Earlier this month, President Obama released his fiscal 2014 budget proposal, which included new taxes for both low- and high-income taxpayers.

In the following video, Fool markets analyst Mike Klesta talks with contributor Dan Caplinger about the impact of those taxes and whether they will affect the stock market.

Fool contributor Dan Caplinger, Mike Klesta, and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.