Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Boca_PETE who wrote (6175)	7/23/1998 9:38:00 PM
From: Investor2	Respond to of 42834

Bob's site also works fine for me.

To: Boca_PETE who wrote (6175)	7/23/1998 9:54:00 PM
From: Investor2	Read Replies (1) \| Respond to of 42834

Here are portions of the official announcement: "Clinton Signs IRS Reform Bill By Laurence McQuillan Reuters WASHINGTON (Reuters) - President Clinton Wednesday signed into law politically popular reforms of the Internal Revenue Service, but warned Congress that any major tax cuts now would be ''the wrong course for America.'' ... Under the new law: -- A nine-member oversight would be created, with six of the members appointed by the president from the private sector. The other members include the treasury secretary, the IRS commissioner and an employee representative of the IRS. -- Interest and certain penalties would be suspended if the IRS failed to notify a taxpayer within 18 months that taxes were owed. Starting in 2004, the IRS would be required to notify the taxpayer within 12 months. -- The tax collection agency would be prohibited from seizing a home if the amount of the taxes owed was less than $5,000. -- The IRS would be required to fire any employee who falsified or destroyed documents to cover up mistakes, or assaulted a taxpayer or another IRS employee. -- At Republican insistence, the law shortens the length of time an investor must hold onto such assets as stocks and bonds in order to be eligible for the lowest capital gains tax rate of 20 percent. The 18 month period was cut to one year. -- American taxpayers will eventually be getting a "value-added tax", in addition to the FICA/Medicare tax, the Federal Income Tax, The State Income Tax, The Property Tax, the Estate/Death/Gift Taxes (State & Federal), the Road & Transportation Taxes, Gasoline Taxes, Telephone and other Communication Taxes, the Excise and Sin taxes, the Import taxes and the Export taxes." Best wishes, I2 PS: I just couldn't resist adding the last bullet, which was not in the original manuscript.