What will that do to the market as people rush to the exits all at once to avoid the higher tax bill?
It will be worse than that. It will also take away some incentive to invest in the future long term. I'm not sure Obama realizes that over 60% of the middle class now has stock portfolios. Lets just tax the crap out of everything. It'll be fun!
Would you believe there are supposed traders right here on ET that proudly plan to vote for him any way?
I was reading Investor's Business Daily, this past monday, and the editorial was so bereft of substance that the author had to italisize and bold his own synopsis, and just to capture notice, he accused Obama of being anti-Isrealim as if the article didn't make you hate him, then calling him anti-Jewish surely would. Pity... Perhaps next, they will accuse him of wanting to reactive the Men In Black you know: http://www.sonypictures.com/homevideo/meninblackii/ remember the guy who took the job at the Post Office, and found himself amongst his former clients.... what was his name?
Rush to the exits and they would put their money where?? Raising the Cap Gains tax wont stop people from putting their money in the markets. He would not raise the cap gains tax to more then what a persons effective tax rate is anyway. It would not be greater then 28 % . The 15 % cap gains rate is only a benefit to the people in a tax bracket higher then 15% . Also that 15 % is for long term gains anyway .
"In the end, the e-mail's statements on the capital gains tax are more wrong than right; we rate it Barely True." As it relates to the sale of a home. How about stocks and other trading capital gains?
Create a once in a life time buying opportinity. If your young you want the market to fall gee wiz, buy low sell high ever heard of that? See now days the goverment and the fed want to hold to market higher and make everyone pay up, thats risky. The fed is so out of control, oil is going to $200.00 in the next 2 years just watch. They should let the market correct and play out ina natrual way the markets will get it right if the fed and goverment would just get out of the fucking way. They are creating inbalances that do more harm than good. They are idiots who only think about now now now now.
Bottom line is both HC and Obama will bump cap gains. That'll effect us Wags through the futures blend.