June 25 (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,” he said.
Queso wrote:There are short-term and there are long-term investments. Put this kind of tax on real estate, NOT on stocks and bonds!
Click Click D'oh wrote:Queso wrote:There are short-term and there are long-term investments. Put this kind of tax on real estate, NOT on stocks and bonds!
You pay capital gains taxes on your home?
