Yes, I'm aware we're in the clear FOR NOW on the ridiculous transation tax idea, but we're by no means out of the woods. We still all need to contact retail trading firms, because they will all go out of business if this goes through, and unlike us, they may actually have some pull. Make them aware (I'm sure they already are but it won't hurt) and have them fight this.
You need to make clear in your writings, the law will only hurt retail investors, not even closely the ones who "created the mess". Think of an better-average US family guy who actively takes care of his portfolio: Portfolio value: $100.000 Assume, he turns his portfolio every 2 months, that results in an ADDITIONAL tax of $3000 per year, or $30.000 in 10 years Quite destructive, if you ask me
Absolutely, tax the people that got us into this mess. Take 50% of the severance packages to those in FNM, FRE, LEH etc etc and you'll be looking at a nice chunk of change to pay for some of this! The problem here is the democrats want to end speculation in the marketplace, and they have to understand how important speculation is to the markets, and how you are penalizing the wrong people. They love speculation when it's to the upside.. unless of course it's in oil.
And furthermore: What about the (most likely) large profits, that BAC, C and the likes will write after, e.g., 2015 ? They just needed to seize these future profits for as long as the current expenditures are not compensated !