What effect do you think those much higher tax rates will have upon stock prices beginning in 2013? Especially since the long-term capital gains tax rate will be so much less? Here's what history says, but remember, it ends badly, except perhaps for the insiders....
A quick story in two snapshots. First, the expected future trailing year dividends for the S&P 500 through the fourth quarter of 2012:
Second, the tax rates that apply to dividend income from 2003 through 2012, and the expected tax rates that will apply for 2013 onward, given current law in the U.S.:
Speaking of which, here's what insiders are up to today!