George-- Some is priced in,, but far from all IMO. There was too much question do to the Dems mumbles about helping the wealthy.
I recd the following from someone that found it on the web Sat AM. They are not certain but it may have been from MarketWatch OR?? And it is not complete..
The elimination of double taxation on dividends now appears all
but certain.
What's more, sources say that it's the tax on the individual
level that will likely be repealed. That makes total sense from
a political point of view. It would strengthen the President's
and new Congress' popularity with senior citizens -- the most
powerful voting bloc.
The ramifications of ZERO dividend taxes for individual investors
are mind-blowing!
First, people will run from CDs and bonds to high-dividend
stocks. If dividends are tax-free, no one in his right mind will
sit and be taxed heavily on his interest income. Second, the
muni-bond market would be severely disrupted, as investors rush
to high-yielding stocks.
And third -- this is critical -- companies with strong cash flow
will likely start paying dividends to attract investor interest.
Microsoft, for example, has a gigantic $40 billion cash horde --
$7.57 per share.
This thing will feed on itself. Investors will rush to
high-yield stocks. More companies will pay dividends. The
market will move higher. And even more investors will rush in -- in a panic!
