Markets love this shit. Nothing gets the animal spirits going more than a massive tax cut, especially on capital gains.

Here are the highlights.

A zero percent rate for couple on their first $24k in income.

‘In essence, we are creating a zero tax rate,’ said Cohn.

Reducing 7 brackets to 3: 10%, 25% and 35%

Corporate tax rate: 15%

Elimination of the AMT

Elimination of the death tax

We’re digesting big gains, so don’t expect another +200 today. But, this is long term bullish for stock holders. The last time we had a tax cut like this was under the idiot Bush and that paved the way for extreme hedonism and the best market since 1999. Albeit, it also led to the housing bubble and subsequent crash. We’ll deal with that later on.

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