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?
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.
I'm sorry to break this to you Gnome but #3, #4, and #5 all come from the "Commodity Futures Modernization Act of 2000" which was authored by a bunch of REPUBLICAN senators and house of reps. In fact, the legislation was introduced in the House by Representative Ewing of Illinoiss, and co-sponsored by Bliley of Virginia, Combest of Texas, LaFalce of NY ( the only Dem ), and Leach of Iowa. It was never even debated in the House. A companion bill was introduced in the Senate by Dick Lugar of Indiana, and so-sponsored by Fitzgerald of Illinoiss, Gramm of Texas, and Hagel of Nebraska, along with Dems Harkin of Iowar and Johnson of South Dakota. Anyone see a MIDWEST pattern here? http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000
I didn't say it was the fault of DemoCraps, did I. And please don't forget, I'm not a fan of RepubliClowns neither.
MARKETS ARE GLOBAL...............I am not the least bit worried....let the bailout nation politicians feed into the hands of the lazy welfare bagholders..........I will just choose a new nation as my domicile.....
People, people....calm down a minute. Did anyone actually read the article? The article called for a .25% tax. POINT 25 %. That's NOT 25 % . Its 1/4 of 1%. I hate taxes as much as the next person, but its hardly the end of the world.
lol, give me a break. Another failed trader making excuses. This doesn't have a prayer of ever passing. Maybe you guys haven't noticed that the advantage we have as traders is we are on the right side of who actually runs the country, wall street, not these bogus for show political party shams. Who cares what the public thinks on this matter..the publics opinion matters not at all. If the TARP passing didn't show you who is boss then there is no hope for you.
If you buy 1000 shares for $40 per share you pay $100 if you sell the same shares a couple of minutes/hours later you pay a $100 again. Thats $200 in taxes. This is the end of the world for day and short term traders.