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Trump tax plan seen more wash than windfall for S&P 500 earnings

Foto: James Borchuck/Tampa Bay Times via AP

As much as anything, tax breaks promised by Donald Trump have fueled the rally in U.S. stocks since Election Day. A few strategists drilling down on the proposals are wondering what everyone's so excited about.

Sure, lowering the corporate tax burden to as little as 15 percent has the potential to reinvigorate growth, boosting earnings at a time when S&P 500 Index's valuations are among the highest in history. But as alluring as the prospect is, other initiatives ranging from border adjustments to an end of interest deductions could easily wipe out the benefits...

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