This is extremely disappointing. I was going to vote for him in the FL primary. Maybe I should just vote for Bernie (who I think is less electable) and hope Trump (who I hate) wins re-election at this point, LOL. There's a decent chance Bloomberg is lying to appease the Democratic base and has no plans to actually push this nonsense. He's gotta know the reality is that this tax would destroy market liquidity and increase volatility (which is at an all time low despite what these idiots are saying).
I just emailed my entire list with this, and highly recommend ALL of us incl et, brokers, educators etc do similar. It's finally a very real threat. Protect Your Right to Trade: Vote Trump, or Bloomberg/Sanders Financial Transaction Tax Kills Trading If democrats get Bloomberg or Sanders in the White House, it will very likely kill day & swingtrading. Because they want to pass a "financial transaction tax", which would wipe out any chance of profitable active trading. I like every pro trader I know will be voting to re-elect Republican President Donald Trump. Please get the word out. A dem prez will kill our right to trade. https://www.cnbc.com/2020/02/18/mike-bloomberg-releases-plan-to-reign-in-wall-street.html https://www.cnbc.com/2020/02/18/leo...to-the-stock-market-than-the-coronavirus.html
I'd say you're naive. The Democrats in general have been trying to get a FTT since when? 2008? Peter de Fazio was pushing it back then. All the Democrat economists are for it. And all of the people running for President now are for it. It looks like free money to them for their social programs. Bloomberg is no exception. Look at the programs he's proposing. He has to pay for them when he somehow. And if Trump gets beat, and they lose the Senate along with it, you can kiss trading goodbye. BTW, Bloomberg also wants to raise capital gains tax, corporate tax, and "special" taxes on the "wealthy". He's just another Democrat in my eyes.
More than likely, some type marginal usage fee/tax will be imposed. All cyber transactions will have a tax. Back to the old school barter system we go. I have eggs and chickens for trade.... Akuma
Bloomberg doesn't have a prayer to actually get elected, but... WTF does "payments on derivative contracts" mean? https://www.cnbc.com/2020/02/18/mik...d-levy-0point1percent-from-stocks-trades.html