In the interest of fixing the current market crisis, which candidate would be more likely to make trading more costly or difficult (as some congress members have proposed), and would you still vote for that candidate at the expense of your livelihood?
Well from what I know daytrading is better when things are crazy and volatile. So maybe the best candidate for daytrading isnt the best one for the markets/economy in general. Its well known that Obama is dropping taxes on people who make less than $250,000 a year, but most traders arent even profitable. However I would venture a guess that the average person who daytrades is not making any money trading, but probably makes good money in some other field. So its a multifaceted question and really depends on how you look at it. Even though the partisan screaming will soon fly, there are a couple ways to could answer this question.
I'm thinking along the lines of cap gains increases and/or transaction taxes if the bailout fails. Haven't heard from either candidate on the transaction tax. I believe the bill left the door open on that one, unless I am mistaken in the wording. Perhaps I should say trading, not daytrading. Question adjusted. Thanks for pointing that out Jonbig04.
I see. Its still going to depend on a variety of factors. Whether you are trading as a business (which it seems maybe smart under obama as he wants to drastically reduce small business cap gains tax) or an individual. And mostly how much money you are making.
If congress was desperate they could vote for a transaction tax on every bought and sold piece of stock. This would most likely come from an Obama presidency seeing how a few democrats tried to get this put in place including everyone's fav pelosi.
It would be MORE LIKELY to come from Obama, yes. As in 0.005% chance to Mccain's 0.002% chance. On the face of it, I personally hate the idea. I don't think it will be implemented, but I guess we will see.