As a trader from the U.K. nobody day trades stocks for this reason. Every prop firm is 90% futures traders. People get around it trading CFDs but even those you can’t really scalp as you are paying a spread.
Hey a random thought, maybe casinos could set up betting structure for some stocks for vig that's far less than ftt. That doesn't make trading gambling though. Actually might be a workaround if legal etc
I think it's a mistake to look at this as if it will only apply to US exchanges. There is global effort afoot to make this an international FFT. Everyone knows that if you're the only country to pass an FFT, you're just laying out welcome mat for other countries to take your business. https://www.google.com/search?rlz=1...hUKEwjOlMnspqDsAhWDlHIEHdCfDnoQ4dUDCA0&uact=5
I agree with you on Schumer. Just can't see him all of the sudden flip flopping and supporting a ftt. Here is his stance on the ftt issue back in 2009: Senator Chuck Schumer opposes the trader tax: https://thereformedbroker.com/2009/09/15/senator-chuck-schumer-opposes-the-trader-tax/
In Europe they speak already 10 years of a FTT. But till today there are not enough countries who support this. There were a few countries that tried it out and for most of them it was a failure. Instead of increasing the income from taxes, the income decreased. In some of these countries they abolished the tax quickly. If a tax is created, capital starts to move abroad. The Middle East has to prepare for the "after oil period". They already put Aramco on the market to sell it expensive while income and demand for oil is going down. They need alternative business to generate income. Start a taxfree exchange would be a good idea. And it might solve the FTT problem.
It's so hypocritical that she only identifies with the 25% of her racial heritage ignoring 50% of herself just for political purposes and yet at the same time accuses others of racial discrimination. She herself is the biggest racist discriminating against the South Asian race/ethnic background just because South Asian is not politically powerful enough of a group. You teach others how you want to be treated. If she is acting like a racist herself...
Yesterday or is it a few minutes ago is a long time ago for a politician and 2009 certainly has no relevance for today.
%% Sounds like a real low probability of US voters electing a tax+ spend CA climate kook.[Sarcasm=if some like to worry, talk radio found a glacier that has been melting since 1400ad/LOL]