Petition to Congress: (Tax) Hands-Off Our Trading Industry

Discussion in 'Taxes and Accounting' started by Robert A. Green, Dec 3, 2012.

  1. If you value trading, please sign and email our petition, and spread the word.

    New proposed FTT bills need to be stopped, including the French tax assault on America

    We need all traders’ hands on deck to help protect our trading business livelihood and active investing plans. Financial-transaction taxes (FTT) are snowballing in Europe and they apply to traders around the world, including on American exchanges. Buy or sell a French stock, or French ADR in America and you must pay the FTT tax to Paris on each transaction. This is just the start, as eleven countries in the EU including Germany are pushing for this FTT tax to have global reach. It’s going to be a real mess. For sure it will put active traders out of business overnight, unless they can hunt down new markets to trade that are free of this tax and they don't live in a country that passed the tax.

    A few U.S. Congressmen want FTT in the U.S., too. They are taking advantage of the fiscal-cliff stand-off to propose FTT as a revenue raiser to avoid entitlement reform. They want to apply FTT to everything we trade including securities, futures, options, derivatives and in some cases even forex.

    We’ve been fighting against FTT and the main Elite Trader thread is "1/4% Tax on all stock trades pushed in NY Times today"
  2. Without Congress getting hands-on with the "Trading Industry", there wouldn't even be a "trading Industry" anymore.

    Bailout after bailout, favorable legislative action after favorable legislative action - now it's time to pay some of that back to the piper.
  3. sheda


    At this stage of its development you fail to understand that those bailed out wont be paying it, and the significant risks it poses to your business?
  4. It doesn't pose any risk to my business.

    If anything, the proposal would make things better for me.
  5. sheda


    Another toxic im alright jack.
  6. Bye bye 100k days..