To: Haim R. Branisteanu who wrote (57065 ) 10/29/2009 9:12:31 PM From: TobagoJack Read Replies (1) | Respond to of 217931 <<investor public will start loosing faith in confetti money>> ... never mind the investor public. the general public will soon enough be raped, and they would not even know what to fear any more, because all would be fearful, and every legislation a new raping just in in-trayplayer 1: From a friend of mine, who follows DC politics and HK politics closely... CNBC Steve Leasman, agreed with an anchor's point that to make the Frank and the Obama financial regulations work there would have to be alignment from Asia and Europe, in particular with banks cap levels. US can't be at disadvantage, as such bring others into line will be US effort. Leasman said he had spoken with officials who were serious about making this happen. -- So I guess, US pressure on HK/Sing/London will intensify .... although in HK it has already started with US IRS disclosure requests. (Which HK is asleep at wheel about). -- None of this news to financial folks as logical US would try to make Asia less competitive, but will be interesting to watch..player 2: clearly, it seems to me, a US passport in HK etc.... is a dead man walking, for getting anything done correctly or constructively. they will regret making themselves a pariah nation in the process. but that is, no doubt, for another time. player 3: Already the case. Several of private banks are hesitant to deal with usa citizens or for that matter cdns that can not show residency outside of canada In fact hsbc thinking to just say no to new clients, as not worth the headacheplayer 1: Let's see. In 2011, the Bush tax cuts expire, meaning that those making over $360,000 will have their top tax rate pushed up from 35% to 39.6% Then we get this inserted in the House Health Care Bill.... The U.S. House of Representatives' healthcare bill released on Thursday raises most revenue by taxing individuals making $500,000 or more, but also tightens rules for corporate accounting and takes aim at foreign companies working in tax havens. The $894 billion bill, a product of months of negotiations between three congressional committees, must now be reconciled with a Senate version, where many of the provisions could change. Americans earning more than $500,000, or couples taking in more than $1 million annually, would face a 5.4 percent tax, to raise $460.5 billion. So, for those making over $1 million per year, their effective tax rate would be pushed up from 35% to 45%. I guarantee that if enacted, it would raise nowhere near $460 Billion. Probably good news for tax-free munis and deferred-tax annuities.... We'll see if the Senate goes along. And if they don't, how does the bill become deficit neutral? (and that doesn't include the $20 Billion per year that they are taking "off bill" but will still net cost the Govt. money). Assuming this gets enacted, do we see heavy selling of large gains in 2010, just to pay the lower tax rate prior to 2011? Might see a one time surge in tax revenues.....player 2: on the most simple level, and with all that in mind, i will be selling everything before dec 31st... in as much as the portfolio is now 90% in the long term cap bracket which is a net net 25% differential. if i had the slightest clue to 2010, and it was as friendly, i'd consider not liquidating. but, it is what it is. i suspect these guys will continue to shoot the future of the country in the foot as we go forward, notwithstanding some surprise in the november elections..... which.. a surprise.. would be hard to imagine, given both sides, are equal opportunity nation destroyers.player 4: i am most enthusiastic for the following basket of wastrel legislations: - raise taxes in all oecd to 90% marginal rate, starting at 120,000 in any currency denomination - shut down all gold mines on environmental protection imperative - global ban trade on 'conflict-gold' - open book on all account owners of the oecd - legislate deposit box leasing as if they were bank accounts - continue to print and spend as if there will be no tomorrow i also strongly urge beijing to maintain hk's 50-years no-change pledge, to the last english alphabet. bring it on!