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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (43761)	12/21/2003 7:19:48 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Ramsey, I think it morganstanley.com <<Early next year, Congress will consider a piece of legislation that could have important implications for recipient countries of US foreign direct investment (FDI).?The legislation, known as the ø‹omeland Investment Act?(H.R. 767) and the øŒnvest in the USA Act?(S. 596), is part of the broader international tax bill, and?proposes to temporarily reduce the tax rate on US firms?repatriated earnings from 35% to 5.25%.?If the legislation is passed \ and the chances are quite good, according to our government relations team \ the tax amnesty could affect those economies that are disproportionately dependent on reinvested earnings as a source of investment.?>> ... is very interesting, because: (a) it indicates the degree of desperation for inward remittance of funds, (b) it suggests that the USD may get a pop upward, (c) if it is passed, it signals a new phase in the competitive intervention around the globe, and (d) if it fails to get the money back into the homeland, then we need to drag out that "O" word again, as in 'ominous'. Chugs, Jay