Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: jimsioi who wrote (25082)	1/8/2003 4:43:36 PM
From: Art Bechhoefer	Read Replies (2) of 36161

>>NASDAQ 100 - is that all there is to the January rally???<< NASDAQ stocks are being hit by bias in the proposed changes to taxes on dividends. Since a great many component stocks in the NASDAQ 100 pay little or no dividends and are attractive mainly for their capital gains, it is likely that this is in reaction to the latest proposals. However, it turns out that there was a hidden proposal for capital gains tax relief, based on the extent to which a company retains earnings. Such a proposal would be a nightmare to implement and would require at least double the present number of accountants to figure out how much tax relief the individual investor would get. This ridiculous treatment of capital gains would affect not only the tech sector but also smaller gold stocks where dividends tend to be minimal and capital gains are the major attraction for investors. Once again, a better alternative, recognized by at least a few analysts, is to lower the corporate tax and index capital gains for inflation. Even though this is far from what the administration wants, it might do the job better, more efficiently, and more equitably. Art

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