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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	9/20/2001 4:04:27 PM
From: Canuck Dave	Read Replies (1) of 74559

You change the name of the thread? How politically correct. I can understand why, but I wanted to make some comments on another subject, the proposed 6 month capital gains holiday. Guys like Kudlow have been pushing this for a while, and it would certainly help the already well heeled. Whether it actually changed basic business conditions is more debatable. 1. If ever there was any doubt about "The market IS the economy" problem, this has got to be one more piece of evidence to nail it down. The manipulation by supposed economic leaders is getting downright surreal. Let the ravages of previous excess play out and then let's pick up the pieces. I don't need bailouts. Up in Canada, we used to call these kinds of stimuli 'Corporate Welfare' and the recipients 'Corporate Welfare bums'. 2. So you can buy a Stock on say Oct 15, and it isn't subject to capital gains tax? Great. What happens on Oct 14? What happens on April 16? Gives 'lockup' a whole new spin. 3. The more cynical side of me say that if Big Money is willing to give the little guy a chance of not paying Capital gains taxes for 6 months, what do you think the odds are of that same guy actually having any by buying now? 4. If this thing goes through, watch for Republicans to quietly slip in a rider which qualifies options. This will allow the insiders and executives to cash out their options priced at 1992 or less levels. Going to be some nice contributions to some 2002 election campaigns. They call this bunch of clowns running Washington leadership? These are fresh ideas to pull us out of impending recession and cash crisis? I fear for all of us. CD

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