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Here comes the Obama Effect – Steve Ballmer cashes in $1.3 billion before year-end

From the WSJ:

Microsoft Corp. Chief Executive Steve Ballmer sold $1.34 billion of Microsoft shares in recent days, his first share sales in the company since 2003.

In a statement, the Redmond, Wash., software company said Mr. Ballmer sold the shares for financial diversification and “to assist in tax planning” before the end of the calendar year

Read more: http://online.wsj.com/article/SB10001424052748704353504575597102844299096.html?mod=WSJ_hp_LEFTWhatsNewsCollection#ixzz14TGxMBRb

With long term capital gains rates scheduled to go up sharply Jan 1, it was only prudent for the sale to be made this year.
Just imagine, however, how few and far between sales of this sort will become next year if tax rates on the wealthy are allowed to jump.  A fearless prediction:  although rates may go up, tax collections will go down.

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