(Bloomberg) -- Louis Gerstner, the former International Business Machines Corp. chief executive officer, said that short-term investment gains should be taxed at 80 percent as a way to counter the culture of greed on Wall Street.
“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”
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