With potential changes in the tax code set to take place on Jan. 1, investors and business owners have begun to protect their income before the end of the year.
The current idiotic tax laws in the USA encourage/mandate this type of action by boards and managers (their directive is to provide a PROFIT to shareholders). Congress has no clue what they are doing. We need a NEW Tax code (remember 999 as a starting point?). The IRS is a behemoth that costs billions to maintain and NO ONE really understands the tax code. The IRS is not constrained by the Constitution and 'due process' they just act as they will! Simplify the tax code, close the 'loopholes' and flatten the burden so it is fairly distributed (flat tax anyone?). While I hate to mention it, the Romney approach was to close these 'loopholes' and more fairly revise the tax laws; but even his approach was only a band-aid on a gaping raw wound that continues to fester as the USA Tax Code!