Kamala wants a 0.2% transaction tax

Yer also assuming it will be based on notional value. The jury is still out on those details.

 

Over yours as well. I'm talking handles, not ticks.

 

Is she still after that policy? She purposed it during her campaign. Now that she's dropped out and is a VP pick instead maybe her Medicare for all would be rolled back? Remember Trump talked a big game when he was campaigning too so he can standout. Joe Biden seems ambivalent.

 

https://www.usatoday.com/story/news...versee-recessions-dems-recoveries/5235957002/

Real GDP growth in the U.S., averaged 3.33% during the 64 years and 16 presidential terms going back to the mid-1940s ... With a Republican in the White House, though, the economy's growth slowed to 2.54%, the economists found. With a Democrat in office, growth jumped to 4.35% on average. ... Unemployment fell by 0.8 percentage points with a Democratic president on average, while it rose 1.1 percentage points with a Republican ... at least one recession did begin under every Republican president since Ronald Reagan compared with zero under Democratic presidents over the same period.

 

I would be very surprised if it isn't, it is a transaction tax, sounds like it is based on the transaction, not the profit.

 

Well that would just be outrageous and stupid. You don't charge people tax on losses in the USA. The FACK precedent would that set? Good Lord.

 

It is outrageous and stupid.

Here is a quote i found:

How Financial Transaction Taxes Work
Under an FTT, when a financial asset is traded, a small percentage of the asset’s value is paid in taxes. For example, if an investor sells an asset worth $1,000, they would be charged $1 on the transaction under a 0.1 percent FTT. The FTT may be levied on the buyer of the asset, the seller, or the intermediary (like a stock exchange).

 

the thread title says .2%
on $400K, that is in fact $800.

I don't know if that's the way her little idea was in fact written or if ts being subjected to the (always entertaining) ET way of interpreting things, but note the words "transactional tax".
To me that reads "per transaction". Win lose or draw.
You said something about a few pennies per contract on the ES. That bitch costs like $165K. 50X the index. That's $330.

Yea-ah.

....pretty sure we need a few more details on this one.
When did this news come out anyway?
... gotta love ET.

 

Bought a new car lately and then sold it?

 

It's not 0.2% on ES but 0.002%.
0.2% is on stocks (hence the confusion earlier).

So $400K in stock is $800
1 ES contract is around $3.35