"The irony is that using this reasoning for the transaction tax is just a selling pitch, as the true damaging speculators like Goldman, JPM, Morgan Stanly & gang will have their exemptions." (anaconda) read the last sentence above carefully. it was not too long ago you had a bunch of whiners on ET complaining about the pattrned day trading rules. i previously said it all depends on goldman. if goldman will accept it in some kind of deal it is a done deal.
Yeah, maybe if I traded everyday. But I don't, which most "traders" on here don't realize you shouldn't have to trade everyday, because the market isn't wrong everyday.
It's not really that they're 24 years old that is the problem than that they subscribe to liberalized doctrination and fail miserably at standardized tests about economics, including LSAT and GMAT.
Duh. You would not have the growth in the financial service industry unless they could write-off interest expense immediately. It's ALL about the tax code my friend!
This says more about their rationality than about their options as a going concern. They know, and I hope any trader on the board knows this tax is not going to pass, because it is counterproductive in every sense of the word. I'm also taken aback that this thread continues to exist. Stupid people will say what stupid people say, but that doesn't mean we should pay attention to them.
Yeah, and the probability you find one everyday is unlikely, no matter how much convincing you tell yourself.
Hi, go study accounting and economics. You obviously don't know what you're talking about. If you would like to go down that route, the best thing you can say is the lowering of marginal tax rates by reagan from a top end of 70% to about 35%. This has nothing to do with interest expense being a write off. In this day and age, the best companies have no debt and do not, therefore, have any interest expense to write off. Go back and do some homework before making grandiose, ill-conceived statements. Furthermore, far from it being the cause of our growth, it is now the reaper of our destruction, as debt, and overleveraged companies finally caught up and destroyed the economy.
be realistic. I don't recall the old saying exactly: legislate in haste retract in leisure, once it is instituted it will take years if not decades to get rid of it.