News for Dude

N

NOVA

U. S. NAVY Veteran
For many of the wealthy, 2012 is becoming a good year to sell.

They're worried about the "fiscal cliff," which is when tax cuts expire and spending cuts are set to go into effect at the end of the year.

Fearing an increase in capital gains and dividend taxes, many of the rich are unloading stocks, businesses and homes before the end of the year.

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.

“Under almost any scenario, it makes sense to take the gains this year,” said Gregory Curtis, chairman and managing director of Greycourt & Co. “Clients aren’t selling willy nilly. But if they can and they have a huge gain, they’re selling now.”

http://www.cnbc.com/id/49792979

So get ready to buy big dude....
 
News for bravo, every year stocks take 10 to 20 percent dips. They end up doing twice as good under democrats. Loser
 
PostmodernProphet said:
we need more tax revenue.....how about taxing short term capital gains at three times the rate of ordinary income.....
Click to expand...

First we need to answer the question do we want to efficiently and equitably raise revenues so the gobblement can function and provide more freedom for the American people or do we want to use the tax code to socially re-engineer society?
 
Its clear that capitol gains are going up soon, this year would be a good time to take long standing gains and pay under the current rates, not next years rates.
 
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