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Technology Stocks : Semi Equipment Analysis

SOXX 296.20

-0.6%

Dec 16 4:00 PM EST

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To: willcousa who wrote (12313)	11/3/2003 2:31:39 PM
From: Kirk ©	Read Replies (2) of 95587

RE: " I was so taken aback that I asked "Do you all agree that a flat tax would be best for the economy?" Again they all said yes. I asked why don't we hear this from economists more often?. They answered - NO ONE EVER ASKS THAT QUESTION. " The reason is simple. Many smart minds go into creating or finding tax shelters. I know of one guy at a top 5 (now 4) who got a huge bonus for selling or recommending a tax shelter for something like $10M that would save the client $25M (rough numbers from memory). It seemed like such a waste to have good minds work to find or create loopholes to essentially cheat the government. compare that same resource consumption to generate $10 million in new technology revenue and it is sickening... as the new technology resources will spawn even more while the tax shelters are one time events, they don't have an economic multiplier effect.

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