Word: taxed
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...contrast, both Democratic candidates have focused more of their policy prescriptions on measures to provide direct government support for the poor, including tax credits targeted for low-income workers, new spending on early childhood education, a higher minimum wage, and health insurance options available to all Americans. Obama and Clinton say they would pay for these plans by allowing President Bush's tax cuts to expire, and possibly raising the Capital Gains tax, moves that would have a greater impact on the wealthy than the poor...
...transaction-tax cut was the second government move in four days aimed at stimulating a market that has lost almost 50% of its value from its peak last October, erasing $2.5 trillion of its capitalization. On Sunday night, the China Securities Regulatory Commission (CRSC) announced long-waited new rules to allow limited sales of previously non-tradable equities held by big investors in listed firms. But it was the transaction-tax cut that got the market climbing again. "The tax drop is an important signal of the government's resolve to salvage the market," says Dong Tao, chief regional economist...
...manage a stock market full of neophyte investors? Very carefully, China is learning. After regulators put a trading tax in place last May, the market plunged by 10.3% in the space of a week. And for many investors, that was a rude introduction to the basic lesson that what goes up can also come down. Li Xiuzhen, 58, a retired factory worker from Beijing and newbie stock buyer, says her investment fund has shrunk by 40%. Li, who receives monthly pension of $171, has lost $8,571 in recent months. "China's stock market is the biggest gamble," she says...
...regulators are taking steps to turn things around. Late Wednesday, the Chinese government announced to a cut in the stamp-duty tax imposed on stock transactions, from 0.3% to 0.1%, and Thursday's market surged by 9.29%, its biggest gain in six years...
...optimistic. "The government does not want to see the worsening market start to bring about negative impact on China's economy and social stability," Dong Tao says. He believes the government wants to see the market rise steadily, but slowly, for the next few months. "Last May's tax increase unveiled the beginning of decline. Therefore the tax cut yesterday might as well be an indicator for the start of rise. If the market doesn't respond to the tax drop, more policies are bound to be issued," he says. As to the still-depressed small investors, "As long...