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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (18700)	6/25/1998 11:52:00 PM
From: IQBAL LATIF	Respond to of 50167

The news that capital gains tax will be reduced as announced by Newt Gingrich and Lott will help the markets. WASHINGTON (FNS) - House Speaker Newt Gingrich, R-Ga., announced a plan Wednesday to reduce the capital gains tax. He said the measure would help companies create more new jobs and products. Gingrich said he will co-sponsor the bill with Sen. Trent Lott, R-Miss., that will strengthen the economy against the fallout from the Asian economic crisis and allow investors greater freedom. "The liberals can jump up and yell 'tax cuts for the rich' all they want to," Gingrich said. "Over half the American people now invest in something which allows them to take a capital gain, and the rest work in a business which was created by somebody who shifted their investment." The plan would reduce the capital gains rate from 20 percent to a maximum of 15 percent. The rate would be reduced to 7.5 percent for those currently in the 15 percent income tax bracket. It would simplify the rate by eliminating several categories of exceptions, including those for real estate depreciation, collectibles, and small- business stock. "Cutting the capital gain tax rate helps anyone who is preparing for retirement, starting a business, saving for college tuition or planning to buy a house," Gingrich said. "You want more economic growth? You want senior citizens who have saved all their life to have more after-tax income? You want young people to have a better chance to go get a job? You cut the capital gains tax." -- FNS summary by Jamie Skinner This also looks a good info- abcnews.com

To: IQBAL LATIF who wrote (18700)	6/26/1998 12:13:00 AM
From: IQBAL LATIF	Respond to of 50167

Henrik- Italy and Australia are two countries where the potential of increase is the highest. Italy production still is dominated by privately held companies owned by families, 60% of export is generated by these companies as Euro comes into play and Italy perpetual defecits and runaway inflation are finally controlled I see that Italy is like a growth country within advance economies of Europe, so I believe that a longterm holding will benefit us a lot. Australia is hit by crisis in ASEA, it has a strange geographical position it is very much a de-facto part of OECD countries but treated as ASEAN country, it does not benefit from Europe rallies since it is categorise with ASEA but when ASEAN economies were booming Aussies were held back perceived by the markets as belonging to European slow economic cycle. In my opinion purely on charts it looks like if Yen stabilises and ASEA recovers from its problems we will see Aussies as direct benefactors, we have seen lot of news a downgrades of Banking stocks on concerns of ASEA, I think it all depends on Japans coming out of crisis, like Chinese stocks were heavily under pressure due to yen breaking 141 but once yen stabilises we may see Aussies as a potential gainers based on pure valuations. asia1.com.sg