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|Subject: Re: Possible Sequestration, Dividend Taxation||Date: 5/13/2012 10:37 PM|
|Author: pauleckler||Number: 70661 of 74536|
Welcome RobbieVanB. We're glad you could join us.
I don't think there is an easy answer. Do you think Obama will be reelected? Will Republicans control the house and the senate? Or not? Will it be close? Or a landslide one way or the other?
If the Democrats take control, I think capital gains will go to 20% and millionaires will pay higher tax rates. If Republicans win in a landslide and get control of both houses of Congress the Bush tax cuts will be renewed and there may be even more tax cuts. (But how will they deal with the deficit?)
But more likely it will be a squeaker election with some changes on both sides of the aisle. That means two more years of gridlock and brinksmanship to pass meager changes.
So if you have large capital gains on paper, you might consider if you want to sell now and pay 15% or wait and pay more. But it may not be worth it as the rules will probably change again at the first opportunity.
Personally I don't have much confidence in the voters doing what they should. So I think the future is more gridlock.
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