Funny if this is even a topic of news - Do I care who the billionaires endorse? It's a resounding NO. No disrespect meant, but my concerns and life concerns differ so much with the billionaires that it's like someone from China telling me they prefer one candidate over another. Do I care about that? Again, a big NO.

The main media really is running out of news stories.

Warren Buffett uses a specific system to look at companies he wishes to acquire and investments he wishes to make. The system is comprised of determining the durable competitive advantage of a company, including the width of the "moat" protecting the castle. He sees something in Obama worth investing in. I trust his judgment much more than any of the pundits or anyone who comes out of Washington or the news media. Carl Icahn doesn't have half the smarts of Warren Buffett and is obviously delusionally wrapped up in the "big spending liberals" ideology passed on by such luminaries as Rupert Murdoch, Rush Limbaugh and Karl Rove. Mr Icahn, I assume you are aware of the record spending, secrecy and anti-American behavior of this administration. Thank you for letting us all know that you blindly support the continuation of this regime and it's policies. Furthermore, now that you are on record using words to describe Obama's upcoming presidency like "terrible", the media will be able to rub your nose in that prediction while America spends the next 8 years healing it's wounds and restoring it's integrity. Again, Buffett will prove why he, and not Icahn, is the best investor to ever live by again making a shrewd decision that he can proudly stand by. I'm sure that for Mr. Icahn this will produce yet another situation where he is left scratching his head wondering why Buffett is right so often. I think Mr. Icahn would be well-served to support Obama because he is the only one of the two who will probably reject the idea of sending Mr. Icahn's cohorts--Bush and his cronies--up on war crimes charges in the interest of moving on. I don't think Senator Clinton will be so forgiving. Goodbye Republicans! Don't let the tax-break lapse hit you in the conscience on your way out!

I second that, LM! Hear! Hear!

I agree LM, well put...

To say that this war is the responsibility of everyone who makes over $200,000/year is naive. I agree with you that the Iraq War is a big waste of tax payer money and has subsequently lined the pockets of a handful of powerful people, but let's put the blame where it belongs -- on Bush and his minions, not on Americans who happen to make more than 'X' dollars in a year.

Icahn is an idiot, he's tied to the republican corruption machine, and has made billions as a result. Of course he's not going to like Obama. Warren B., on the other hand is extremely inteligent, and made his Billions with his keen acumen, not sleeping with Bush & Co.

amazing how well that koolaid tastes.
the 200k+ crowd passes their costs on bunkie. When Grandmaw is dumpsterdiving for diner remeber that "tme rich people tax"

For a Billionaire to make such remarks as Mr Icahn...is blunt ignorance...i dont know what part of the planet he lives on....but the last 8 years have been the most "expensive spending spree" in the history of this nation.I need not say more.

you're and idiot. Just because you make over $200 thousand a year doesn't mean its "your war".

"Yes, Virgina, there is a class was and ordinary people are losing it." - Bill Moyers

Buffet needs brain surgery.

oboma will spend a trillion on useless people-pleasing "make everyone like me" stuff on top of the trillion he is forced to spend on the war since he cant pull out the troops. Thats why he would be sucky as a president - his economic as well as his foreign policy is naive.

Have anyone seens the video on Tube re how Obama would almost get rid of the military and weapons, our defense? Sounds like what the Osama would love.

To "LM"...I couldn't agree more! Ditto! Actually, the "negative points" about the past eight (8) years could go on and on and on.....
Sg

"...loss of confidence in the dollar"...? How could he lose something that doesn't exist? Let me guess, Icahn voted for Bush.

As badly as Bush has damaged the dollar, nothing Obama can do could possibly make it worse. Showing an iota of fiscal responsibility- like ending irresponsible tax cuts and seriously tackling the deficit and debt- can only strengthen the dollar. Try looking beyond your own wallet, Icahn. My generation was proud to begin paying down the debt until Bush screwed it up.

seriously

Mr. Icahn is not in touch with reality...

This country need change. I think we have to start to rethink our ways. The problem is not that he cannot handle the economy; most people who are not conformable with someone from another race to lead are giving stupid and naive excuses. This guy was the president of Harvard law review, he is so smart with numbers that Hillary could not understand and totally confused. Obama is mixed meaning he got the best of both races. He got leadership skills.

It's no surprise that Mr. Corporate does not like Obama who will fight for the little people. That the press give Icahn's garbage some real estate - now, that is a surprise.

I absolutly agree, keep exploting shady trade deals, from Bad policy. Of course the super wealthy without consience will start screaming, it directly affects there wealth. I think that is simple logic. Absolutly most of the super wealthy will vote for McCain, that is easy logic also. Time to poney up mr 17% tax bracket.

Amen to you LM.

