BUSINESS
11/08/2012 08:51 am ET Updated Jan 08, 2013

Super-Rich Americans Suddenly Scrambling To Make Moves

The race is on for wealthy Americans to save on taxes before Jan. 1.

President Barack Obama's re-election means his administration will push to let tax cuts enacted during the George W. Bush era expire for high earners, as scheduled, at year-end. Obama wants to increase the top federal income tax rate to 39.6 percent from 35 percent, boost rates on long-term capital gains to as much as 23.8 percent, and shrink exemptions from estate-and-gift taxes.

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