The market, on the other hand, is off 1000 points since early October. After hitting 13610 in October, it closed Friday at 12588, only up three percent for the year.
- Jan. 1, 2013 tax hikes and spending cuts of $600 billion, possible recession in 2013
- Doubling the market fueled by $4.7 trillion in federal borrowing and Fed intervention to lower interest rates and add money to market – not sustainable
- Long-term capital gains taxes could rise from 15% to 23.8%; dividends up from 15% to 43.4% (depending on income level)