DOW 9318.96 +201.84 (+2.21%)
NASDAQ 166.58 +40.09 (+2.46%)
S&P 500 1010.74 +22.13 (+2.24%)
Since 26 May, the day upon which the president\’s tax relief plan was agreed…
DOW 582.6 6.1%
NASDAQ 121.54 7.1%
S&P 500 63.82 6.2%
Taxpayer activists have been saying since time immemorial that investor tax relief, like reducing dividend and/or capital gains tax rates, would lift markets and increase government revenues due to increased commerce in the financial markets. Critics said cutting rates would cause massive sell-offs that would drive markets down. But what we\’re seeing is strikingly similar to the last time the cap gains tax was cut: New financial commerce is driving the markets up. Investor confidence is increasing. Capital investment is up.
Told you so.