Socialist Wall Street hooker Erin Burnet revealed moments ago that according to her, talking to Jim Cramer, that the dreaded "it will never happen!" tax that ET posters scoff over "not going anywhere except in Pete Difazzio's mind" IS being bandied about now. In fact, Cramer almost sounded ok with it, himself being a socialist. Friends, you can talk all you want about Geithner and others not allowing this to see the light of day, but some months ago, and tea parties later, many never thought the unconstitutional health care bill would never get this far. Sounds like the revenue loving political whores have sniffed yet another revenue stream to mine, and they smell blood. I told you so. I just hope Erin is just doing he usual scare and ratings ploy, but it looks like if I understand here correctly, this is gaining momentum, FAST. http://www.rallycongress.com/no2tradertax/1536/tell-congres-to-block-trader-tax/
http://thehill.com/homenews/house/68273-dems-eye-stock-trade-tax If it is getting OTHERS and any big names otyher than a nobody like Difazzio, it is WW3 time, folks.
http://thehill.com/homenews/house/69295-dems-push-wall-street-150b-stock-tax It just amazes me how fast this country went to a socialist dictatorship...
The newly elected permanent EU president, announced he will push for green taxes and possibly the tobin tax.
Eventually every tax that you can imagine will become reality and some that you can't imagine yet. This tax will for sure happen with time. Any tax that has been brought up so far will happen. After that, we will move on to tax ideas that haven't been brought up. The U.S. is simply out of money and has no choice but to go down the list of potential revenue sources from most palatable to least palatable. I would guess that this tax lies somewhere towards the side of most palatable.
Ironic that the tax will wipe out most the small business types like many of us with less than 250K size accounts for day trading. It will affect the super rich the least because A) they can afford it and still make green and B) connected exchange members will get their exemptions in exchange for lobbyist cash kick backs. The idea WIDENS the gap between rich and poor, it does not "help the little guy" or punish evil speculators. I truly hate these socialist corporate welfare alliance douche bags, they are ruining my life in the most personal ways imaginable...
Afghanistan tax is possible too. http://wallstreetpit.com/12387-david-obey-suddenly-makes-afghanistan-a-big-budget-issue
why are pig stocks up 100% not crashing?vol will be 10% of todays vol with $1 spreads. its truely game over if it passes
That's all it is. People like DeFazio are not taken very seriously by their party. Erin Burnett is simply doing the usual scare and ratings ploy. It's a SLOWWWW week. CNBS has nothing else better to do.