Dow down 400 facts The typical explanation for Friday stock plummet the Dow Jones industrial average closed down a shocking 394 points the sharp bump up in the having black friday camera been fired rate, And the absolutely scalding $11 dollar pole vault in the money needed for crude oil to a new record high.
But wear be hoodwinked. The real root-cause of the panic black friday november is obama clinching of the Democratic nomination for president. To find this out, Programs to do is read Brett Arends personal finance column in Friday Wall Street Journal, An Obama Win Would Affect Your spending office. I wasn initially inclined to believe Arends affirmation which is not a political column, Providentially, Upon number, He seems fair. It a certain no brainer that an Obama obama administration would let Bush tax cuts expire. And as Arends implies, Obama has already acknowledged that he may be willing to raise the top rate on long term capital gains even more, To 28 regarding. The up to date capital gains tax rate is 15 percent. So what exactly am i saying? Cash in any big capital gains on stocks black friday sales on friday or mutual funds vendor end associated with the year. Drop! Switch for cash! Available! So that you are sitting on a huge profit in, Announced, Your Apple continue online sales black friday to keep, If the Democrats win in November you might cash it in before the end of the season. Ahead and and and then sell on on it says Benjamin Tobias, A fiscal planner in sugar plantation, Fla. The 15 portion tax, And put a happy face on the check to the IRS due to just paying 15 percent. Make sure, No one knows what you pay? So plainly, Visiting this column, Any u. S termed as its broker. Continue Friday.
Bear in mind, There one little issue with this thesis. If Hillary Clinton had clinched the best nomination, You could make pretty much very same argument, Although I don think she been pinned down on how high she will take the funding gains tax rate. So if you don't interest to make the case that Wall Street thinks Obama is the more formidable candidate for McCain than Clinton, Perhaps effectively better, Finally, To pay attention to record oil prices and growing stress in labor markets as the true reason for investor unease.
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