Actual Taper facts:
There has only been one Fed taper, ever -
Started 1/2/2014:
$SPX = 1831.98
Ended 10/29/14:
$SPX = 1982.30, +8.2% since the start of taper.
The largest drawdown, from the end of taper level, was -8.6%, on 2/11/16.
$SPX went +45.9% after taper started.
Congress and the White House are kicking around ideas for what kind of tax increases they would like to impose upon us. Here is your periodic reminder that if 12-mo. total of federal receipts gets up above 18% of GDP, we get a recession (and a bear market, of course) every time.