Capital Gains Tax Articles

Right after Obama was elected president of the United States, I turned to those around me and said, “the Dow will go down 500 points tomorrow.” Historically, the market always goes down the day after a new president is elected. However, the market has never gone down this much. I missed my prediction by merely 14 points. The Dow dropped 486 points.

My next bold prediction was that by July, when the Dow hits 6,000 and gas is $5.00 a gallon, America will realize what a mistake they’ve made. I certainly hope that prediction doesn’t come true. I thought that the market would rebound today after the huge slide yesterday, but it’s down again. At noon it’s already down another 296 points. The Dow has dropped over 750 points in just 10 hours of market activity after Obama has been elected president. I guess that pretty much demonstrates the market’s confidence in Obama.

On a positive note, the market’s reaction may send a message to Obama that he cannot raise the dividends and capital gains tax.

Update: The Dow finished down another 443 points today. The Dow is down 929 points in two days. That’s almost a 10% drop. This is the worst two-day plunge since 1987.