BREAKING: Stock Market Tanks After Biden Announces Massive Tax Increases on the Wealthy – Way to go, Joe!

The markets immediately reacted to the news that Joe Biden is going to increase taxes on the wealthy.  The DOW dropped 300 points in a matter of minutes.

Yahoo Finance reports:

Stocks erased earlier gains to trade sharply lower after Bloomberg reported Thursday afternoon that President Joe Biden would propose increasing the corporate tax rate on wealthy individuals.

The Dow dropped more than 250 points, or 0.7%, immediately following the report, after trading just slightly lower earlier. The S&P 500 and Nasdaq erased gains to trade at session lows.

Dave Portney’s response to the news of the tax increases was much like millions of Americans:

There was only one reason for the markets failing:

Biden’s capital taxes are even impacting the crypto market:

It’s currently not a good day for the Markets.

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Joe Hoft is a Radio Host at, Author, Former International Corporate Executive in Hong Kong for a Decade, and a Contributor at TGP since 2016. Joe is the author of five books, including his new bestseller, "The Steal: Volume II - The Impossible Occurs" which addresses the stolen 2020 Election and provides an inventory of issues that prove that the 2020 Election was uncertifiable and never should have been certified for Joe Biden.

You can email Joe Hoft here, and read more of Joe Hoft's articles here.


Thanks for sharing!