Wow. The Dow is approaching 14000 for the first time since 2007. This, in spite of the fact that taxes on the top 1% went up for the first time in over a decade.
Seems Republicans were wrong on this too.
Last week the broad Standard & Poor’s 500 index closed above 1,500 for the first time in five years. This week the Dow Jones industrial average has been flirting with 14,000, a level it hasn’t seen since October 2007.
In early trading Tuesday, the Dow added 22 points, or 0.2%, to 13,905.
Stocks are a bit pricey relative to their earnings, but are nowhere near the overheated levels they’ve seen before, said Robert Shiller, a famed Yale University economist who identified the stock market and housing bubbles of the last decade.
Shiller, who may be best known for a widely reported index tracking U.S. house prices bearing his name, also created an index to track whether stocks were cheap or overpriced.
His CAPE index — which stands for cyclically adjusted price-to-earnings ratio — factors in 10 years’ worth of earnings. He has collected data stretching back to 1871.
One reply on “Taxes Raised On The Rich, The Dow Goes Up. GOP Wrong Again”
Taxes were barely raised on the rich. I wonder what would happen if they paid their fair share.