>>Because with banks failing left and right, only 100,000 of that 12 million is guaranteed by FDIC. He could lose it all. Also, money is taxed when it is moved.
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>There are always tax implications, but I'm sure there are places he could have invested that money and made more than he paid in taxes. I am concerned about Obama's economic plans, but I think your friend is panicking a bit. Then again, it's not my money :).
They are also expecting the market to crash here shortly (I didn't post that earlier since others have accused me of only spreading FUD - yeah I meant you Mike :o) but it pertains specifically to your comment.
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"When the debate is lost, slander becomes the tool of the loser." - Socrates
Vita contingit, Vive cum eo. (Life Happens, Live With it.)
"Life is not measured by the number of breaths we take, but by the moments that take our breath away." -- author unknown
"De omnibus dubitandum"
