Good point. The large houses are responsible for a heck of a lot of the normal daily volume, they can't exclude them if they want any real money from this. This is such a stuuuuuuuuupid idea. It is seriously scary how dumb some people are.
There is something a little worrying about how much they are talking about it in recent days - maybe someone knows something we don't. Still, until a legitimate source actually supports this thing in washington, I don't think there's a lot to panic about. If we see that, however, THEN I'd start to be seriously concerned.
Why a transaction tax will NEVER happen.... One can rest assured that the exchanges....which are now mostly "software"....and can go to any country.... Will move to the lowest cost jurisdiction.... ..................................................................... Which means that there would have to be "worldwide" cooperation and agreement....to cover the bases with a "blanket" same tax approach.... This will NEVER happen.... NEVER....
Is it really a big surprise that CNBC's anchors would be this tepid about this criminal scheme to tax traders? It's no secret that GE (and NBC) are to the Obama administration what Haliburton and others were to the Bush administration. NBC..er CNBC won't be cheerleaders for the tax, but you don't see them really raising a stink about it either. I too am going to contact the Fast Money folks, they should talk about this more and more. They aren't really wedded to the GE/Obama Corporatist Complex, last time I checked they had jobs outside that show.
Unless there was a New World Financial Order and that's not going to happen - or is it? Not long ago people were saying they'd never be able to end tax havens.
Tax havens "ended" this year? I have a friend that works in trust business in Switzerland, it was not their best year but it is nowhere near dead.
No way that would ever be implemented. NO WAY! there an enormity of reasons why, but I will cite only one: The stock market would go down like 20% in no time, and trend would be very bearish. a decline like that would hurt the average Joe doe investor that has stock for the long run, which is the opposite that the tax was intended for. Do you think that any politician would want to be the one who brought this sudden market decline and bear trend? no way. But in the very unlikely event that this is implemented, sell short - big time
............................................................ Taxhavens will end only if .... There is no longer an income tax.... ie replaced by a consumption tax only.... ....and there will ALWAYS be those who desire to escape tariffs of any type.... ..............................................................