Tax Threat

John Fund reports today in Opinion Journal's Political Diary that the new Pelosi House has opened the door to tax hikes. Yesterday's package of new rules to govern the lower chamber erases the three-fifths majority that was required to raise taxes under the old Republican House rules. The new rules allow tax hikes through a simple majority vote.

This is a bad sign.

I wonder if today's stock market decline isn't picking up this high tax threat.