Posted on 12/02/2010 6:22:10 PM PST by The Magical Mischief Tour
Failure by Congress to extend the Bush tax cuts, especially locking in the 15 percent capital gains tax rate, will spark a stock market sell off starting December 15 as investors move to lock in gains at a lower rate than the 20 percent it would jump to next year, warn analysts. [See who gets the most money from the financial industry.]
While it is unclear how bad the sell off could be, it could wipe out the year's gains, they warn.
(Excerpt) Read more at politics.usnews.com ...
Bush’s fault!
Time to buy a lot more gold and silver. Then again, metals will probably tank if they do extend the tax cuts. What to do?
Precariousness of the market is not a good sign.
...wouldn’t the new cap gains rate really be 20% plus that 3.8% kicker they slipped into the 2000 page Obamacare bill?
“they warn”.
who is “they” the people who live off of the market..blood suckers....
actually.. it just might be. if he had not agreed to the sunset we would not be here now would we?
(thats assuming they could have still been passed)
The stock market is like a manic-depressive psycho patient with unpredictable swings often based upon irrational fears.
What a goat cluster copulation it all has become.
These knuckleheads in Obamas circle have now idea what they are doing.
An even bigger hit could come on high dividend income producing stocks as the dividend tax rate increases from 15% to 39.6%.
Well we gave them billions of dollars of our money in the form of bailouts and now the tax monster they created is going to eat them.
Don’t know what to say about this.
Extending the Bush tax cuts as they are now for another two years is a win-win situation for both parties.
WTH is wrong with these democrat idiots.
Listening to idiot boy in the White House has made them a minority and will only led them downhill in 2012.
They are ready to cripple the stock market and cause a tax payer revolt because of the WH idiot and his battle to screw over the (white) rich man.
FWIW, I’ve already been taking some capital gains. No sense in trying to get out the door at the same time as everyone else.
My broker has also informed me that starting next year, you will no longer be able to choose WHICH stocks to sell, or to declare you have sold—those bought early or those bought late. You will have to give your broker a choice of LIFO or FIFO, and all sales will be either one or the other.
I’m not sure where that one comes from. Maybe from Obamacare? But I’m not sure that it will be reversed, even if the full Bush tax cuts are extended.
I think the market will tank when, and only when, the media can place the blame (rightly or wrongly) squarely on the Republicans.
Absolutely.
Too bad. My broker had a nice record of all the stock, acquisition dates and basis prices. I sold stock whose basis price was as close to the current trading price as possible to minimize taxable gain. I was really trying to recover principle as the share prices were dropping. All the sales resulted in a small loss, so no taxes. Currently, anything I might sell would be a guaranteed loss. Order isn't particularly relevant right now.
Indeed. This is nothing new, and folks ‘holding’ have been planning action all along.
As early as Q1.
Reeks of alarmism.
Does the statement support the Obamaloon simple-think agenda?
Then the statement is bull-Obama.
Smelly bull-Obama.
The statement indeed appears to support the loon’s agenda.
Ergo.......
Another charade by the govt.
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