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PAUL B. FARRELL: We Need New Blood To Save Investors, Retirees

By Paul B. Farrell, MarketWatch

SAN LUIS OBISPO, Calif. (MarketWatch) — We need new blood, because something’s very wrong. Bear’s growling. Commodities tanking. Speculation. Inflation fears. Confidence weak. Negative yields.

Soon Fed Chairman Ben Bernanke will be forced to raise interest rates, confirming Ned Davis Research’s February forecast of an S&P 500 mid-year peak. Yes, “the midyear peak could mark the end of the cyclical bull market that began in March 2009 [...]

The wealthy are already abandoning the U.S. or moving their investments to other nations.

We saw what raising taxes on “millionaires,” did in Maryland.

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Maryland couldn’t balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O’Malley, a [...]

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PAUL B. FARRELL: We Need New Blood To Save Investors, Retirees

The wealthy are already abandoning the U.S. or moving their investments to other nations.

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