Let’s face it folks. No one is going to lower taxes. The economy is in tough territory, global markets are plummeting, and people are panicking. China will start calling in some their loans and America won’t have an easy time keeping up with it, particularly following this multi billion dollar bailout. Add to that the costs for war, hopefully the cost of increased veteran’s benefits and subsidized health care and every tax dollar will be stretched thin.
Regardless of who you support, taxes aren’t going anywhere but up. Trickle down, bottom up, it doesn’t matter. No president will be able to push through any sort of significant, and probably not even any insignificant tax breaks for any brackets. We’ve got a Democratic house to boot.
So don’t talk about who will actually cut taxes for whom; I seriously doubt it will happen. Let’s focus on how we can “clean up” wall street, pick up the pieces, reenergize the markets and restoke investor confidence.
It’s my opinion that if you have money to invest, you should invest it right now. The darkest times are the best time to get in on the action. After everyone gets out of the pool, the water levels are lower, you can get in at a good price. Assuming the entire US economy survives, which, despite the problems, I think is a sure bet, the water has no where to go but up. So get back in it.
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