Biotech Values

[zipjet]

Can't see a Trump administration cutting some of the subsidies for oil-and-gas development or real estate

Depletion and depreciation. I think there are sound policy arguments for both. Agree Trump won't go there.

Repatriation is obviously the big-ticket item here, albeit only as a one-time thing.

Yep. If I were running a multi-national, I would not bring the cash home even at a 10% one-time tax. So rather than continue to drive these capital-accumulating companies into the hands of foreign companies, I think we need to give up the idea of taxing this cash entirely.

Thanks Peter,

Jim