Excuse me but both Mc Cain and Clinton have economic woes due to mismanagement of their campaigns. McCain lost nearly all of his money and his staff before the campaign even got off the ground. Clinton is in the hole 20-30 million even after loaning herself 11. If they can't deal with the millions in their elections, how can they be trusted to manage billions? Obama is ahead financially and has no debt. I would say that is a good starting indicator of sound money management.

It's Billionaires like Icahn that create such a mess and then expect the poor to clean up after him. What he is really trying to say is that he wouldn't care who ran for presidential office as long he/she is not Black. That's what he wanted say. The ideal of Obama going on a spending spree with American currency is absurd statement for Icahn to make. It depics one's character of saying that Obama is a typical AA and he would spend american dollars trival, material possession instead of helping our economy.

I agree. Be prepared for high interest rates and inflation.

"You would have a loss of confidence in the dollar..."

Ummm; most of the world has lost confidence in the dollar, and is preferring the Euro. But then again if Carl Ichan was that brilliant he would not have financed his investments with Michael Milkin junk bonds which left him poorer than he was.

Seriously? Can anyone really spend more than George W Bush has in the last 8 years on nothing?

$750 BILLION a year on NOTHING. When it's all said and done, Iraq will have a government that may be more radical than the one we destroyed.

When we're out of Iraq, Obama can spend $500 BILLION on anything he wants and still save the taxpayers money. I voted for Bush twice, but I won't make that mistake a third time in McCain.

UI

Why should +200k wage earners get a break? You should pay the same taxes as anyone else. Loss of confidence in the dollar is occurring because of the ridiculous war on terror. Terrorism is everywhere and always will be. You have to manage it - short term by monitoring within your borders and abroad, long term by building a global community and strong relationships with foreign nations. Not by ignoring the global community, invading countries and wasting a trillion dollars.

Icahn just senses that a larger tax bill is heading his way under the next president. GOOD. You SHOULD pay it and then be thankful that you were able to make your wealth within this great nation in the first place. I suggest you donate the same again to a charity that provides aid to the worlds very poor and are doing the only real work to reduce the threat of future terrorism.

Obama is just talk... Actions speak louder, we do not Need another Jimmy Carter.

And you think George Bush understands Economics? That's a laugh! Our country has never been more in debt! We've lost respect globally and the dollar is at the lowest it has been in decades!

Taking the economic impact of an Obama presidency off of the table, the guy is a terrible leader. He is all for "change" but what if it is a change for the worse?? Which I believe it will be. He has no real-world experience at running anything. So we give him the keys to the country to run it into the ground? Note: I am not questioning his sincerity, I am questioning his ability.

For Mr. Icahn to be worried about Mr. Obama spending too much, I'm stunned and flabberghasted. You mean to tell me he prefers more than a billion dollars a day to be spent on a war in Iraq vs. investing in a solution to war that doesn't require ammunition, or the education of our country's youth, or investing in a progressive transportation infrastructure that will help Americans become less dependent on oil, or helping to reduce health care and insurance costs, or, or, or...don't make me go on! Is it me, or is Icahn's statement woefully irresponsible for a billionnaire?

It does not matter whose war it is, if Obama were to the President, he will inherit the war and I totally agree with Mr Icahn, Obama does not seem to know about economics and at the critical time, his presidency is going to be a disaster!!!

And the average person in America had no voice in the war "effort" please.

What a transparent, idiotic sentiment. This BILLIONAIRE is more concerned with his own wealth than he is with the issues that affect the other 99.999% of Americans. It's time for a president that doesn't cater exclusively to people like him, as opposed to what we've had for the past eight ears.

After Bush emptied out the bank... there aint no STINKING MONEY LEFT

i love u obama

$4.00 a gallon gas!!!!! I am being stuck up and robbed and they don't even need a gun. Will somebody tell me when this is going to be a problem for someone else besides me???

News flash to Mr. Icahn.... anybody home??? We ALREADY have a President who went on a huge spending spree AND there's already been a loss of confidence in the dollar!
President Obama will fix this by reinstating taxes on the wealthiest 2% of Americans, it's the economy all over again, stupid!

I totally agree with Icahn. Additionally, raising the capital gains tax will destroy the US stock market. The market is still trying to survive the aftermath of the subprime crisis. You think you have problems now? If the capital gains rate goes up and the market crashes, say goodbye to your 401K. Think it won't affect you? When the stock market falls, layoffs come quickly in the hundreds of thousands. Obama is a great speaker, but he'll send us into another depression.

I agree with LM...our tax money is spent on the war instead of wefare of the people..this war only makes the rich people more richer..why we have to have war in the name of peace..

Mr. Iahn needs to straight up his own economics. He invested money in moto and in returned how much did he get???? You need mental help Mr. Icahn.

