Welcome back to On the Tape.

I'm Guy Adami, joined as always by my dear friends, Dan Nathan and Danny Moses.

Today we'll be talking about that Biden tax tape bomb that went off yesterday.

Things that end in T-I-O-N for 500, please. And we might just get

another rant from Danny Moses. Later, we're going off the tape in an interview with our

fast money friend, Karen Feinerman. The market was great all week. Yeah, a couple down days, but

by and large, market was doing just fine. The market was higher.

You know why? Because it was open. Then we got that tax tape bomb from the Biden administration,

capital gains going up potentially to 43.5% or so. I think that's complete horse hockey,

to quote the great Sherman T. Potter. I think it's a bit of a chip in this negotiation

war that politicians play, but for whatever reason the market didn't seem to like it yesterday,

saw a huge move in the VIX to the upside, and the market sold off. I will tell you,

there are a hundred reasons to be bearish, and I could probably cite all 100 of them,

in my opinion, Danny Moses,

that Biden announcement isn't one of them. No, but it's enough when the market is priced

to perfection just for people to take profits. Normally, you're always told don't make

investment decisions based upon taxes. And people probably are wondering, you know, when that

would be this has not obviously happened yet. It's not the bill has not been passed. It's just been thrown out there,

as you say, I think it is a negotiating play. I think Biden's history in the Senate, he knows that.

He can probably get some leverage on the infrastructure bill with a little give and take here.

But listen, it's just an indication that the market's price perfection and kind of the last money that comes into buy it is always kind of the first money to leave.

And I think we're going to continue to see this volatility that has been harboring underneath, you know, what looks to be a very, very strong bull market.

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