Every Presidential Election has a direct impact on stocks and also can make certain changes to Social Security which impacts everyone. While it is hard to pin point what changes will occur regarding taxes and stock because each presidential hopeful brings something different to the table therefore the impact to the economy and our taxes will be different depending on who wins.
President Obama may not have brought about as much positive change as he had promised in his campaigns but he definitely did his best. His most notable creation, the Affordable Care Act, otherwise known as Obama Care, resulted in tax hikes for incomes on the higher end of the spectrum.
It seems that every time there is a new President elected, the tax scheme changes. With every new leader there is policy change. As a result, the tax tables are affected. For instance, when Obama was elected, he raised taxes on those with high incomes. The next President might find ways to reduce taxes. Fortunately, most taxes didn't change for most people. For the business classes, higher taxes mean less profits. This is the group that will be most impacted.
I do not believe there will be any true changes made to taxes or to anything else just because of what a candidate says or what goes on in an election. These people say a lot of things that never happen once they are put into power. So much of the government is a wait and see what happens game. Who really knows what things will be impacted we can't see into the future.