Bush has spent money like a drunken frat boy (that he used to be). Icahn is about as self-serving as they get. I think he is the one who doesn't understand economics.

#1 you are right, the only ones benefiting from this war are those making money from it. Icahn obviously is a smart guy to be so rich, so I'm sure by saying something like that he has his motives. And I think it's nice for a billionaire like Buffet to support a democrat, even though republicans are generally better for the rich guys (at the expense of everyone else).

Who cares what people with billions think? They are financially so far above the average American that it's hard to take what they say serious. They just two stupid people with lots of luck and money. Both are capable of putting bowling alleys in thier outhouses and both have little to offer or care little what happens to our nations. The only resason Icahn is nervous is because Obama may actually cut the strings to his money making machine a.k.a. Iraqi Freedom, while the rest of poor smucks get $600 per adult which barely paid this months fuel bill. I say that Icahn's statement is a good reason to Vote For Obama!

Mr. Icahn has no understanding of how we got here and who got us here.
Icahn likes are getting our enemies richer, gas was $24 when W & Icahn likes took over. We also have more leftist govenments in Latin America since W & Icahn likes took over. Emplument is higher at the USD printing plants.
Do you have to be smart to becoem rich?
IQ anywhere?

I agree, for such a "smart" guy, Obama has marxist views that will drive this country in the exact wrong direction. By the way, the Iraq war is nothing compared to boondoggle we created with Ethanol and E85 ... the subsidies of those alone exceeds the total cost of the war and isn't sustainable ... and look what it did to the price of groceries (putting corn into the tank) ...even more painful than the cost of gas (per month).

oh come on, you know the Iraq war was to protect us from Afgan terrorists.

But at least now we are talking about an exit strategy...through Iran.

LM, I second that!

This war or events directly or indirectly related to it seems to jack up the price of oil even further just about every time I turn on NPR. If Obama is smart enough to surround himself with SMART PEOPLE (I believe he is), then we can whether this storm. People like Noam Chomsky and Warren Buffett ought to actually be cabinet members, or be consulted regularly at the very least. We can't afford to lose our middle class here, as Buffett has said in the past - if that happens, this country will surely implode (as if it isn't in the first throes already), and we won't have the luxury to argue L vs. R politics anymore. Let's come together, Americans! We can do this!

^agreed

I would trust Buffet's opinion over any other billionaires. He is by far the most ethical and honest out their.

And so people like LM start the demise of our country. Gotta stop them. That kind of thinking is not American. Simply daily fluctuations in the stock market account for more money on the economy than the war. And also where does US War money go? Maybe back to American companies selling guns and making airplanes? Your philosophies are more in line with the second-fiddle-superstars known as Canadians.

AMEN, LM!! Get over it, Mr. Icahn. I'm sure you'll find some sympathy amongst the other 1% who own the majority of the wealth of this country. I'm sure the roof over your head and the dinner on your table haven't felt a thing. You won't find any sympathy from the majority of us who are paying out the nose (and from the kitchen table) to fund Bush's contrived war for oil money.

Stupid Ichan, go try and save yahoo. Yahoo you can't even manage but now you have gots to pass judgement. Shame on you

Icahn's the kind of man who made his money and wants to keep it. He didn't become known as a "ruthless corporate raider" who banked on Milliken's junk bonds for nothing. Buffett actually backs the estate tax and sees no reason why rich people like himself should make off like bandits, when middle class people dutifully pay their taxes.

Icahn is also a neo-con who supported Bush-Cheney in 2004 and Hillary this time around. I don't think his economic thinking can be trusted, nor should billionaires be seen as any authority on the economy, but I'd take a mild-mannered Wizard of Omaha Buffett over the Wall Street tycoon.

Icahn is worrying about people making more than $200,000, we can see where his loyalty is...but of course what else would a selfish billionaire think about than losing some of his money. We should listen to Warren Buffet and Bloomberg especially Warren Buffet who has pledged to give away all his money and have given away billions to help poor people. If Obama plan is to divert the billions of dollars from the war in Irag to help the poor and the middle class to get health insurance and the basics of life: affordable food and tuition fees then it is the best plan. His plan to reduce our dependency on oil and make this place a better place by talking to our friends as well as our enemies will once again restore USA to as the greatest nation on earth.

It is more about their bottomline for the billioners like Icahn. It does not matter whhat you spend monney on. When trilions are spent on war it is OK, but not OK if it insuring the needy ones. What a stark choice and disrespect for the humans! Obama is the best choice this country have !

Ooooh, more taxes.. Highter inflation.. Look around Carl Icahn, gas is at $4 and people around the world are dying cause they can't afford basic staples and your claiming INFLATION?

