"Easy money" "Money doesn't fall from the tree anymore" You do realize 90% of traders lose money, right? Have you taken the time to read why almost all countries that have the tranny tax are likely to repeal it? Have you done any research whatsoever on this subject? Those are rhetorical questions, no need for an answer, we already know the answer.
Unless you're just one of the many here who run their mouth and don't trade then you owe to yourself to do everything you can to try to stop this from passing. So don't be an ignorant fool - as you are showing yourself to be. And thinking trading volume will not drop more than 30% is crazy. It could easily drop 50%. Huge institutions scalp the market with quant models - they could NEVER do that if they had a transaction tax. Whether or not that is a good thing (slowing the quants down) is another issue.
LOL yeah target the traders, not the lawyers and administrators that have fucked up healthcare and take 40c of every healthcare $, or some 8% of GDP. The tort lawyers who add a hidden 10-20% surcharge to most goods and services. The hoards of tax support services that we have to employ so that we don't get caught out by the ridiculous tax code that is being massaged and manipulated daily by another other hoard of high paid whores/lobbyists. These are all legal theives, unlike the madoffs who were illegal frauds. You and those of your ignorant ilk will soon be left alone to pay for your real economy, the rich asshole will have left the bar.
i posted the 1st line. be it as it is you cannot draw any conclusion. suppose you do 5 opening and closing transactions of $20,000. it adds up to the same number.
I suggest that everyone go to the following address for the "Committee on Ways and Means", and email comments to the Chairman, Charles B Rangel. http://waysandmeans.house.gov Click on "CONTACT" in the upper right. TAKE A MINUTE, and send your comments in your own words. It can make a difference. The bill as proposed states that it goes after Wall Street. But every corner of Main Street will feel the pain, and at the worst possible time. If the bill is given any serious consideration, it MUST include some way to exempt the small investor/trader who is not pushing around hundreds of millions for rapid speculation.
Precisely. Who is the bigger parasite? A trader who risks his own money every day or a government worker who produces nothing but cannot be fired, who gets lavish benefits and a fat retirement courtesy of us? Or an unskilled UAW member who makes $75k a year and now wants us to bail him out?
In France, we already repealed it 2 years ago. We had it for 5 years or something. Those taxes never lasts. Even in a domestic investor market with much less sophisticated speculators, liquidity... It wasn't good.