The 'Real' Reason Markets Are Nervous

Taxes are going up. Stocks have been going down. I don't think it's just a coincidence.

I'm not saying mortgage pressures don't hurt, but taxes going up hurts more. And trust me, taxes "are" going up.

Don't you find it odd that since talk of hiking hedge fund taxes got going, sellers got moving?

Because this isn't about hedge funds. It's about capital gains taxes and John Edwards saying he wants to raise them.

It's about dividend taxes and Edwards and others saying they want to raise them too.

And it's about the president's tax cuts and virtually all the Democratic presidential candidates saying they want to end them — at least for the wealthy, for now.

Because this isn't about the wealthy.

Last year at this time, it was about going after those who earned more than half-a-million bucks a year. Now $150,000 makes you a target.

And you, my friends, are the target.

I see a pattern: toward super high incomes that suddenly don't look so super and once near sacred market tax incentives that don't look so sacred.

You can't tell me that doesn't scare investors.

They know, I know and you know what's going on: Politicians selling you a line of crap, thinking you'll buy it.

Shocked instead to find that many of you are more inclined to sell on it.

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