"I don't normally get involved in politics, but this time I am,'' , yea we see why..

Something also tells me not to trust Obama, call it a gut feeling, I do not know, but as a loyal democrat I just will not go with him, may just sit this election out if Senator Clinton is not the nominee! Don't want to be responsible for Obama mistakes or same ole Bush stuff by McCain.

Who's war is it? Is it a war for the rich, or maybe the poor? No, it is a war for America. American soldiers, sailors, marines, and airmen are over there fighting not for the rich, but for all of us.

A lot of money does not automatically make you smart about everything else! Typically, the voters who are as dumb as Obama will support him and have no idea of how much of a disaster he will create. His health bill alone is a $660 billion dollar bill...guess who pays the bill for that program? Not the big wage earners, its everyone in the country that pays taxes. That means you and me. And that bill is only the beginning if he gets into office. He thinks money comes from Heaven and has not the faintest idea of how economics works. At the trillion dollar level you need good judgment and experience to run that budget and to manage the largest country in the world. WAKE UP AMERICA! WHEN THINGS GET TOUGH, HE WILL SELL THE COUNTRY TO ISLAM AS HE STATED IN HIS BOOK!

It's more like he's support who ever going to be dem candidate. This article title is missing leading. How much did the writer get paid? or does the writter differ obama him/herself.

No LM, it is bullsh*t that people making over 200,000 have to pay for other people. The richest 10% of the US pays over 90% of the tax we face. It's not fair that someone who is a dumbass working at McDonalds gets away with paying jack sh*t when someone who works and provides more than a basic service pays there taxes. Poor people suck, they are the scum of the earth they are the biggest waste of space and good for nothing but scrubbing shit.

Obama is a retard and I can't wait till his last day comes, McCain 08.

Icahn may be a billionaire, but he's no genius, obviously.

"their war?" Let me ask you this, how do you heat your home and drive your car? This is OUR war. Radical Muslims want to hold the world's greatest energy supply hostage and force the west to live by the Koran, and you think this is just a war for the rich? Open your F$%#*^n eyes and look at the big picture.

So Icahn likes McCain, who is fine with keeping us in Iraq for a hundred years and racking up trillions of dollars of debt while creating additional security problems we will have to pay even more for later....but he is against Obama, whom he "suspects" will go on an undefined "spending spree"?

And he doesn't think Obama knows enough about the economy, when McCain has admitted on multiple occasions that he doesn't know anything about economics!??!

Sounds like Mr. Icahn has a hidden agenda, or is sadly losing his mind....Buffet is more successful anyway, I'm pretty sure he knows what he's talking about.

It is presumptuous of you to conclude that the war belongs to "people making $200,000/year" - they had no more choice about the Iraq war than you did.

I Like it, straight forward reporting not taking sides.
Otis T

I really don't think Obama will go on a spending spree like Bush. Obama will definitely surround himself with the cream of the crops on economy. He knows all eyes are focused on him and I believe he will do his best not to disappoint the nation. The rich "put" Bush there in 2000 & 2004. See where he has led the nation into. Lets us all give Obama our full support and be ready to guide him if need be.

I think Icahn should step down from where he's seating and understand that there is already a loss of confidence in the Dollar and that prices have been going up everywhere else. That's what happens when you invade other countries, post troops everywhere and spend billion of dollars every week.

What I am worried about is McCain appetite for war; that's what will generate incredible spending, death, destruction, hatred and misery from the Middle East to here.

Yeah. Hate to say it, but if you're making THAT MUCH MONEY a year, then you can afford to pay YOUR FAIR SHARE of the taxes. I wouldn't if I was making THAT MUCH!

"It's their war"...

LM - You're typical of todays liberal, progressive, socialist democrat.

Enjoy your freedom. You make me sick.

Icahn 'thinks' Obama doesn't understand economics. So who does he support? McCain? McCain himself has admitted he doesn't understand economics! see http://krugman.blogs.nytimes.com/2008/01/22/can-this-be-true/ or google "mccain understand economics to find the quote. Icahn needs to do a little more research before he goes around sticking his billions in his mouth.

Carl Icahn , fix your yahoo problem before your open your mouth. If you don't know politics , do not get involved.

Wow, Mr. Icahn. You are really out of touch with the average American. Most of us won't earn .01% of your worth this year; and you have the audacity to complain to us about how your quality of life will be affected if Obama is elected. The question is how will OUR quality of life be affected if he isn't. Maybe Mr. Buffet knows something that you don't. I mean, he is #1 in wealth in the world. Maybe we should listen to him.

Yikes ! Bush has been on a non-stop spending spree not only the war in Iraq,
but cutting revenues at the same time including providing tax credits to the oil companies. Meanwile, our local governments are forced to layoff teachers police and fireman to maintain the most basic services. Shame on you Carl!.

