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The day after the Presidential Election, a huge market sell-off occurred. While Obama won the election, Obamacare will survive; however, insurance companies took a hit the day after as well. One sector that is poised to potentially take a hit is the utilities. At the end of the year taxes on dividend is set to go up 15% – 30+%, as well as the overall cost to do business for utility companies is going up. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox Business’ Varney & Company to discuss the dramatic rise in taxes against dividends as well as what it means to see a sharp rise in the price of treasuries but a drop in yield.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: dividends, ed butowsky, fox business, obama, obamacare, presidential election, taxes, utility companies, wealth manager