The Peter Ships Show

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Well, we finally broke a four week winning streak in the US stock indexes on Friday.

Although the Russell 2000 was the only index that managed a positive week, but probably

the main reason for the selling was the reaction to what should have been in the markets

anyway to the announcement of the higher capital gains taxes that the Biden administration

is looking to include to pay for all of these new programs that are being unveiled.

Now I went over the specifics of the higher rates on the podcast that I just did.

So if you haven't listened to that one, make sure you listen to it.

But I want to talk a little bit today, not only about the reaction in the markets, but

about the Republican hypocrisy and dishonesty in their opposition to these tax hikes.

So first of all, the reason that the markets are selling off is number one, higher capital

gains rates in and of itself diminishes the value of US stocks, right?

Because US companies, the value of those businesses is the value of the income that the shareholders

can derive.

The income has two components.

One are dividends.

...