Stocks with high dividend payout are looking attractive. In an interview with CNBC, Michael Cuggino, president of Permanent Portfolio Funds, said that he likes dividend paying stocks as a long term investment, regardless of the taxation policy. He said, “The reality is there are a lot of good businesses selling at reasonable prices right now in the stock market and in many cases they are providing dividend yields that are in excess of the 10-year Treasury, the 30-year Treasury.” He also said that tax rates are not likely to go up very high. He said that even in the case of a double dip, tax increases may be deferred. He likes Chevron (NYSE:

) and AMB Property (NYSE:

).