Tax on Trades Should Be Part of Rescue Plan, Some Democrats Say

I am not surprised by this. Create a crisis, then tax your way out of it. Damn, it's like Hussein is already in the White House!

 

Clearly this would include ETF trades, but what about mutual fund trades? money market fund trades?

I just finished eating lunch (I'm on the West Coast). Excuse me, I have to go throw up now....

 

In Britain there is 0.5% on stock purchases but not ETF, futures or options. People spreadbet and trade contracts for differences which are not taxed.

 

There's no fucking way this could happen...

is there?

 

This would indeed put us all out of business. Would cost me 10-15k per day and I'm not even a high volume trader.

Liquidity would be GONE.

Worst idea in the history of ideas.

 

Wouldn't surprise me if the only knowledge of what "ES" means came to Pelosi through an intern...

 

Surely a 25BP tax on all transactions would kill arbitrage and pretty much kill the derivatives markets in the US. Wouldn't it cause a bigger problem than the one they're trying to fix?

 

SEND THE URL OF THE STORY TO YOUR BROKER SO THEY CAN FIGHT IT.

 

no. I dont think even obama would sign this. buffett would surely tell him this is just awful

 

Yes. it's all my fault, I should pay for it.

Put me out of business while Paulson keeps his 600 million, or whatever he got from GS.

Bastards.