I personally don't get the sense that Obama will go on a spending spree either. However, dollars will need to be placed in programs to make the changes he is advocating i.e. climate/global warming, jobs, a "real" home security plan, infrastructure changes (moving off of oil) we shouldn't be spending so much money on wars - our country needs serious repair.

Dare I ask....how can you wreck THIS economy?

Well said... I do not see how Obama could spend more than Bush.... Bush will leave him nothing too spend.

I agree...........I really can't relate to the perspective of billionaires. I'll bet that none of their children are in Iraq.....I bet that investors are nervous about Obama, he's the only one actually stating that the economic melt down was partially cause by the deregulation of the investments industry.

O.K., I am trying to follow Mr. Icahn's reasoning, but with the current administration's policy, which Mr. McCain appears to be preparing to continue, we have had a precipitous fall in the dollar. It appears that a change in policy might be wise. Regarding the spending spree, it again appears that Mr. Bush has led this country on a massive spending spree without regards to the budget effects in the form of an unfunded war in Iraq. Seems like there was a budget Surplus when the Democrats last held the White House. And those tax increases for the top brackets? Again, might just help reduce the ever-widening difference between the wealthiest and the poorest in the nation. And perhaps restore some semblance of a balanced budget. But then again, what would I know? Like in Fiddler, when you are rich they think you really know.

You missed the point LM. Compounding the huge financial losses of the Iraq war with additional financial losses will get us no where and political posturing that speaks to some concept of "fairness" but results in a loss of GDP is lunacy. After all it is the basis of GDP that predicts government tax revenues and any economist will tell you that raising taxes lowers GDP. As for the idea that somehow this Iraq business is the idea of people making over $200,000 please remember that it is those people who pay for such bad ideas, more than the rest. What you really like LM, is the pledge from Obama that he is going to take some rich guy's money and give it to you. Robin Hood lived in a forest a long time ago. Your man Obama lives in a cave.

Agreed. If there is anyone who can actually save a depressed economy it is the rich people. Redistributing wealth throughout the economy, rather than keeping it horded in the hands of a few billionaires, could make us much more solvent as a nation. CEOs make 200-500 times what their average workers make and, in many cases, pay less in taxes.

"Icahn said, arguing that Obama would probably go on a "huge spending spree'' that "the country can't afford right now.''

Is this guy serious? Where did he get his credentials and where has he been for the last 8 years? If he is so worried about our economy, where was he when Bush got us in this mess? I have to remind you Mr. Icahn, Obama didn't get us into this mess.. Bush did...

Obama wants to end the war & trash the Bush tax cuts for the rich plan. That doesn't sound like a spending spree to me.. Obviously this guy doesn't know what he's talking about.

Dear LM-

It's NOT our war who make over $200K. There are plenty of the wealthy who HATE this war, so your reasoning is faulty!

JW

It's whoes war LM? People making more then $200K? I am sorry but that has to be about the most ignorant statement I've heard someone make in defense of Obama, and I've heard several.

Mr. Icahn's statements are based on Mr. Obama's propsed economic plans, and many economists agree that Mr. Obama just doesn't get it when it comes to economics. The spending spree Mr. Icahn refers to is not the war, which even it's huge expense is nothing compared to the cost of domestic programs.

We can always pass the hat for Mr. Ichan

Hmmm. "Huge spending spree" and "loss of confidence in the dollar" sound like the status quo for the last 8 years.

Warren Buffett has made his career by building companies and employment.

Carl Icahn has made his by tearing companies apart, sucking them dry and spitting the empty hulks in the gutter, along with their former employees.

Whose judgment counts more with me? The one who hasn't shown himself to be a craven, parasitical, Bush-loving leech.

So mr.Icahn happen to be talking about a spending spree now. Since the the election of George Bush and his friends,this country is deep debt, and he's been spending money like pouring it through a funnel!

Well, besides the people that make 200,000 or more (less than 5% of pop.) that pay more than 75% of the federal budget, every single other person below them (which i think is probably you LM) are going to start feeling the tax roll back in a worse way then the people that are going to be directly effected. Maybe in a little while you will start to understand capitolism and why EVERY other country is trying to move to this sort of model for their country, and moving away from the communist/marxist/socialist type of government that you would love. Warren Buffet is only supporting Obama because it is "in" to not like Bush. I would bet a lot of money that says on the ballot he is going to do the smart thing and vote conservative. PS the Iraq war (besides spreading democracy in a totalitarianistic region, saving countless innocent mass grave murder victims etc...) saved every single (over 100mil) person that invests in their retirement or stock market, and for that matter the entire rest of the population that relies on the stability of that.

