“The trend of net stock sales and falling stock prices around changes in capital gains rates has usually been short-lived and reversed over the following quarters,” Goldman strategists led by David Kostin wrote in a note on Friday. In the three months before the last increase in the rate of capital gains, in 2013, “the richest households sold 1% of their initial capital assets, which would currently amount to about $ 120 billion in sales,” they wrote.
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