President Obama and the Coming Stock Market Crash An exclusive Newsmax analysis warns: There could be a very rough time ahead. Beneath Obama's flowery rhetoric lies a dangerous economic plan that will wreak havoc on the American economy. Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending. Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress. In the coming months — when investors realize that Obama will raise the cap gains rate — there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama's doubling of the tax rates next year. All of these issues and more are explored in Newsmax magazine's special report "Obamanomics — the Coming Tax-and-Spend Nightmare," by Wall Street Journal columnist John Fund. This Newsmax magazine special report gives Americans the first in-depth look at the Democratic presidential candidate's likely strategies — and how they will affect not just the larger economy, but your personal wealth as well. Indeed, Obama makes no bones about his plans to go on a tax rampage. Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars. He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.
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