RE >>Unfortunately, the other kind of tax cut, and the one that might both make the most sense and help the market as well - capital gains - is the one that Bush failed to run on.<<<
SHIT
The last cap gains TAX cut is what started the sell off
in 98 ..cap gains is what keeps old money from running.
Not only did it precede the 98 sell off, it damm near
killed all the widow and orphan funds.
Nothing that has a tax advantage such as IRAs make any
sense if you don't have cap gains.
Cap gains is already so low that IRAs make very little
sense as you still have to pay TAX on them when you
get out and right now that TAX is more for me than
Cap gains is, I've stopped putting money in any IRA,
as that benefit is already crap.
I warned about the cap gains cut the last time but
no one listened..and that's why you can't find half
the muni funds today that where there before, they
got folded into other funds to hide the damage.
There is no free lunch Cap gains cut takes
from fixed income people and widow and orphans,
Not only that Cities find they can't get bond buyers
so what happens..they either shut down service or up
your Local and State TAXES.
There is no way to reduce taxes without reducing spending
FIRST , it's that damm simple. Try it and it's
nothing more than robbing peter to pay paul, and in the
long run will put the next generation so damm far in
debt that they become slaves.
Last as soon as you cut taxes without cutting spending
most other bonds will sell off , foreigners watch that like a hawk & will bail out if they get any idea
that GOV can't collect taxes enough to support
their bonds, the dollar will fall , & interest rates
will go up.
& All of that is fact of life.
I told every one in muni bonds to get out back in 98
and them that didn't lost their ass..
Another cap gains cut; shit; you can kiss this market good by for good there is no money reserve in stocks,
let old money run and this crap can go down worst than
anything you have ever seen.
Shit short term traders want to get rich fast and not pay
TAX..that will never work.
Cut Cap gains again and the stock market is dead meat.
Blim Blam and thank you maam it will dump it's ass
off, Munis will sell for 50cent on the dollar and
if you think this down trend has been hard, just
fling open the door for old money to run.
You aint seen a sell off yet cut cap gains again and
you've shot yourself in the foot unless you
already have several million in profits
and you want to get completely out.
Old money will pack their bags; buy a villa in
some cheap country and forget the market.
And I may just sell every thing I have & take
my marbles and join them while I still have time.
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Member 1421660
Jim |
