Retired Moderator
Joined: 01 Nov 2007
Posts: 351
Given Kudos: 14
Schools:Wharton Class of 2011
Q48 V41
Re: 80% tax on short-term investment gains
[#permalink]
30 Jun 2009, 02:55
I find it funny that people are ready to go witch hunting on the first words "OK, folks, we have done some things wrong, lets see what we can do to make it better".
Guys, what do you want me to say - that everything is fine and that everything is going back to 2005 or 2006? That we are going to graduate and step on the elevators that are going to get us to enormously paid positions in the i-banking? That we are going to get USD 300.000 doing the same as 4 years ago? Well, I can say that if it is going to be easier for you, but...
Awful truth - this is not just a minor crisis, this is not just a normal recession cycle. The economy is changed and we have to prepare ourselves for that in next 2 years. We could ignore reality, but that won't help us a bit. For me, it is an exciting challange, I see new opportunities in this turbulent times. The things will be different, we will have to redefine some methods and mechanisms, to analyze the past and conclude where have we gone wrong, to dismiss some old prepositions and to implement new.
Getting back to drawing board is as exciting as it could be, at least for me. If your only goal is just to go back 4 years back, hoping that everything will be just like in "good old times", well, I can do nothing but to wish you best luck. In the end of the day, everyone should chose his/her own path.
Instead of conclusion, let me cite President Obama:
"We need young people instead of the, you know, a smart kid coming out of school, instead of wanting to be an investment banker, we need them to decide they want to be an engineer, want to be a scientist, they want to be a doctor or a teacher, and if we're rewarding those kinds of things that actually contribute to making things and -- and making people's lives better, that's going to put our economy on solid footing, we won't have this bubble and bust economy that we've gotten so caught up in for the last several years."