Mega Bear Market Starting Monday: It’s Gonna Fall Pretty Hard Because Markets Are Ruled Right Now By Fear
October 20th, 2012
People Don’t Even Have Money For Mickey D’s, Taxmageddon Approaches, APPLE earning report due next Thursday, And A New Housing Boom Could Already Be Starting
Wealthy Advised to Sell for Gains Before Unfriendly 2013
That’s the message from some financial advisers, who are telling wealthy clients that the remainder of 2012 amounts to a last-chance sale on federal tax rates. Taxes are set to rise in January in the U.S., pushing the top rate on dividends to 43.4 percent from 15 percent and the top rate on capital gains to 23.8 percent from 15 percent.
Even if Congress averts the so-called fiscal cliff of tax increases on investments, income and estates, pressure to reduce budget deficits will mean higher taxes eventually, said Ron Florance of Wells Fargo & Co. (WFC)The answer is to take advantage of historically low rates and move taxable income and investment gains into this year, said Florance, managing director of investment strategy at the company’s private bank.