Wednesday, 15 November 2017 10:25

The New Tax Plan has a Major Tax on Stock Investors

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Hiding in plain sight is probably the best way to describe it. The new Republican tax plan has a major tax hike for stock investors that has largely gone unnoticed to this point. The tax plan contains a new provision that would do away with the status quo of letting investors choose which shares to sell off first as part of unloading a holding, and instead force investors to sell the oldest shares first. Many fund managers say the change could cost investors millions. The CEO of Eaton Vance summed up the changes this way, saying that if they become law, “markets will work less well. Our fund managers will have their hands tied, and our shareholders will owe more in taxes”.

FINSUM: This is a major change that has not been covered at all by the financial media. It will not only raise tax payouts, but it also constrains financial freedom. Bad policy.

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