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If the tax cuts on dividends and capital gains are not extended or made permanent, they will expire in 2008. How do you see this affecting your portfolio, retirement or anything else in your life, if at all?

In my own case, we get a substantial part of our income from divs and CGs from taxable accounts. Our taxes would go up enough if the breaks expire to have a significant effect on our lifestyle. We would either have to cut back on stuff or take a higher draw from the portfolio to have the same after-tax income.

Most likely I would shift our holdings away from dividend-paying stocks to those that don't pay them and try for more CGs and less dividends, or something else, I just don't know right now.

If most of your income comes from retirement accounts or pensions, you won't be affected, nor if your income is low enough (15% bracket or lower). But for those who will feel the pinch, are you going to do anything to mitigate it?

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