I am aggravated enough by the interference with AT&T and then tonight, while watching the
Nightly Business Report, I learned something else to be concerned about.
Investors should be aware that the tax plan in Congress right now has a requirement that investors selling stocks must sell the longest held shares first—taking away the individual’s right to choose which shares to sell. Of course, if passed, this would typically result in a bigger capital gains tax hit to investors who like to take a little profit every now and then.
As those who like to do their own investing know, managing tax hits is a main ingredient in managing income. If this gets through, it is really going to hurt small investors.