Stocks Tanking in a Big Way

Stocks are tanking for the second day in a row, following the election of Barack Obama.

As a reminder, President-Elect Obama has promised he is going to raise capital gains tax rates to 20%. Some reports are saying he could raise them as high as 28%.

Yesterday the market was down 486 points, right now, it is down 346 points.

This is the largest market plunge after an election in history.

Folks are getting out before they are taxed to death. High capital gains taxes will discourage investment, drive capital off shore and amplify the financial problems of banks.

Here is the rallying cry for Republicans in 2012.

Are you better off than you were four years ago?