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Technology Stocks : American Power Conversion
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To: Bill Martin who wrote (1804)10/26/1997 9:19:00 PM
From: Phillip Crone  Read Replies (2) of 2574
 
Bill, it's not that people owe money in 1997, it's that they want to take profits today but they can wait a few months and delay their tax payments until 1999. The new capital gains tax law states that holding held 18months or longer are subject to 20% capital gains. A majority of the big money made has been made since the summer of 1996. Bill, I have many wealthy friends (people with 7 figures) and this is what the so called smart money is going to do. Most people will do anything to "delay" taxes. January will be the first change to take advantage of the first delay and still have one year and 4 months to use the money. Hope this explains.
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