I'm sorry but any trader that says this is a good thing or that it wouldn't effect them clearly does not actually trade and make money. Many "traders" have been exposed in this thread, I'm shocked Stock_Trad3r hasn't praised this tax yet.
Again, cap gains will INCREASE, because frequent traders on average LOSE money, compared to long term investors.
A friend just pointed out to me that the TT rate for futures, options, and other derivatives would be different than the one for stocks. http://www.scribd.com/doc/8974296/The-Benefits-of-a-Financial-Transactions-Tax .02% for futures ... $50 X 840(ES) X .0002 = 8.40 per side Not great, but much less a game-changer than $100.
Oh yeah, I'm sure the Congressmen will care sooo much. Just like they cared for the overwhelming opposition to the TARP bailout. It's very simple, your government does not give a sh*t about your stance on the matter, it does not represent the people and has not for decades. Wake up! Accept it, adapt and move on. The faster you take these steps, the better you will be in the future. At some point you have to face this fact. Wall Street is not your playing field. It was established by a select clubs of elites. You are simply allowed to participate in it, and by doing so, you uphold how they run their game. If you don't like how it is done, don't participate. Simple as that.
WOW....you miss two VERY MAJOR points!!! 1) - Mounting up the troops against a tax on trading is an ABSOLUTE joke, in relation to NOT fighting against the government stealing from taxpayers and destroying the constitutional basis of the country as directed by their globalist masters!!! 2) - There is no illusion to the TRILLIONS that were ripped out of the a$$ of the american taxpayer.....and more to come!!! Ready to do anything about that yet??? :eek: Nope.....most of you just sit back in your timid and docile state of INACTION as the theft continues! No "call to arms" and no fight....just psychologically DEFEATED thoughts of rationalized acceptance of the horrid immoral activity by our current BROKEN government! I hope you will all ENJOY the the future of what you have just accepted! :eek:
This is correct in the analysis, but in the TARP proposal, the democrats got greedy and wanted .25% for derivatives as well
Excellent Post! Once unthinkable, now unstoppable Obama-lama PS. To clarify some confusion by certain ET members, my signature "Once unthinkable, now unstoppable" refers to the radical financial and governmental changes now underway worldwide. There is exactly ZERO racial undertones, overtones, flavor, or insinuation. Some ET members are just really ignorant.
Yikes some pretty scary stuff in that paper you posted. The author mentions volume potentially dropping 50 -75% in some markets (taking levels back 25 years) but then says not a big deal as there was plenty of liquidity in those markets in the 1980's. What the hell is this guy smoking? Not a big deal my a**... -Guru