Well, that rally was short lived. Wall Street now seems to be reacting to Obama's proposed changes to capital gains tax laws. Increasing capital gains taxes will certainly hurt Wall Street. Why buy stocks that pay dividends if you will be taxed at your normal income tax rate rather than the current long term capital gains tax rate of 10-15%?
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Well, that rally was short lived. Wall Street now seems to be reacting to Obama's proposed changes to capital gains tax laws. Increasing capital gains taxes will certainly hurt Wall Street. Why buy stocks that pay dividends if you will be taxed at your normal income tax rate rather than the current long term capital gains tax rate of 10-15%?
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