Another conference on tax without any meaningful details.
As I wrote yesterday – as it is it is only a negotiating tactic as it will not pass the Congress.
Details are very scarce (it does not even include the income ranges of the three personal taxes and then goes even vaguer as providing tax relief for families).
The few things that made sense would not be paid by other offset or growth, but adding at least USD $5.5 trillion to the US Deficit (more likely USD$7).
And this without addressing Obamacare or the Border Adjustment Tax.
So the market is starting to get skeptic (and Friday there is the US Tax Ceiling – probably not an issue)
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