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Chuck Schwab: Massive tax hits coming

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Charles Schwab, the stock broker to the masses, is out with a big warning to American investors who think Washington will do the right thing and agree to a tax and spending deal by year's end: Brace for the worst. In a memo to investors, Michael Townsend , Schwab's vice president for legislative and regulatory affairs, made two dire predictions: -- Taxes on all are going to surge....