The SEC mid-year fee rate adjustment from $.0000252 to $.0000468 of the total dollar amount of securities sold becomes effective on April 1, 2003.
and yes these fucking assholes DON'T EVEN DO ANYTHING! It was Spitzer that took action when the SEC only made excuses for these companies or went after some with half ass investigations. And yet, at a time when the gov't needs to encourage more investment, they are raising taxes to feed a bureaucracy that doesn't even do a damn thing!
HOW exactly do we calculate it? is it the number of shares traded times something or is short shares or what
"If you take a walk I Tax Yo Feets" Man, this is brutal. Another friendly reminder that we live in a Democracy. Atleast they could use some lubricant. Be the first in your neighborhood to purchase a brand new tube of "Uncle Sam Anal Lube" only $9.95, tube is extra. Cia DS
I remember reading articles months ago that said that the fees being collected then were much more than the SEC budget and that the surplus was being diverted elsewhere.
The surplus goes into the government's general revenue fund. And they don't make a secret of the fact that the SEC only uses a fraction of the money, it's just a straight out hidden tax. Read some older threads on the subject and you'll see that the fees were supposed to be cut in half last year, instead they increased them 50%.
whatever it is that they do do, is almost imperceptible to the traders... its almost possible to structure an entity which can totally defraud its prop traders of their monies and have virtually no one prosecute them... in one case, those lousy ba***'s openend up under another name, and just kept doing the same thing... as if no one noticed...