Market Insights | Tax Reform and Stocks | Fisher Investments



“In this Fisher Investments Market Insights video, our own Benjamin Lederer discusses the relationship—or lack thereof—between US tax policy changes and US stock performance. Despite the preconceived notion that many investors hold, tax rate hikes, whether individual, corporate or capital gains, have not been directly related to US stock underperformance. Similarly, tax rate cuts have not been uniformly positive for US stocks either. We believe since tax change proposals often take a long time to get through Congress and receive a lot of media hype, tax changes often lack the surprise power necessary to move stocks. While tax changes create winners and losers, it’s a mistake to overrate their net impact.

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