In anticipation of across-the-board, revenue neutral tax legislation, U.S. stock markets have shot up to historic gains, signaling that Congress is preparing to shake off eight painful years of economic lethargy under President Obama and shift into a higher, pro-growth gear.
The Dow Jones industrial average was nearing 21,000 this week, a level that seemed inconceivable over the past decade, with other indexes rising sharply, too. That also triggered strong advances in Europe as well.
Don’t let the Democrats fool you into believing that the stock market’s rise is only benefiting the rich. Millions of middle income Americans whose employers offer IRA’s, 401(k)s and other retirement plans are benefiting as well from the stock market’s surge.
Tax reform is still a work in progress on Capitol Hill, but House Speaker Paul Ryan has already announced that it will be ready and acted upon sometime in August.
And on Thursday morning, Treasury Secretary Steve Mnuchin went on CNBC, the widely-watched business channel, to underscore that tax reductions for businesses large and small, and for all individual taxpayers, remained the administration’s highest priority. More from The Washington Times here > The economy shifts into pro-growth gear