Isn't Icahn the same idiot who is pushing to bring the Microsoft-Yahoo merger back to life? Talk about not understanding economics.

I would bet that LM May has a huge "LOSER" complex. Probably has the word written across his or her forehead. I guess when you are a loser you gain the virwpoint that all those that worked hard, studied , took business risks and succeeded should be penalized for their efforts. Hey, just because you failed and can't pay your own way doesn't make it right to lay additional tax burden on those that worked to get ahead. I guess you must have been told about the failed theories of Carl Marx. I'm sure you weren't capable of reading about them. Hey maybe they can come up with some new social program so you can get free refills for your crack pipe.

If Obama has a fault its that he's too honest. This is going to make a lot of people very unhappy. Prepare to wipe that billion dollar smile off your face Mr. Icahn.

If you are making more than $200K a year, you should pay more taxes! Out with the Republicans, in with the Democrats; either candidate would do a terrific job, much better than what we have had to endure for the past 8 years!

It's time the rich man started to pay his way instead of the middle class and poor having to make up for their tax breaks and stupidity! Mr. Ichon: I know you rich folk don't like it but a flat tax for everyone is the only fair way to go. I am tired of having to do with less so people like yourself can have more. You already have to much!Your wealth doesn't make you any better than anybody else on the face of this planet!

why are all these billionares endorsing these candidates.........
shouldnt the Democratic candidates be representing the working people of America????????????????

The Bush years have probably been very very good to Icahn. I can imagine a "change" candidate isn't his thing. From the NY Times Thursday, May 22, 2008:M

LEAD: A Federal bankruptcy judge ruled yesterday that Carl C. Icahn, Texaco's largest shareholder, cannot send his version of a bankruptcy reorganization plan for Texaco to other shareholders for their consideration.

A Federal bankruptcy judge ruled yesterday that Carl C. Icahn, Texaco's largest shareholder, cannot send his version of a bankruptcy reorganization plan for Texaco to other shareholders for their consideration.

loss in the dollar..is this idiot kidding the dollar is worthless..that is why oil is at 135 a barrel..oil is pegged to the dollar..over 3 trillion added to our national debt in the last 7 years.

LM i think you need to take an economics class. it's everyones war whether we supported it or not, we all have to pay for it. removing the tax cuts for the people making 200k would only help the economy and fix some of the huge problems that our idiot president has created. leaving them in place is going to do nothing positive except for make the wealthy more wealthy.

"It's their war - it's time to pay the piper." HUH? Did all of the high income earners in the country sit in session and vote to give the president the authority to go to war? No. Congress did.

Sounds like you're in favor of redistribution of wealth. Let's see, a single person makes $200,000 a year they pay 33% in taxes. That's $66,000 a year and that doesn't include what they pay into social security and medicare. The person that makes $66,000 a year pays 25% = $16,500 plus their share of SS and medicare. Seems to me that the person that makes me already pays more. Plus, the person who makes more likely employs other people.

Here's an idea....let's have a fair tax where everyone pays the same flat percentage, say 10%. So, the $200,000 income earner pays $20,000 and the $66,000 income earner pays $6,600. And lets do away with the tax loopholes.

And if you don't think both Obama and Hillary woudn't go on a spending spree and raise everyone's taxes to pay for all of their social programs, you'd better think again.

I would have to go along with Warren Buffet on this one.

As far as Carl Icahn is concerned he is obviously not well-informed and needs to get with it very quickly.

Isn't it amazing how ignorant a lot of Americans are about their own country and what is really happening or not happening, as the case may be.

America is ripe for change and Barrack Obama is the right choice for President of the United States of America.

2 mr.icahn,
and ur comments on how much bush or the other contenders understand the same?!

Mr. Icahn loves the trillion dollar war but hates spending a few billion to get universal health coverage. He thinks that will hurt the economy. I think he is out there thinking only for himself. I am sure he has good health coverage.

I guess Mr. Icahn is a Faux News regular. He has never heard about the record government spending during this Bush administration. Oh, that's right; it's to keep us safe. Safe, schmafe! An Obama presidency would be a huge step for the US and a small penance to pay the world for the unforgivable and destructive last eight years.

I'd worrie about the Chemtrails
and the children, women, and families.
money is the root of all evil
Revelation
Bahama Kin

LM,
It isnot your money! How can you talk about taking that money from people? I don't make $200k per year, but I would like to some day. Would you be OK with your neighbor walking in to your home and taking your cash, or your valuables? Why is it OK for IRS agents and the Feds to go to your bank and employer and steal your money? In 1776 we started a war with Britain over 2% in taxes. Now you pay 50% tax on your phone bill, 17% tax on Social security and Medicare (no matter how much you make), 20+% tax on the gas you put in your car, and between 10 and 33% on the income you make. Is that fair? Is it right for the ARMED government to come in and steal your money and mine? WAKE UP YOU IDIOT.

