Sunsets at Year End

At the end of 2010 Bush's tax cuts will sunset. Capital gain rates which are now 15% on long term gains will return to 20%.

This will only affect the rich. What's the big deal? I contend that regular people hold things that gain in value over time and are subject to taxation.

Stocks, antiques, artwork, acreage, rental properties. These can all gain in value and tax is due upon realization of the gain.

I am wondering how the anticipation may affect the stock market as we approach November and December. Will there be a sell off?

The internet is full of opinions (such as mine). Many call for extension of these tax cuts. Is this the environment in which taxes should be raised on anything? It's like kicking them while they're down.

We shall see.

'til later