Business

Obama Plans to Raise Taxes on the Rich and Businesses

By Bill Bonner / The Daily Reckoning
Got money? You might find it hard to hold onto. Americans with money are caught in a vise. On the one side is the de-leveraging economy. On the other is the government. The depression squeezes everything -- asset prices, businesses, earnings. And it's going to be with us for years -- no matter what the papers tell you. Get ready for a 20% decline in stock prices, says our old friend Marc Faber. Another analyst puts the current P/E at 22...also implying a loss of about 20% just to get down to 'normal' levels. But "this isn't a normal environment," says a senior analyst at Ned Davis Research.
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Posted by Editor at February 5, 2010 04:18 AM