Tax hikes are coming! Tax hikes are coming! Yikes, Yikes, Yikes! Pundits tizzy it up over President Biden’s rumored plan, fearing multi-faceted new, huge hikes will whack stocks. They warn budget reconciliation means Biden can slam-dunk it all with Democrats only. Take a deep breath: Internal Democratic divisions will dilute any tax legislation that passes. But, even if I’m wrong on that, it still won’t whack stocks. Let me explain.
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