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Old 10-09-2008, 01:09 PM
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Is the market worried about an Obama Victory???

I suspect the market is reacting negatively to an Obama victory! People are selling off their entire portfolio's in anticipation of a negative tax policy on investments!

Senator Obama's favoring a higher corporate tax, higher tax on dividends and a higher capital gains tax does not presage strong confidence from astute investors!

Foreign investors I suspect are pulling out of US stocks and doing at the speed of light! Hence one of these days we will see a 1,000 pt drop! Market panic will not abate until next year! Worse to come in my humble opinion!

Increasing taxes in a recession! My goodness! I wonder who Obama's economics teacher was in college!

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Old 10-13-2008, 10:24 AM
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The market turmoil has nothing to do with Sen Obama or Sen McCain's Tax Policy. The market is simply too pre-occupied by the Credit Crunch and tightening of credit specifically the Inter-Bank Loans along with Credit Swap situations and Sub-Prime Mortgage meltdown.

Of course, once the dust has settled and there is a modicum of financial stability I am sure that the market will focus on the Candidates or Candidate Elect's (post November 4, 2008) tax policy.

Once the G7 along with the IMF provide some concerted action to restore financial normalcy to the market, there will be more debate on the Tax Policy and proposals for additional Tax Stimulus packages.

So, US taxpayers will again be faced with another TAX REBATE check prior to Christmas! Just in time for holiday spending season and something to provide a much needed impetus to consumer spending!

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Ask TaxGuru Please refer to the legal disclaimer.

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