I’m Jeff Tanner, Dean of the Strome College of Business, and this is a Strome Business Minute. Tax policies of the political parties are fairly stable over time, with the Republicans favoring wealth creation over wages and the Democrats favoring wages over wealth. You see this in changes to capital gains taxes, estate taxes, and income taxes, but you also see it in property taxes and usage taxes, like gasoline. So who would the stock market prefer? Surprisingly, over the last twenty seven presidents and thirty eight terms of office, the market performed better under a new president than a second term president, regardless of party. Further, markets under Democrats tend to do better, and the markets like it best when the parties switch, especially from Republican to Democrat. But the Raymond James analysts who did this analysis say there really isn’t enough data to know with any certainty. This has been a Strome Business Minute, presented by the Strome College of Business at Old Dominion University.