The return on capital variable accomplishes the first part of that goal (buying good companies), because it looks at how much profit a firm is generating using its capital.
Margin requirements, variable capital requirements have to be re-introduced, that is my personal position.
The capital that earns a variable return--the equity, the common stock--is taxed twice.
In a volatile atmosphere like the present you should think of capital structure as a variable that can greatly influence the success or failure of a business enterprise.
This has helped enterprises replace up-front capital infrastructure expenses with low variable costs.
As one of the world's most reliable, scalable, and cost-efficient web infrastructures, AWS has changed the way businesses think about technology infrastructure--there are no up-front expenses or long-term commitments, capital expense is turned into variable operating expense, resources can be added or shed as quickly as needed, and engineering resources are freed up from the undifferentiated heavy lifting of running onsite infrastructure - all without sacrificing operational performance, reliability, or security.
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The methods the super rich use to defer paying capital gains taxes, such as variable pre-paid forward contracts (PVFs), are perfectly legal tax-reduction strategies available to anyone.
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But you fail to mention the most important one of all: that a central bank of any country which has only variable access to international capital markets may have a problem in acting as a lender of last resort to its banking system.
You can be clever with capital expenses and still get killed by your variable costs if you don't know how to hold them down.
Now that Italian Prime Minister Berlusconi has caved in on calls to raise the capital gains tax, wealth taxes and VAT taxes, the European debt variable likely holds more pain ahead as the on-going anti-growth fiscal bias on the continent will lead to slower growth and falling government tax revenues as a result.
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The CEBS stresses that variable remuneration "should not pose detriment to the timely building up of capital base" nor, where applicable, to the timely exit from government support.
The PVF allows the investor to receive an up-front payment (typically, 75-85% market value) in exchange for delivery of a variable amount of shares or cash in the future, at which time the capital gain is realized for tax purposes and the tax on the capital gain is paid.
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