Friday, August 5, 2016

Marc Faber : I know quite a little bit about Taxation

Introduction Of GST Is Positive In General:

Marc Faber, Author, The Gloom, Boom & Doom Report speaks to CNBC-TV18 and states that the introduction of GST is positive in general and that India will continue to outperform a lot of global markets.

Marc Faber : I would like to point out that I know quite a little bit about taxation because I studied under professor who had been the brain behind the introduction of the value added tax (VAT) in Germany under the then minister of finance. I also wrote thesis about the financial reform of Robert Peel who in 1842 introduced an income tax as a permanent measure which was at that time just 7 percent and only levied on income that was very high for that time. So, I have studied taxation and the introduction of the GST in general is positive but I also have to say personally I am against any tax increase. So, if the GST is a tax increase because some states will still impose sales taxes then it is a step backward instead of a step forward. So, there are many details that still need to be known before we can say blanket that its positive or it is negative. What is positive is that at least somebody managed to push through a reform that essentially boost its prestige and its pro reform agenda but the details are not yet known.

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.

1 comment:

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Dr. Marc Faber Tomorrow's Gold

Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.

Dr Faber studied economics at the University of Zurich and, at the age of 24, obtained a PhD in economics. He publishes a widely read monthly investment newsletter The Gloom, Boom & Doom Report, which highlights unusual investment opportunities, and is the author of several books, including Tomorrow’s Gold – Asia’s Age of Discovery which was first published in 2002 and highlights future investment opportunities around the world. Tomorrow’s Gold was for several weeks on Amazon’s bestseller list and has been translated into Japanese, Korean, Thai and German. A regular speaker at various investment seminars, Dr Faber is well known for his contrarian investment approach. He is also associated with a variety of funds.