What he really means is that Barack Obama would be a terrible president... for people like him (which is what, less than 1% of the population?). This is a bunch of malarkey from a man who wants to keep every penny in his unnecessarily large fortune.

I think the rich should pay more taxes and help pay for the war. Washington alway look out for the rich. Its the 200,00 a year house holes that get hurt the most.

He doesn't understand economics ? I think he undestands if not more just as much as Hillary and Mcain. He has achieved so much in a very short period of time, what you call your personal achievement pales in comparison. On the other hand Buffet whom i respect deeply has the moral, and the ethical compass not to mention human nature, and he has a good window from which to judge, whether it be the economy or taxes or other issues as it relates to the candidates. In short he has CREDIBILITY. Obama is not just a candidate, "He is the CANDIDATE"

Hmmm, let's see, let's see if Obama can do a better job than Bush & Cheney (remember him?) of "wrecking" the economy. Ultimately, we'll need a president that can invest in the American people instead of the unfounded Iraq war and Oil Companies. Ask any American on the street why we're fighting in Iraq, they will tell you "We're protecting our freedom." In actuality, we're less protected from a major terrorist threat, no sign of Bin Laden AND we have less "financial" freedom with high gas prices. How much did that cost us? +$3,000,000,000 and +4,000 U.S. soldiers + thousands of IRAQI civilians.

"I don't think Obama really understands economics." Translation: Obama doesn't agree with my personal economic philosophy, and his ideas may end up costing billionaires like me a few extra dollars.
In case Mr. Icahn hasn't noticed, loss of confidence in the dollar has already occurred, and tax cuts for people making more than $200,000 have not helped stem that tide.

We must remember that Warren Buffett has made lots of money for lots of folks, and did it over several administrations, Democrat & republican.
Carl Icahn, on the other hand, has made a lot of money for Carl Icahn during the same period, but with a "me first, the Hell with everybody else" attitude.
Icahn is looking out for Old #1.
The President can do precious little without an okay from Congress.
Regardless of your feelings about the war, Congress DID authorize it.....and this is the same Congress votes Pork Barrel......"me first......"
Okay, so Bush "mis-spoke" (Hilliary's phrase) about the intelligence. Wonder if Congress was dodging bullets, too?
While I'm at it, might as well jab McCain. John McCain is NOT a "war hero" as some say. No, John McCain is a veteran of the Vietnam War who happened to have been held as a POW. The real heroes of that conflict are listed on the Wall.
Lots of difference between "veteran" and "hero".

"A huge spending spree".... Trillion dollar Iraq war is the biggest spending spree in my lifetime. Sorry Mr. Icahn: I am not worried about people making $200,000/year paying more in taxes. It's their war - it's time to pay the piper. Posted by LM May"

A trillion over 5 years for the war versus a trillion per year for Obama's programs, come on. Wake up, Obama expects the top 5% of earners in the US to pay their fare share. Top 5% starts at $72,000 per year, oh yea i forget you expect the government to take care of you versus making it on your own.
The only hope Obama offers, and any other liberal is a larger welfare state, more taxes, more government..... sorry I'll take capitalism over socialism any day.

The Oracle has spoken. Obama is his choice for President!!!!! As far as reckless spending spree, well, George Bush and the Republican Congress did that for the past 8 years. Republicans have not acted as the conservatives they claim to be, and as a result the economy is in dire straits. The Republican anwer has been, no government, no protection to the public, and the invisible hand will magically work for the good of the country. That's only possible when the invisible hand understands grandma is going to freeze this coming winter because her fixed income can barely pay for her meds. Mr. Buffet and Mayor Bloomberg would be great advisors to President Obama, as would be Union Leaders, and Consumer Advocates. I saw the Oil Excecutives being question in Congress today. There was plenty of talk, and yet no action. It seems they told Congress they're in charge, and you the representatives of the people can't make us do anything about it. Can we drill in Alaska now? I say sure, but you won't be doing it, lets break you up, let's renegotiate the national resource you guys worked behind closed doors with Bush, and lets make sure that oil stays in the USA. It is America's Oil afterall, why would we trust them? They'll sell it to China, and keep us poor. The oil companies and OPEC are only faithful to their bottom line, not the people of our Country :(

I do not like this country to be spending over 700 billion dollars a day in Iraq. There are numerious projects in America that could be addressed with those funds. Senator Obma is like most every other Democrat. They try to create class warfare. I think it is great that a person is able to earn over 200 thousand dollars a year. Why should they be penalized?
I too agree that Senator Obama does not understand basic economics. He is a politician, and will do most any and all things to garner votes. He is frightened to make the hard decisions.

