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.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (30354)	3/19/1999 8:53:00 PM
From: PaulM	Read Replies (1) \| Respond to of 116793

DOW 10000 Attracts Mutual Fund Money at Record Pace biz.yahoo.com If this is true, and I bet it is, who is selling? The fix may be in. Also especially interesting is the stat about the average mutual fund being up only 1.74% this year. Compare that with the DOW. It's the classic end to a bull market: when it looks easy to make money, but, because of breadth, is very hard. Add some psychological quantitive hurdle--like DOW 10000--and you get a public kicking in money at the worst possible time.

To: Alex who wrote (30354)	3/20/1999 10:50:00 AM
From: goldsnow	Respond to of 116793

Germany taxes industry German industry will suffer from energy taxes The German Parliament has passed the tax increases on business first proposed by left-wing finance minister Oskar Lafontaine. Industry was hoping that the government would modify the proposals following the resignation of Mr Lafontaine last week. But the tax changes sailed through the German upper house, the Bundesrat, on a show of hands. They have already been approved by the Bundestag, the lower house. Werner Mueller, the caretaker finance minister, defended the new energy tax against the charge that it was going to hit business too hard. "The truth is that the economy will be two billion Deutschmarks ($1bn) better off," he said. Business threatens to flee Under the Social Democrats' tax proposals, taxes on energy sources like petrol, electricity, heating fuel and gas are being raised to finance a personal tax cut for low income families. Although the corporate tax rate is being lowered from 45% to 40%, the elimination of 67 tax loopholes will mean that large companies will be paying about DM10bn ($5.1bn) more. The government has given tax breaks to small and medium size firms, amounting to DM5.5bn, and has said if favours lowering the corporate rate further. Some big companies, most notably in the energy and insurance sectors, have said they will move their headquarters from Germany if the tax changes go through. Economy slowing The programme of tax increases on energy is vital for the Greens, the government's coalition partners, who also want to phase out nuclear energy. It was industry objections to this plan which reportedly precipitated the resignation of Mr Lafontaine. The government has said it will bring forward further plans for corporate tax reform by the summer. The need for tax reforms has become more urgent because of the dire state of the German economy. Unemployment is forecast to remain at above four million, while industrial production has been flat, remaining unchanged in December. Business confidence is at its lowest level for many years, amid worries that the cost of labour in Germany is too high. The tax changes are intended to boost growth by lowering the burden of national insurance taxes and cutting the top rate of income tax. The government says that by 2002, when the reforms are fully implemented, the average family will pay DM2,500 less in taxes than in 1998. news.bbc.co.uk