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Originally Posted by ForBell
oh, thanks - that explains a lot.
"3rd - I would never take the tax hit from moving to 100% cash"
3rd - The word all week has been that the sell-off is a move to avoid Obama's increased tax rate coming the new year. You don't see cash as a viable asset class?
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The sell off is tax-driven; taking profits now & avoiding Obama's coming tax increase.
In fact, the super wealthy are selling and moving money off-shore.
Stuart Varney's guest today was Steve Siebold, author of "How Rich People Think", he was asked, "When will they bring their money back to America?"
He said, "I don't know and they don't know, either. Will America ever be the same? I have spoken with many depressed rich people over the past few months."
Video: "Why Are the Rich America’s Scapegoat?"
Varney & Co. - Fox Business