Wall Street is pumped up. The cynical amongst us have always suspected that in the end, the Trump Revolution was always really going to be about taxes. And Wall Street certainly has thought so, as the Dow has had 63 record highs since Trump's victory last November, climbing around 4400 points.
It's worth noting that Trump wants to add stimulus just as the Federal Reserve is doing the opposite. Citing the strong jobs market, the Fed recently announced plans to begin unloading the enormous portfolio of bonds it bought during the Great Recession to support the economy.
Needed or not, Trump's tax plan may be paid for by adding to America's mountain of debt. The Tax Policy Center estimates that the tax framework would slash federal revenue by $2.4 trillion over 10 years and $3.2 trillion over the second decade.
How does the proposed tax plan affect your trading plan?
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