Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold Dips While Silver Holds Steady
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 6 20 2018
By: Ira Epstein

More on COMEX "Exchanges For Paper"
By: Craig Hemke

GLD Update…Breakdown?
By: Rambus

How To Settle Down Your FOMO In Mining Stocks
By: Avi Gilburt

Why Gold Ain’t Goin’ Anywhere Anytime Soon: Revisited
By: Mickey Fulp

When Distribution Quacks Like a Duck
By: Rick Ackerman

Asian Metals Market Update: June 20 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Find Slight Losses Again
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 6 19 2018
By: Ira Epstein

 
Search

GoldSeek Web

 
Yet Another Reason The Tax Bill Stinks

By: Rick Ackerman, Rick's Picks

 -- Published: Wednesday, 13 December 2017 | Print  | Disqus 

It’s just like Wall Street (and its mouthpiece, The Wall Street Journal) to get all lathered up over supposed tax reform that has little more going for it than the usual heap of manure we’ve come to expect from Congress.  I made this point recently in discussing some fine print in the tax bill that would keep the alternative minimum tax for corporations. It were as though the Magna Carta had retained a provision that shoplifters be drawn and quartered in the public square.  So what else is in the fine print?  Today we learned, for one, about a provision that would deny equity investors the ability to choose which shares they sell to reduce a position. Now, whatever they unload will be reckoned for tax purposes on a first-in, first-out basis — a process that is guaranteed to raise one’s tax bill if the stock has been rising. The change is likely to stimulate significant year-end selling ahead of the new law.

Business as Usual on the Hill

And here’s the kicker: If we needed further proof that we are represented solely by jackasses on Capitol Hill, it is this: The FIFO measure would raise a paltry $2.4 billion over the next ten years.  Notes the Journal, “Some money managers and analysts say there has been so little discussion of the [change] that investors may be surprised to learn that [it] could reduce — or even wipe out — what they would save from an income tax reduction.”  In the meantime, the spectacle of the stock market climbing vertically in anticipation of all the wonderful things the tax bill supposedly will do for the economy would be a joke if it weren’t going to prove so costly for so many.  When Congress promises “tax cuts for the middle class,” we should skip the celebration and hold onto our wallets. If you don’t subscribe but want to join in the fun, click here for a two-week free trial to Rick’s Picks, including access to a 24/7 chat room that draws great traders from around the world.


| Digg This Article
 -- Published: Wednesday, 13 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.