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Strategies & Market Trends : Waiting for the big Kahuna
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To: James F. Hopkins who wrote (28384)9/19/1998 6:19:00 PM
From: Monty Lenard  Read Replies (1) of 94695
 
but often because some law was slipped under the door

Jim, talk about slipping a law under the door. A good example would be the cap gain tax cut passed for 1997. How many of the people knew to sell capital gain assets after 5/6/97 and before 7/29/97 to get a special rate on capital gains tax. Hell, that little window of opportunity was left open for some DEEP POCKETS (multiply 8% times $1 mil capital gain or even larger)to take advantage of. It was without question a political payback. The ones that took advantage of it probably had already sold before the law was even passed. In fact, I believe this window was retroed meaning the law was passed AFTER this time period. Would have to go back and check the dates to be sure though. (We get the proposed changes long before the changes actually become law)

I admit the Republicans was most instrumental in passing that piece of legislation. I would just like to be privy as to who was paid off with that. Most of the people will never know that it even existed and sure did not know in time to take advantage of it. That is crooked IMHO! I see these little loopholes all the time because my clients pay me to see them and advise them in time to take advantage of them but the guy who can't afford me or someone like me is not on a even playing field.

See, I can take the other side of the fence when I feel an injustice has been done. :-))

Monty
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