More On Political Worries

Jim Cramer hits the nail on the head in his piece this morning. The biggest thing we have to fear is Washington. I have been told by some that worrying about cap and trade tax is silly and that it will not cost that much. Everything I read says exactly the opposite. On top of that the Senate Finance Committee is looking into Medicare taxes on capital gains according to an article from Bloomberg this morning.

Somebody really needs to explain to these folks that if the economy does not recover, or they continue to bury any hope of recovery under a flurry of new taxes and regulations healthcare and global warming are not really going to matter. There simply will not be any money to pay for all these wonderful proposals. You cannot borrow and tax your way back to prosperity.

I really hate thinking about politics in the context of stocks but at this point you cannot ignore the news out from inside the beltway.
Source: Tim Melvin
thestreet.com

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