Adding to Long Term Holdings

With the big drop in the market on Monday, I'm taking advantage of the lower prices to pick up some extra shares in AT&T and General Electric. Both stocks are part of my long term holdings. AT&T for their great dividend payout and General Electric for their long term prospects. GE does pay a dividend, but not near the amount they used to pay. Still, I think they have great, long term prospects.

Now the government is talking about taxing health care benefits in the workplace. Hey, Obama! What happened to, "95% of Americans would see their taxes reduced."???? Did you mean South or Central Americans, because I'm just not seeing it. I'm seeing increased taxes and not much stimulus from the "stimulus package." First it was a massive tax increase on tobacco products, affecting mostly poor and middle class taxpayers, then the talk of taxing sugary products (again affecting mostly poor and middle class), now health care benefits???? Have the people in Washington taken complete leave of their senses? I'm beginning to believe so. I'll spell it out so even they can understand: Increasing taxes, in ANY FORM, hurts the economy, the recovery and the U.S. taxpayer.

On a brighter note, today's market is expected to go higher, after Monday's big sell-off. Like I mentioned in an earlier post, I'm not expecting to see any more big moves with the market until the fall. We may have a few small rallies and some drops through the summer, but I'm not expecting anything big.