Join Date: Jul 2003
Location: Tucson, AZ, USA
Re: If Obama wins, should you take your profits and run?
Use your IRA and/or 401K and max out all of your investments in them. You can buy and sell stocks, bonds, whatever - even an RV (as long as it has a kitchen and bathroom) through a Self Directed account. I do it every day with my accounts and Amy's, which she has given me power of attorney. I can't BELIEVE she did that!
No matter what happens short term (and I mean the next 8 years) the holy grail of protecting these accounts from taxes will stay intact - until of course you retire and HOPEFULLY have a much lower tax bracket when you redeem them.
If you are lucky enough to make a killing outside of these accounts (the Dow dropped 400 points today and prospects look pretty grim for the next year) I just look at it as a cost of being fortunate enough to be fat and happy in Amerika.
No question tax the rich is part of Obama's agenda, and you've got to admit it's been pretty much a free ride for the past 8 years...
On June 10th Obama and McCain are going to debate the economy on MSNBC. Should be interesting to say the least!
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Last edited by RonKMiller; Jun 6th, 2008 at 7:07 pm.