Allow me to mention that this would extremely limit speculation and liquidity in the ag markets which means that farmers will have a really hard time hedging and locking in prices. This would all but destroy small to medium sized agriculture businesses for years to come.
Like I said before, PELOSI is the one that needs to be contacted. http://speaker.house.gov/contact/ Ask the phone operator to send you to Pelosi's suggestion line and urge her to REJECT HR-1068 by Representatives DeFazio and Stark!
there is no 150 billion per year to suck from the markets. these moron politicians need to do some research and stop making foolish laws to pay for their wastefule programs like war, and welfare. this bill isn't to help investors or help the markets. it's just another example of gov't want to take money from private enterprise to pay for their wasteful welfare programs.
private sector can be more productive than gov't with 150 billion. gov't just waste the 150 billion on war and welfare programs
This is a self-defeating tax. It won't come close to 150B. Anaconda has nailed it; this bill isn't about generating revenue it's about shutting down speculating -- pure and simple.
Speculators are at the core of the capitalism. It's all about turnover of capital. You shut down the speculators you destroy the capitalism.
A ES trader could just open a account to trade foreign markets like FDAX. or a ZN trader could trade the Bund, etc... to get around this tax???
They are not referring to transactions made by american citizens on foreign exchanges, so I guess so... It's an "improvement" from a precedent piece of paper I read from DeFazio(don't remember which one).