2 quick things-
First, it makes zero sense to say that the market is over or under what it "should" be. Perhaps a single stock can make that claim, but the "market" as a whole is what it is. It's like looking up a baseball card in a price guide and saying it "should" be worth $100, but nobody will pay you more than $20 for it. That $20 is the MARKET value.
Secondly, I don't think anyone with sense is worried about their taxes going up anymore. Either congress will extend current rates during the lame duck session, or after new years, the new congress will do it retroactively to Jan 1. The only semi-legit worry would be if individual payroll software companies put in withholding tables for January based on a reversion to pre-2001 rates. That could cost some folks a chunk in January, but I would expect that anyone in that field who can read would know better than to do that.