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

QCOM 170.90

-1.3%

Nov 7 9:30 AM EST

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To: kech who wrote (31011)	1/12/2003 10:52:47 AM
From: Art Bechhoefer	Read Replies (1) of 196553

>>So the basis would only increase over time as these investments occur.<< True, over the long term, the basis would increase, but exceptional costs incurred in one quarter that would be recovered only over longer periods can raise unnecessary complications with figuring out just what the cost basis should be. It is entirely possible that growth oriented companies like QUALCOMM could incur expenses such that the cost basis could DECLINE in the short run, or at least not rise commensurate with increased business revenue. What I'm saying is simply that the proposal creates so many complications and exceptions to the policy that it must have been created to provide jobs for laid off Andersen accountants. Even a conservative journal such as The Economist has expressed second thoughts about dividend tax cuts as opposed to a simpler and more equitable cut in the corporate income tax (which would eliminate the need for a dividend tax cut). Art

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