1/4% Tax on all stock trades pushed in NY Times today

Turn on C-SPAN2 right now there is a Dem talking about regulating the futures market.

 

Wouldn't be surprised to see them try this on futures as well.

So it'll cost us $200~ round-turn to trade an ES? Yeah, that'll work.

 

what was said?

 

Agreed 100%

People stop preaching to the "choir" here and register on the NY Times website and make a post!

http://community.nytimes.com/article/comments/2009/01/13/opinion/13herbert.html#postComment

 

If you buy a commodity contract you must take delivery.

 

This is a stupid idea and the idiots proposing this have no clue.

This would destroy financial markets and liquidity and right now in the world we need as much liquidity as we can get.
Trading would halt for more than just the little guys.

I have a Master's in Taxation and have studied Tax Law, spent years in Law libraries, read our Code, Treasury Regs, Court Cases and have seen some ridiculous shit in our code. I hope this doesn't take hold.......But.....
Once this economy turns around Obama is going to Tax the shit out of the wealthy and you can count on BIG CAPITAL GAINS tax increases.

 

Unfortunately, congress is the last place that thought and study will occur.

 

Perhaps there is still hope, then. I think it likely NObama will be out of office by the time the economy "turns around and is healthy" again...