Well... some of you are probably considering moving to different countries. Different, less socialist countries that don't borrow from the Chinese to spend on social programs that our grandchildren will be paying for working in Chinese mines.

But some will stay.

For those who stay, who make over $200,000 a year, what to do?

1) Sell appreciated assets in the 2012 calendar year. Starting Jan 1, 2013, you will see a minimum 3.8% tax increase on capital gains to pay for the "medicare surtax." That will raise the top rate to 18.8%. If the Bush tax cuts are not extended into 2013 (I think that we have a decent chance of saving them). If the Bush tax cuts are allowed to expire, you will see an increase of 8.8%, as the top rate will climb to 23.8%.

2) Be careful carrying defense industry investments into 2013.

3) Talk to your investment advisor about: your IRA, RMDs from an IRA increase your adjusted gross income, maybe it is time for a Roth conversion?
Some folks will head for tax exempt bonds, as they don't increase your AGI.

4) If you have friends who are wealthy, visit them now, before they get too busy packing to move to their new horse farm or winery in Chile.

5) Do not start a business. The government will take it over and make sure than only the unions get paid.

6) Buy any guns that you have been interested in now. We are one SC justice away from a new look at cases like Heller.

7) Set aside much more of your income for health care and insurance costs.

8) Invent something that stupid people just can't resist. The stupid are now the majority.

9) Manufacture that product for the stupid offshore, and import them into the US. Our government could care less about unfair competition and trade. After all, if they gave China most favored trading status, they will give it to you also. But be careful... they will want to borrow money from you all the time, in order to pay for programs for the stupid, and ensure future re-elections by the hand-out class.

10) Install security cameras. As success continues to be villianized, the youth will continue to seek easier ways to survive. The Thug Life has been glamorized for the media for many years, while working hard and doing the right thing has become passe at best. If you are seen as productive and have visible assets, you are "rich" and you have a target on your back.

Good luck.