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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 169.27

-4.8%

Jan 12 3:59 PM EST

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To: Mark Fleming who wrote (30936)	1/10/2003 11:17:37 AM
From: Art Bechhoefer	Read Replies (1) of 197178

>>allow corporations to deduct the dividend expense, correct?<< My suggestion is to reduce corporate income taxes to as near zero as possible, thereby getting rid of the double taxation of dividends and eliminating many other distortions as well. The current proposal eliminates the tax on only certain dividends, not all dividends, and does nothing for bond interest. In fact, it considers preferred stock dividends as if they were interest, and therefore, they remain taxable. This is a mess! Say that you buy 100 shares of QCOM in February and hold it through the end of December. How do you calculate the addition to your cost basis? This "feature" of the new proposal is an attempt to reduce taxes on capital gains for companies that retain and reinvest their earnings, rather than pay them out as dividends. Try calculating the cost basis adjustment, considering that QCOM fiscal year ends on September 30. A nightmare, to say the least, proposed by a bunch of guys who look like they had to propose SOMETHING, irrespective of whether it would work. Art

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