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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Richard Nehrboss who wrote (34611)10/27/1998 12:25:00 PM
From: IceShark  Read Replies (1) | Respond to of 132070
 
Richard, US corporate income taxes started in 1913, as did individual taxes. Any comparisons between the 20's and 90's must be done on a very macro basis due to all the structural changes. For example, companies used to actually pay cash dividends back then - now they just buyback stock and use it to compensate employees without recognizing the option as a wage cost. This has reached absurd levels in Silicon Valley where they even give telephone receptionists ISOs. No fool'in! -g-

In any event the current market is at nose bleed levels, the only question is by how much. And knowing precisely by how much does little good when trying to figure out when a mania will come to a screeching halt.

Regards, Ice



To: Richard Nehrboss who wrote (34611)10/27/1998 10:50:00 PM
From: Knighty Tin  Read Replies (1) | Respond to of 132070
 
Richard, I would claim that since both are based upon after tax numbers, they are comparable. However, pe ratios tend to expand in the short term when corporate rates are cut. So, a change in rates is more pertinent than whether or not the rates are the same or even exist.

MB


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