Posted By RichC on December 15, 2017
Another record high on Wall Street as once again the financial markets believe the Republicans in congress will finally get promised tax reform across the finish line. Even if Democrats see some benefits (many agree US corporate taxes are too high) they haven’t contributed in the GOP plan; they likely will continue to oppose anything that is on President Trump’s agenda or could garner him improved popularity – politics!
A simpler tax plan would have been nice, but special interests have nosed in a few nuggets and added complexity … and without votes from Dems, those who prefer simplicity and fairness have caved to get the votes needed to pass the bill. So it is business as usual for congress.
Those believing in the Trump agenda of less regulation, smaller government and lower taxes believe businesses will grow and move back to the US. Investors see economic growth in our future so all three major indexes set all-time highs. The Dow Jones Industrial Average rose about 139 points to 24,648. The S&P 500 jumped 23 points to 2,675. The Nasdaq Composite advanced 80 points to 6,936.