Trader Tax - Now They Are Coming For Us

Discussion in 'Economics' started by LivToTrade, Feb 20, 2009.

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  1. On Friday, February 13, U.S. Congressman Peter DeFazio, introduced H.R. 1068: "Let Wall Street Pay for Wall Street's Bailout Act of 2009", which aims to impose a 0.25% transaction tax on the "sale and purchase of financial instruments such as stock, options, and futures."

    The body of the bill suggests that such a tax would have a negligible impact on the average investor. I beg to differ. For example, a $10,000 trade (or approximately 100 shares of stock in Apple, Inc.) would increase the cost of a round trip transaction by $50. 100 shares is generally considered to be a minimum size for a trade, which would devastate any small business executing even a handful of similar trades each day.

    Would you still like to have a future trading? Please forward this message to anyone who will read it and go to this site and sign the petition against H.R. 1068.

    http://www.rallycongress.com/no2tradertax/1536/


    JOHN
     
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