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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. [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.
"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." [See a gallery of political caricatures.]
In a memo to clients, Clifton says that the date most clients are focused on is December 15th for a deal in Congress before beginning to sell. One reason: Many stock options expire that day and investors have to act.
"Friends and neighbors complain that taxes are indeed very heavy, and if those laid on by the government were the only ones we had to pay, we might the more easily discharge them; but we have many others, and much more grievous to some of us. We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly."- Benjamin Franklin
Poor, poor rich man. Hell, give the bastards another tax break so they can ship some more factories overseas. Yep, that's the Republican ticket.
Nobody is going to wait until 2011 to realize capital gains.
How big are your balls, President Pro Growth?
Delaying Tax Vote Could Crash Stock Market - Washington Whispers (usnews.com)
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.
"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." [See a gallery of political caricatures.]
In a memo to clients, Clifton says that the date most clients are focused on is December 15th for a deal in Congress before beginning to sell. One reason: Many stock options expire that day and investors have to act.
What a classic piece of misunderstanding. If people are selling an asset now because they believe the sale will be taxed more heavily in the future, the underlying price of the asset doesn't change. The stock market may or may not decline in the short term as a result, but the fundamental value of the market doesn't change.
This is the kind of ill-conceived logic one gets when such a large sector of your economy is based on the speculative trading of savings.
Poor, poor rich man. Hell, give the bastards another tax break so they can ship some more factories overseas. Yep, that's the Republican ticket.
Letting people keep more of their own money is not "giving" them anything, twit.
The House Democrats, over almost unanimous opposition of the GOP, passed a massive tax cut yesterday.
Nobody is going to wait until 2011 to realize capital gains.
How big are your balls, President Pro Growth?
Delaying Tax Vote Could Crash Stock Market - Washington Whispers (usnews.com)
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.
"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." [See a gallery of political caricatures.]
In a memo to clients, Clifton says that the date most clients are focused on is December 15th for a deal in Congress before beginning to sell. One reason: Many stock options expire that day and investors have to act.
Lefty Dimocrat Econ 101: The more money I have the less someone else has.
The House Democrats, over almost unanimous opposition of the GOP, passed a massive tax cut yesterday.
No, they agreed to not raise taxes on some Americans in the midst of economic downturn.
Poor, poor rich man. Hell, give the bastards another tax break so they can ship some more factories overseas. Yep, that's the Republican ticket.
Letting people keep more of their own money is not "giving" them anything, twit.
The House Democrats, over almost unanimous opposition of the GOP, passed a massive tax cut yesterday.
The House Democrats, over almost unanimous opposition of the GOP, passed a massive tax cut yesterday.
No, they agreed to not raise taxes on some Americans in the midst of economic downturn.
Poor, poor rich man. Hell, give the bastards another tax break so they can ship some more factories overseas. Yep, that's the Republican ticket.
Letting people keep more of their own money is not "giving" them anything, twit.
