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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.
While it is unclear how bad the sell off could be, it could wipe out the year's gains, they warn.
"Capital gains tax rate will increase from 15 to 20 percent if the tax cuts are not extended. The last time the capital gains tax rate increased--on Jan. 1, 1987 from 20 to 28 percent--investors realized their gains at the lower tax rate," said Daniel Clifton at a Washington partner at Strategas Research Partners. "We would expect a similar effect this time around as investors see the tax rate going up and choose to realize their gains and incur the 15 percent tax."
Originally posted by gnosticquasar
Sounds to me like another article designed to show us how the rich are holding our country for ransom to get every dime they can. No tax break extension, no unemployment extension. Capital gains tax increase, we'll crash the stock market.
Originally posted by backinblack
reply to post by thewholepicture
They sorta make it sound like "Too Big To Fail"
And we know how that worked out !!
Short term pain for long term gain is the way it should be..
Do what is right for the future, not tomorrow...
Originally posted by asperetty
Originally posted by backinblack
reply to post by thewholepicture
They sorta make it sound like "Too Big To Fail"
And we know how that worked out !!
Short term pain for long term gain is the way it should be..
Do what is right for the future, not tomorrow...
That's the message they will put out in order to pass the legislation and to allow the country to run itself below ground with those few still making billions from it instead of losing billions. Controlled collapses people...allows the richer to make the most out of it so that during the inevitable restructuring they have the upper hand in everything. I'm afraid that anarchy is necessary, at least until we have no government.
Tomorrow is the future btw.