Yes so they day 90% of the daytraders lose money and as you say 100% marketmakers make money. But then there goes a shitlaod of reveune, from the daytraders with all the volume, less volume less market maker jobs, , less volume no need for 10000s of jobs in the financial instituions and back office ops, that hurts the economy. Evne the scott trades, tdameritrades( i USED TO WORK THERE) , SCHWABS, all revenue comes frmo commission and what not which will be really hit. Beucase not just the daytraders but avg investors who do 10 trades a year will do less becuase of the transaction tax, no the guy who rebalances a half million dollar portfolio is not going to want to pay 2500 dollars extrad to do so! Like I said before , nothing is on the books yet nothing passed and nothing has been submitted since it was tossed from the first TARP in sept. So we have 5 years to worry about it. When things get a little better this shit will die down, just like oil at 150 and people wanting the heads of the companies and etc.... now you dont even hear a peep anymore. No matter how dire the situation, america always forgets as soon as it gets a tad better, thats greed in us, but it works!
I encourage you to point on the s&p 500 chart the time when the daytraders have actually manipulated the s&p 500. Economy is manipulated by the governments not by daytraders.
Guess we should kiss our jobs goodbye cause you have already kissed your intelligence goodbye. All this republican/conservative hyperbole is so over the top. I mean if Obama fails the country also fails. If he fails in 4 years you will get what you want and it will be President Palin's turn at bat. I actually do want Obama to succeed and the country to get out of this funk we're in. If it means the end of trickle down economics & the Reagan Revolution then so be it
bullshit, raise tax to pay off the debt? What are you smoking. We are going to inflate our way out of the debt. It's the only exit out of this hole for the country, and exactly what the top guys are planning to do. raising taxes to payoff the debt...LOL
Inflation is the only game in town once this deflating period has washed through. However taxes may need to be increased just to cover the interest on the debt.
You and Lucrum are complete ignorant morons. Who do you think will people vote for after 8 years of a total disaster dumbass president like Bush in a TWO party system? Don't you realize that it was under his and republican party watch that the financial system came to the brink of a complete meltdown? And I don't even have to mention the idiotic war in Iraq where trillions were wasted and hundreds of thousands people killed. I just hate name calling but when you call someone a communist because they voted for democrats then I have a problem with that and I don't even live in the US. Yes, I also hate taxes but when a president spends like a drunken sailor on an unnecessary war and pays more attention to Iraq then to America then you can't be surprised that it's going to take a lot of money to fix the damage that he's done. Wake up. This is a democratic system and if you don't want the transaction tax you have to fight it through all the political means that are at your disposal but not through name calling.
you know if they attempt to push this thru, then we should push our congressmen to institute and idiot McD tax for all the morons who think they are getting their daily protein, starch, and fat quotient by eating Big Macs every day. After all, it is these fat assess causing a significant stress on the health care system in this country.
Congratulations, you managed to spew enough idiotic hypocrisy in a single post to be added to my burgeoning ignore list.