How likely is it now that a financial transaction tax will pass?

Discussion in 'Trading' started by takeprofitsalways, Jan 6, 2021.

  1. The democraps have control of everything now. I make a ton of trades a day. To put this in perspective, I made several mill last year, but if the FTT passes, I will owe money and declare bankrupcty. Is there a chance that this will pass since Kamala is pushing it and with the democraps have the majority, that they can pass any bill at will or is it not that easy? And if it passes, would it be possible for them to do it retroactively?
    traderslair likes this.
  2. you can simply not trade, how can you go broke by not trading?
    by the way, how many shares do you trade and hold how long?
  3. BAT31


    Probably after they take away your guns. Since Democrats never get around to taking away your guns, they probably will never get around to taxing financial transactions.

    However, you can rest assured they will overturn the 2017 tax cuts.

    Let's hope they don't raise the long-term capital gains tax.
    bone and murray t turtle like this.
  4. I can stop trading, but if they do it retroactively, my million dollar roth ira will be wiped out
  5. Overnight


    You are a useless waste of space on this forum, because what you just typed is not logical. What you typed is impossible.

    What you are saying, is that you made all of your MILLIONS last year, but somehow, in some way, a tax of less than 100 percent on your trades would bankrupt you. WHO or WHAT the hell are you, and why do you exist?

    From what dimension do you come?

    Why don't you endear us with your millionaire trades last year, and explain to us how a "FTT" will make you owe money and BANKRUPT you?

    HUH? You are teetering on the edge between being a millionaire and a bankrupt refugee on a .0X% tax on trades?

    Please enlighten us. My spidey sense in on fire right now.
    Sig, Amatrue, comagnum and 5 others like this.
  6. I can stop trading, but if they do it retroactively, my million dollar roth ira will be wiped out. Lately i've been buying in with 1.4 mill at a time and holding for 20 min or so. I make around 500 trades a day
  7. Overnight


    Ahh, I see. Do you eat greasy cheeseburgers in your used Maserati?
  8. My cost basis and proceeds was high 9 digits. I had a lot of losing trades but had a net gain. The ftt would tax despite profit or loss at .0X% so yes, I would get wiped out
  9. Overnight


    tomtr27 likes this.
  10. Overnight


    Find me the text for the proposed FTT that you fear will be singed into law, and we'll review it together. Because at this point it is ephemeral, and is fear-mongering.

    #10     Jan 6, 2021
    tomtr27 likes this.