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Any Tax Cut Compromise?

The debate over whether to extend Bush-era tax cuts remained unresolved Tuesday, as President Obama and congressional leaders departed from a hour-long meeting on tax policies for the new year.

"The American people did not vote for gridlock," Obama said in a press conference following the meeting. "Today we had the beginning of a new dialogue that I hope...will help break through the noise and produce real gains."

Republican leaders want to extend tax cuts for all Americans, including the wealthy. President Obama has long-insisted on preserving tax relief for middle-class Americans only.

However, in one sign of action, Obama said he appointed Treasury Secretary Tim Geithner and budget director Jack Lew to work with congressional Republicans and Democrats to come up with a deal on taxes in the next couple of days.

If no agreement is reached before Congress breaks for the holidays, taxes on all Americans would increase, a new year shocker that would increase pressure on Washington to act.

Immediately following the meeting, congressional Republicans said the discussion with President Barack Obama was a positive one in which both sides agreed to spend more time working together and finding common ground on tax and other tough issues.

Considering it's still unclear what your tax obligations may be next year, should you avoid dividend payers?

Alan Zafran of Luminous Capital doesn't think so. In fact he's recommending two ETFs; the Vanguard Dividend Appreciation ETF and the YAFFX. If you'd prefer individual names he suggests looking at the dividend yield as well as the bonds of Abbot Labs and Johnson & Johnson.

Hear more from Zafran. Watch the video now!

Read More:
Obama Appoints Geithner, Lew to Seek Tax Deal With GOP



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Trader disclosure: On November 30, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (TEF); Seymour owns (AAPL); Seymour owns (BAC); Adami owns (AGU); Adami owns (BTU); Adami owns (NUE); Adami owns (C); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami’s wife works at Merck; Grasso owns (ASTM); Grasso owns (BA); Grasso owns (BAC); Grasso owns (BWC); Grasso owns (C); Grasso owns (CSCO); Grasso owns (JPM); Grasso owns (LPX); Grasso owns (MOT); Grasso owns (MHY); Grasso owns (NDAQ); Grasso owns (PFE); Grasso owns (PRST); Grasso owns (X); Terranova Owns (UPL); Terranova Owns (C); Terranova Owns (PEP); Terranova Owns (VRTS); Terranova Owns (GS); Terranova Owns (OXY); Terranova Owns (OIH); Terranova Owns (AXP); Terranova Owns (FCX); Terranova Owns (AAPL); Terranova Owns (POT); Terranova Owns (NKE)

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For Joe Terranova
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Virtus Investment Partners own more than 1% of (ABAX)
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Accounts Managed By Kanundrum Capital Own (WFC)
Accounts Managed By Kanundrum Capital Own (QCOM)
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Nations owns (SPY)
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For Barry Ritholtz
Ritholtz owns (C)

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Jefferies makes a market in (AAPL), (RIMM)

For Alan Zafran
Zafran Owns (BP)
Zafran Owns (YAFFX)
Luminous Capital Owns (YAFFX)
Zafran Owns (JNJ)
Zafran Owns (ABT)

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