"Trillion dollar" war? The Iraq war cost about $100 Billion a year, I certainly agree that this is too much. But this is no where close to the figures that Obama's plans will cost.

A trillion dollars may be the biggest in your lifetime so far but that could easily change if Obama is elected ... as far as taxing people making 200k a year ... your right you need not feel sorry for them but what about the folks who make 30k a year having thier taxes increased to pay for the additional people who will become unemployed when his economic policies chase the rest of our jobs overseas.

Mc Cain can easily beat Obama. If you want a Democratic President then you better vote for Hillary. She has the best chance to win. I think everyone agrees that we need a Domacratic President.

I guess Mr. Icahn must have lived in Planet in Mars or perhaps just awaken from a brain surgery in the last seven years. This is an administration that took a surplus and turned it into the biggest spending spree in U.S. history, big government, trillions and trillions of dollars in debt.

Warren is synonmous with "CREDIBILITY" at least in my dictionary. Icahn, who ? the guy with a lots of money !!

I agree with Icahn.. Some of us work very hard for our higher salaries and if anyone understands the tax system, we (those making over 200K per year) pay for 2/3rds of the taxes collected by our IRS. We also make up the top 2% of the population. So, yes, it does bother me that we pay such a large part of the tax burden, but it also bothers me that Obama and Clinton have been thought of as options to lead our country when they have NO experience on real issues such the war or the economy.

I wonder who Icahn is supporting? McCain is quoted on multiple occassions as saying,"he doesn't understand the economy as well as he should," or "doesn't really understand economics," or "I'm going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated." Great. So, if not Obama, and obviously not McCain, who does Icahn suggest we Americans support??

i bet everyone who agrees with LM are the same people that re-elected bush after his first term....

LM - You hit that right. Don't worry, Icahn is a corporate raider, with ties to Michael Milkin's junk bonds. He's currently trying to destroy yahoo. The guy is one of those soulless no class financiers. Look into his "Philanthropy" and you find a lot of buildings and projects named after himself. He might as well change his name to Monte Burns.

Buffet, OTOH, is a class act all the way. Wiki them both and decide which person you think has more insight. The world's richest man who made his fortune by building up, or the 46th richest man who made his fortune by breaking down.

I think I'll remain a Buffet fan.

I get so disgusted with people like Icahn making judgements on what's better for this country. Carl is one more contributor in America's near ruin due to corporate greed and irresponsibility. Political opinions of the far upper class are the last insights common people should consider. Where is the class struggle and the guillotine?

What's good for the billionaires of this world is rarely good for the rest of us. If anything their opinion should highlight who we should stay away from. I notice Mr. Icahn didn't give an opinion on who he would prefer and why that person would be better, and Mr. Buffet didn't give us a reason why he likes Obama, or whether his preference is based on economic issues at all. A rather uninformative article on the whole. You might have simply posted the opinions of two random people for what its worth.

Gotta agree with LM. Look what Bush did to the US economy, let alone the world economy. Ultimately Bush's decisions put the US in their current mess. He could've used the 3 trillion surplus to support the economy, instead he blew it on a tax break for the rich.

If Mr. Icahn feels that way about Sen. Obama, how does he feel about Sen. McCain who ADMITTED (several times) that he doesn't understand economics? Mr. Icahn must be planning to sit at home this November.

Then again, Mr. Icahn has also apparently been living in a cave and thus must've missed the new that international players already have lost confidence in the dollar as Pres. Bush lets it slide further and further....

The concept that spending on our infrastructure that is crumbling, helathcare that is spiraling out of reach of an increasing number of Americans is bad economics is plain ridiiculous. Especially when viewed against the backdrop of the current administration which has run up record deficits funding a war that has helped terrorists recruit new members whilst bringing America near bankruptcy. This is also the administration that pushed through tax reform that allows the top 5% who are rich to pay half the rate of tax of the rest.
I will pay more tax under Barrack than McCain or Bush and I am happy to do so. As an American icon, I suggest Carl Icahn should be happy to do what is right so that all Americans have the chance to live the American Dream he enjoys.

Geoff

Our below inflation interest rates, unnecessary war and financial deceit are causing a loss of confidence in the dollar. Raising interest rates and lowering our national debt are the two steps that will improve international support for the dollar the most. Fixing the situation in Iraq and the middle east in general will also support America's standing in the international community. I can't see what Carl Icahn is talking about.

do you really think the tax hike will only be on people making $200,000

Yes, Mr. Icahn knows economics. He knows the economics of wealthy people - not the economics of common people. As long as budget and tax help rich people it's OK. The trillion $ Iraq war is OK to Mr Icahn because it's helping wealthy people. Obama's