Posted on 11/12/2012 5:23:35 PM PST by Innovative
Wealth advisors say that with capital-gains taxes potentially going to 25 percent from 15 percent, and other possible increases in the dividend tax, estate tax and other taxes, many clients are selling now to save millions in taxes.
If the Bush-era tax cuts expire, taxes on capital gains would revert back to its previous rate of 20 percent from its current 15 percent. Another 5 percent may be added from health-care levies and changes in itemized deductions, bringing the rate to 25 percent for many high earners.
Taxes on dividends could go from 15 percent to over 43 percent. And the estate tax could go from 35 percent on estates worth more than $5 million to 55 percent on estates over $1 million.
He also said that all this income-shifting could make revenues more volatile and unpredictable. It might also result in the government raising less than expected during the first year or two of the tax increase.
(Excerpt) Read more at cnbc.com ...
Happy Obama's second term!
consider the source, lying prevaricating cnbc
Gee! . . . who knew?
The comments made by liberals underneath this article are frightening. They are so ignorant! The guy who thinks returning to Clinto-era tax rates will reduce the deficit is a joke. You could tax all wealthy people at 100% of their income and it would just fund the government for a few days.
People just don’t go into the cattle cars willingly anymore, do they?
Dumped mine, made some dough in spite of taxes and was chastised by my Obamabot broker.
Elections do indeed have consequences!
Of those that earn $100 thousand dollars, or more, the total income is between $10 and $20 billion dollars.
Many lefties I have talked to honestly believe that the top 1% of the country earns trillions.
As I said, sheer ignorance. It will be hard on all of us, but I almost hope the whole house of cards collapses on Obama’s watch. And it just might.
I have a friend who is a brilliant investment banker. She liquidated all of her stocks, added security to her home, and bought a gun. Gun sales in the US have gone through the roof after elections. We can no longer trust anything or anyone in terms of government, media, or the financial markets. Brace yourselves friends.
I didn’t see the comments, where are they ?
You have to click on the article itself and read it at the original website and scroll down.
They passed out bread and jelly to get the Jews on the train, and Obama’s passing out the bread and jelly to anyone that will take it.
‘You don’t have to be a Weatherman to know which way the wind blows.’
our side has never called for the murder of 25 million die hard capitalists
My stock is currently at 50% of basis price. No point in selling. Defense stocks will have to make a huge recovery for any kind of capital gains hit.
oh oh oh...my favorite
‘no matter how the politicians spin it, the government needs more income to pay for the wants and needs demanded by the people’ LOL
What people learn from history is that people do not learn from history.
Stop if you’ve heard this before, but it’s my all time favorite and proving to be more true today...
“It should be known that at the beginning of a dynasty, taxation yields a large revenue from small assessments. At the end of the dynasty, taxation yields a small revenue from large assessments.”
‘Abd-ar-Rah.mân Abû Zayd ibn Khaldûn (1332-1406)
I think of it as a nice gift for my grandchildren in 20 yrs....
but gees...why keep it if dividends are going to be taxed so high..
I think of it as a nice gift for my grandchildren in 20 yrs....
but gees...why keep it if dividends are going to be taxed so high..
My terribly undervalued stock has been generating dividends this year. Better than a total loss.
Stocks don’t yield dividends in the Third World. Only bribes do...
“You could tax all wealthy people at 100% of their income and it would just fund the government for a few days.”
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Moreover it would cause them to cease operations that produce income and would result it a cataclysmic crash beyond the imagining of those who support such tax increases. I have long marveled that the same people who don’t want to work to support themselves but want to steal their living from those who are doing better than they are imagine that the people they want to rob will continue to happily produce more wealth which can be stolen. It is a stupid parasite that is willing to kill the host.
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