Yet Another Reason Why the Tax Bill Stinks to High Heaven

Today's updates from Rick's Picks. You are receiving this email because you signed up for daily updates at www.rickackerman.com Is this email not displaying correctly? [View it in your browser](. [Follow on Twitter]( [Forward to a Friend]( The Hidden Pivot Seminar "Trading success is only six hours away." Learn Rick Ackerman's risk-averse Hidden Pivot Method and never trade the old way again. -------------------------------- “...I am pinching myself to be sure I am not dreaming. I am more confident every day with the HP approach. I am making money... I am able to escape the screen if I so wish. I do not end the day stressed and hyperactive. Impressed? I am absolutely knocked out - just wish I had found the site years ago. Best wishes, long may you continue.”- David Ivory --------------------------------------------------------------- - [North Korea Is on Investors’ Radar]( - [How Long Can Mr. Market Waffle?]( - [One-Decision]( Are Too Enticing to Shun for Long]( - [Over-Under Bet for a Holiday-Shortened Week]( - [‘Seasonality’ Takes a Licking]( - [Pre-Holiday Hijinx]( - [Is ‘Matt’s Curse’ About to Doom Stocks?]( - [Nasdaq Produces a Rare Profit for Shorts]( - [AMZN Glowers at Bears]( Rick's Pick for Wednesday Yet Another Reason The Tax Bill Stinks Published Tuesday, Dec 12, 10:03 p.m. EST It’s just like Wall Street (and its mouthpiece, The Wall Street Journal) to get all lathered up over supposed tax reform that has little more going for it than the usual heap of manure we’ve come to expect from Congress. I made this point recently in discussing some fine print in the tax bill that would keep the alternative minimum tax for corporations. It were as though the Magna Carta had retained a provision that shoplifters be drawn and quartered in the public square. So what else is in the fine print? Today we learned, for one, about a provision that would deny equity investors the ability to choose which shares they sell to reduce a position. Now, whatever they unload will be reckoned for tax purposes on a first-in, first-out basis — a process that is guaranteed to raise one’s tax bill if the stock has been rising. The change is likely to stimulate significant year-end selling ahead of the new law. Business as Usual on the Hill And here’s the kicker: If we needed further proof that we are represented solely by jackasses on Capitol Hill, it is this: The FIFO measure would raise a paltry $2.4 billion over the next ten years. Notes the Journal, “Some money managers and analysts say there has been so little discussion of the [change] that investors may be surprised to learn that [it] could reduce — or even wipe out — what they would save from an income tax reduction.” In the meantime, the spectacle of the stock market climbing vertically in anticipation of all the wonderful things the tax bill supposedly will do for the economy would be a joke if it weren’t going to prove so costly for so many. When Congress promises “tax cuts for the middle class,” we should skip the celebration and hold onto our wallets. If you don’t subscribe but want to join in the fun, [click here]( for a two-week free trial to Rick’s Picks, including access to a 24/7 chat room that draws great traders from around the world. [follow on Twitter]( || [forward to a friend]( Copyright © 2017 Hidden Pivot Enterprises, All rights reserved. You're receiving this email because you requested that our Daily Commentary be emailed to you. If you don't wish to receive further mailings, please use the unsubscribe link at the bottom of this message. Our mailing address is: Hidden Pivot Enterprises PO Box 270646Louisville, CO 80027 [Add us to your address book](//Com.us1.list-manage.com/vcard?u=822f57272edf2c46e4f77a7be&id=ca89ff5d33) [unsubscribe from this list]( | [update subscription preferences](