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

Discussion in 'Trading' started by seasideheights, Sep 25, 2008.

  1. The only way this passes is if Obama gets elected. No way McCain would ever sign this in.
    #31     Sep 25, 2008

  2. That doesn't mean we shouldn't have our brokers yell about it now. There's no reason they couldn't implement that next month, next year, etc.

    Send the URL of the story to your broker so they can give some pushback to that idea before it spreads.
    #32     Sep 25, 2008
  3. JORGE


    You are not losing your mind. I trade relatively average volume for a retail trader and I had 420 million in sales on my 1099 last year. Add in the buys, and I would be paying a 2.1 million dollar tax bill.
    #33     Sep 25, 2008
  4. This should, once and for all, cut the bullshit on this board about how Democrats only want to raise taxes for the rich (Who am I kidding? It won't).
    Hell make it 5% and no more 1040 capital loss deductions.
    #34     Sep 25, 2008
  5. Right. If Obama is elected, I'm just praying he'll pull a Bill Clinton and lean to the Center on economic issues. But nothing he has said or proposed so far gives me hope.

    Is he man enough to stand up to the Pelosis and Boxers?

    #35     Sep 25, 2008
  6. Cutten


    Lol, worst plan ever. Watch every futures exchange locate outside the USA if this ever passes.

    Those 16 morons just committed political suicide.
    #36     Sep 25, 2008
  7. Cutten


    Why would a politican from Chicago sign a bill that would put the Merc and the Board out of business?
    #37     Sep 25, 2008
  8. it's a total anti-liquidity proposal
    #38     Sep 25, 2008
  9. 1. Taxpayers forget the wrongs of leaders who proposed legislation that didn't pass. Rabid democratic voters vote that way out of determination, not logic.
    2. Politicians bring back such legislation and pass it in the middle of the night. The key is to even consider it in the first place. Done.
    3. I will be trading those foreign futures exchanges, wherever they are, if America does for futures traders what it did for living-wage factory jobs.
    #39     Sep 25, 2008
  10. mokwit


    Big drag on non institutional trading volume. This tax created the CFD market and reduced stock trading further. Now that IDIOT Brown, the Sub Prime Minister is talking about permanent anti shorting legislation to shift the blame from his creation of false prosperity that is now collapsing.

    UK is OFF my radar screen because of this tax.
    #40     Sep 25, 2008