e.g. 100k stock account ftt of 1/10 of 1 percent or.001. 4to1 intraday margin 4 to1 turnover 400k/day tax cost $400/day annual cost 100k At year end breakeven trader has lost all his capital.
The real danger is if it's applied to retail and big guys are exempted. Also, there's a lot of foreign listings and traders who all contribute significantly to the market. Getting rid of these elements will mean layoffs at brokerages and exchanges. It's easy to drive away customers, hard to get them back.
Start praying that Sanders get the nomination. When the US gets a radical candidate they vote for the more politically "center" candidate. Bloomberg has a much better chance of beating Trump than Sanders.
In Germany where the law of the derivative tax is already through! Is this incredible reality, we traders here, run amok .... Would you like a calculation example? $ 200,000 profit, $ 140,000 loss, = $ 60,000 profit, before tax. As it is until December 31, 2020 you pay 27% on $ 60,000 profit - $ 16,200 tax = net $ 43,800 Now the scandal of our finance minister Scholz from the SPD (Social Party Germany) as well as in the USA the Democrats. Only the CDU with you The Republicans did it together. Nothing comes to mind ... 10,000, - The highest amount for deducting losses on profits. That means: $ 200,000 profit - $ 10,000 maximum loss deduction 190,000.00 are now taxable $ 190,000 of which 27% tax = $ 51,300 tax $ 60,000 profit - $ 51,300 tax = $ 8700 net And trading in Germany for private investors is over and the German EU boss is promoting this model in the EU and Bernie says the Germans are on the right track. Good morning America be careful and fight back.
To be fair, Germany has been passing inane laws and absurdities for a while now. They have the power to destroy any entrepreneurial spirit Europeans have and are using it. Tax traders to death, send the money to Greece to be never seen again. Solid governing...
I can see this sort of thing becoming law because POLITICIANS ARE GREEDY... they're also stupid if they think it will generate any kind of tax revenue, because people will just stop trading/investing. I suspect they will come to their senses and repeal this BS.
Are you familiar with old saying Legislate in haste. Repent in leisure. Better to use your energy that the FTT is not enacted in the 1st place,
You're ridiculous here. Politicians know what's up but populism wins. The average Joe is clueless but the politician has to appease him, so he says whatever is necessary.