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Old Jan 13th, 2009, 10:57 AM   #37
wjk
 
 
Join Date: Nov 2007
Posts: 2,447
Quote:
Quote from DmanX:


In any event, I since a future is a contract and not an asset (the underlying is the asset) I suppose this idea will only apply to stocks, bonds and real estate. Even so, it will affect all markets and likely will be vigorously defended against by some of the aforementioned entities.
If this guy were to get his wish, futures would not be exempt.

“The fees would be a considerable expense for someone who is buying futures, or a stock, or any asset at 2 o’clock and then selling it at 3. The more you trade, the more you pay."

Very few democrats meet a tax they don't like. And there are lots of them in congress these days.
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Old Jan 13th, 2009, 10:59 AM   #38
EMRGLOBAL
 
 
Join Date: Feb 2007
Posts: 2,680
Take this into consideration. The Majority of People in the US, lived like they where "Bling Blinging". Now, the smoke has cleared and they relized, they are not Bling Blinging. They are pissed off.

So, the majority will want to punish those who are making Money. They will want those making money to be brought to their level. Hence, they believe that is justice. The basic theory behind Socailism.

So, Tax those who trade, tax those who make 150k or more, tax tax tax tax and tax more. Break down the "Rich" because they are all crooks and do not deserve the money they are making. This is the basic concept behind Obama Nation.

There are some bad apples out their that have helped to turn public opinion towards Socailism.

We are going to be a Socailist Nation before 2012. There is no fighting it.

IMHO, every capitalist for him/her self. Make as much F#($& money as you can, make hay while the sun is shinning. Build you wealth now. If your pretending to be 'wealthy", if your pretending your a big dog, the bite in the ass that is coming down the pipeline will wake you up from your dream. And then it will be to late.
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Old Jan 13th, 2009, 11:01 AM   #39
Fractals 'R Us
 
 
Join Date: Aug 2008
Posts: 2,357
New York and Illinois would go broke(r) when we traders move out of the US en masse.

The revenue from the tax would be next to nothing after the exchange volume was reduced to "buy and hold" trading only, what a joke... notice that many of those commentors to the article are about dislike of the class of people that "don't produce anything", not better economics for the general citizenry.. after my workout today I'm going to grab a productive guy and rub his face on the curb a bit, it's class warfare and I want to get it on!! [Just kidding, all you loonie lefties]
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Old Jan 13th, 2009, 11:13 AM   #40
clacy
 
 
Join Date: Sep 2006
Posts: 2,626
Quote:
Quote from Fractals 'R Us:

New York and Illinois would go broke(r) when we traders move out of the US en masse.

The revenue from the tax would be next to nothing after the exchange volume was reduced to "buy and hold" trading only, what a joke...
You got that right. Maybe Obama and Hillary's ties to NY and IL will keep this thing from happening.
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Old Jan 13th, 2009, 11:15 AM   #41
Anaconda
 
 
Join Date: Dec 2008
Posts: 1,931
Quote:
Quote from Fractals 'R Us:

New York and Illinois would go broke(r) when we traders move out of the US en masse.
New York is broke, and has been for years.

Traders aren't moving anywhere, stop kidding yourself. You guys have been talking sh*t about how you will leave the nation for years, and no action. It's already preferable to trade from abroad, whoever truly can do it, would have moved a while ago.

The purpose of this tax is to stop your activities. The appeasement to Obama nation is a secondary goal, the real goal is to impoverish the nation even more and make current small traders dependent on the state. Big Brother does not like independent individuals.

Modern financial markets are a leeching mechanism, which in the last decade, has become available to almost anyone. Looks like the establishment wants to close it off to most again, make it exclusive how it used to be. That's all.

Noone needs the supposed added liquidity except the same guys who "create" it. Most of these markets are just paper anyway, paper with an illussion of value. The casino is going VIP status, and we aren't included.

If you did not see this coming years ago, you only have yourself to blame for not preparing. I've called this trend 3 years ago to fellow traders, it was obvious. Now the writing is in your face, are you going to adapt or are you incapable of doing anything else to make a living & prosper?
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Old Jan 13th, 2009, 11:17 AM   #42
Anaconda
 
 
Join Date: Dec 2008
Posts: 1,931
Quote:
Quote from clacy:

You got that right. Maybe Obama and Hillary's ties to NY and IL will keep this thing from happening.
Why would you think they give one f**k about the states or the people in general?

They want the states bankrupt, this way they will fall into federal power easier.
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