i learned the hard way with H-1b visa, that they only believe in free markets when THEY are winning the moment someone else does, instant socialist, they become this whole bailout thing is, some of the currently wealthy made dumb bets and blew their wad, and they'll do anything to get it back they have political influence, and they're using it
At the end of the day, it's about liberty and freedom. Unfortunately, this country is going away from those principles. Everyone expects the government to solve their problems. What they don't realize is that the government will ALWAYS create bigger problems in that process.
One more thing: Say I *am* over reacting and there is absolutely no chance of this happening. Go ahead and take a few minutes and voice your opinion, what have you lost? What's a few minutes compared to even a very small chance of losing your livelyhood?
A few countries have it. .15% - .5% in most cases. BUT BELIEVE ME, THE OUTCOME WOULD BE: BANKS ARE EXEMPT, MM FIRMS ARE EXEMPT, LARGE FUNDS ETC ARE EXEMPT. SMALLER TRADERS: PAY
Guys (and Gals), email your BROKER about this issue. They're the ones who can stand up & say I have X number of common people who would be seriously injured by this issue. EMAIL YOUR BROKER! It only takes 2 minutes.
I'm not really sure why this couldn't happen. If this is how other stock markets operate and they're doing fine why couldn't this happen to the US. Also it really makes sense as congress is to not put the burdon on the tax payers and instead put it on wall street. I remember back in october of 2006 when you heard the govt was going to outlaw online poker no one thought that it would pass... it did
Absolutely, email your brokers. IB, Tradestation etc would go out of business if this comes into play so it's in their interest as well.
Hopefully trading foreign instruments would be enough, but they might structure it in such a way that you'd basically need to move offshore. The forex market would be killed off, what's 0.25% of a million bucks? But I think that's what they want. After all, those evil currency traders are screwing with the dollar as well, got to stop them right?