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Thursday, June 25, 2009

Gerstner's new tax ideas

Did anyone see Lou's latest? Here it is:

“If you buy something -- a stock or a bond -- in the morning, and you sell in the afternoon, the tax probably ought to be 80 percent,” said Gerstner, also a former chairman of Carlyle Group, the world’s second-largest private equity firm.

“If you hold it for six months, maybe it ought to be 60 percent,” Gerstner told Bloomberg Television.

Selling an investment after five years should carry a zero rate “to try to get the incentives for investment to go back to being a true investor and not a trader,” he said...

“We do have a greed or an inefficiency that comes out of excessive focus on the short term”

Who managed earnings with massive stock buybacks at IBM, while piling on debt to do it, and benefiting from an egregious stock option package?

Wasn't that "bring back the booze" Gerstner?

Attributing IBM's rise to Gerstner, makes as much sense as attributing GE's rise to Jack Welch.

Why are these lionized business messiahs always found in bull markets?

Daytraders taxed at 80%?

Doesn't he know that's Goldman's business?

1 comment :

Anonymous said...

Goldman's business? Don't be silly. Of course there would be an exemption for Goldman!