The markets tend to "know" election outcomes, that is not to say that they always prefer one party over another, but it's pretty clear that they are happy with GOP control. Higher taxes mean LESS MONEY available to be invested in the markets and LESS MONEY for people to spend on consumer items (which will be reflected in lower corporate profits).
November 06, 2006
A Look Inside That Pew Poll
******************AN EXCERPT ****************************
The closing statement
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The theme of this poll is the attack on Democratic gains in this election cycle. The GOP has rolled back the Democratic intrusion onto Republican demographics, which leaves the field looking similar to 2004 and 2002. This race may hold some very unpleasant surprises for the Democrats in the House races if these numbers hold up or continue to erode over the next 40 hours.